United Arab Emirates: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in the United Arab Emirates

The conveyor or transmission belt market in the United Arab Emirates skyrocketed to $X in 2021, with an increase of 24% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from the United Arab Emirates

In 2021, after two years of decline, there was significant growth in shipments abroad of conveyor or transmission belts or belting, when their volume increased by 42% to X tons. In general, exports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 53%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, conveyor or transmission belt exports skyrocketed to $X in 2021. Over the period under review, exports posted a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 96% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Oman (X tons) was the main destination for conveyor or transmission belt exports from the United Arab Emirates, accounting for a 26% share of total exports. Moreover, conveyor or transmission belt exports to Oman exceeded the volume sent to the second major destination, France (X tons), twofold. South Africa (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Oman stood at +9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+84.7% per year) and South Africa (+31.8% per year).

In value terms, Oman ($X) remains the key foreign market for conveyor or transmission belts or belting exports from the United Arab Emirates, comprising 57% of total exports. The second position in the ranking was taken by France ($X), with a 5% share of total exports. It was followed by Saudi Arabia, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Oman stood at +16.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+71.0% per year) and Saudi Arabia (+25.8% per year).

Export Prices by Country

In 2021, the average conveyor or transmission belt export price amounted to $X per ton, reducing by -7.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2017 an increase of 30%. The export price peaked at $X per ton in 2020, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to South Africa ($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 Oman (+6.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into the United Arab Emirates

In 2021, approx. X tons of conveyor or transmission belts or belting were imported into the United Arab Emirates; with an increase of 25% compared with 2020. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 47%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, conveyor or transmission belt imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 47% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of conveyor or transmission belt to the United Arab Emirates, with a 42% share of total imports. Moreover, conveyor or transmission belt imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. South Korea (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+5.6% per year) and South Korea (-3.6% per year).

In value terms, China ($X), Japan ($X) and India ($X) were the largest conveyor or transmission belt suppliers to the United Arab Emirates, together comprising 40% of total imports. Germany, South Korea, Belgium, the United States, Italy, Thailand, the Netherlands, Spain, Taiwan (Chinese) and Indonesia lagged somewhat behind, together comprising a further 28%.

In terms of the main suppliers, Spain, with a CAGR of +37.5%, saw 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

The average conveyor or transmission belt import price stood at $X per ton in 2021, surging by 8.3% against the previous year. Over the last nine years, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2016 when the average import price increased by 14% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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