U.S.: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in the U.S.

The U.S. conveyor or transmission belt market declined slightly to $X in 2021, with a decrease of -2.6% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the market value increased by 6.6% against the previous year. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Production of Conveyor Or Transmission Belts Or Belting in the U.S.

In value terms, conveyor or transmission belt production shrank modestly to $X in 2021. Overall, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 4.2% against the previous year. Conveyor or transmission belt production peaked at $X in 2018; afterwards, it flattened through to 2021.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from the U.S.

In 2021, overseas shipments of conveyor or transmission belts or belting were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, showed a relatively flat trend pattern. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, conveyor or transmission belt exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X tons) was the main destination for conveyor or transmission belt exports from the United States, with a 75% share of total exports. Moreover, conveyor or transmission belt exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), sevenfold. The third position in this ranking was taken by Brazil (X tons), with a 2% share.

From 2012 to 2021, the average annual growth rate of volume to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+0.7% per year) and Brazil (-5.5% per year).

In value terms, Canada ($X) remains the key foreign market for conveyor or transmission belts or belting exports from the United States, comprising 45% of total exports. The second position in the ranking was taken by Mexico ($X), with a 14% share of total exports. It was followed by Brazil, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+0.1% per year) and Brazil (+1.8% per year).

Export Prices by Country

The average conveyor or transmission belt export price stood at $X per ton in 2021, reducing by -2.1% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 16% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into the U.S.

In 2021, supplies from abroad of conveyor or transmission belts or belting was finally on the rise to reach X tons after two years of decline. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 15% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, conveyor or transmission belt imports skyrocketed to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 17%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), Mexico (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of conveyor or transmission belt imports to the United States, with a combined 61% share of total imports. India, Canada, Turkey, Germany and Japan lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +113.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), China ($X) and Japan ($X) constituted the largest conveyor or transmission belt suppliers to the United States, with a combined 47% share of total imports. These countries were followed by Germany, India, Taiwan (Chinese), Canada and Turkey, which together accounted for a further 30%.

In terms of the main suppliers, Turkey, with a CAGR of +72.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average conveyor or transmission belt import price amounted to $X per ton, increasing by 8.5% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average import price increased by 12% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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