Middle East: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in the Middle East

The Middle Eastern conveyor or transmission belt market surged to $X in 2023, increasing by X% against the previous year. Overall, consumption saw a prominent expansion. The level of consumption peaked at $X in 2021; afterwards, it flattened through to 2023.

Production of Conveyor Or Transmission Belts Or Belting in the Middle East

In value terms, conveyor or transmission belt production expanded markedly to $X in 2023 estimated in export price. In general, production showed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports in the Middle East

In 2023, shipments abroad of conveyor or transmission belts or belting decreased by X% to X tons, falling for the second year in a row after five years of growth. Over the period under review, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, conveyor or transmission belt exports rose sharply to $X in 2023. Overall, exports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The level of export peaked in 2023 and is likely to continue growth in the immediate term.

Exports by Country

Turkey was the major exporter of conveyor or transmission belts or belting in the Middle East, with the volume of exports resulting at X tons, which was near X% of total exports in 2023. It was distantly followed by the United Arab Emirates (X tons), committing a X% share of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of the United Arab Emirates increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest conveyor or transmission belt supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Turkey totaled X%.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2023, picking up by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Imports of Conveyor Or Transmission Belts Or Belting

Imports in the Middle East

In 2023, overseas purchases of conveyor or transmission belts or belting were finally on the rise to reach X tons after two years of decline. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

In value terms, conveyor or transmission belt imports expanded notably to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The level of import peaked in 2023 and is likely to see steady growth in the immediate term.

Imports by Country

The purchases of the three major importers of conveyor or transmission belts or belting, namely Turkey, the United Arab Emirates and Iran, represented more than half of total import. Saudi Arabia (X tons) ranks next in terms of the total imports with a X% share, followed by Iraq (X%). The following importers - Oman (X tons) and Jordan (X tons) - each amounted to a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest conveyor or transmission belt importing markets in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Iran ($X), together comprising X% of total imports. Saudi Arabia, Iraq, Oman and Jordan lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Iraq, with a CAGR of X%, saw the highest growth rate of 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 import price in the Middle East stood at $X per ton in 2023, approximately reflecting the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2022, and then shrank slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Turkey ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Iraq (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform