May 12, 2022 07:00 ET | Source: IndexBox, Inc. IndexBox, Inc.
Companies Mentioned in the Report: Intralox, Jason Industrial, McGinty Conveyors, WCCO Belting, Lewis-Goetz Co., Beltservice Corp, Con-Belt Inc., Ashland Conveyor Products, Apache Inc., AP Conveyor Products, Dura-Belt Inc., MagneMotion Inc., Universal Belting Resource, Great Lakes Belting & Supply Corporation, Wire-Mesh Products, Fenner, Habasit AG, Ammeraal Beltech, BEHA Belt, Volta Belting Inc.
NEW YORK, May 12, 2022 (GLOBE NEWSWIRE) -- IndexBox has just published a new report: 'U.S. – Conveyor and Transmission Belts - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
U.S. Conveyor and Transmission Belt Market Statistics
U.S. Conveyor and Transmission Belt Market Size
The revenue of the conveyor or transmission belt market in the United States was estimated at $2.3B in 2021. This figure reflects the total revenues of producers and importers (excluding logistics costs and intermediaries' margins, which will be included in the final consumer price). REQUEST FREE DATA
U.S. Conveyor and Transmission Belt Exports
In 2021, shipments abroad of conveyor or transmission belts was finally on the rise to reach 75K tonnes for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +2.5% over the period from 2007 to 2021. REQUEST FREE DATA
In value terms, conveyor or transmission belt exports soared to $430M in 2021. The total export value increased at an average annual rate of +3.2% over the period from 2007 to 2021. REQUEST FREE DATA
Canada (54K tonnes) was the main destination for conveyor or transmission belt exports from the United States, accounting for a 73% share of total supplies. Moreover, conveyor or transmission belt exports to Canada exceeded the volume sent to the second major destination, Mexico (7.7K tonnes), sevenfold. India (3.3K tonnes) ranked third in terms of total exports with a 4.4% share.
In value terms, Canada ($190M) remains the key foreign market for conveyor or transmission belt exports from the United States, comprising 44% of total supplies. The second position in the ranking was occupied by Mexico ($64M), with a 15% share of total exports. It was followed by Brazil, with a 5.8% share.
From 2007 to 2021, the average annual rate of growth in terms of value to Canada amounted to +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+4.3% per year) and Brazil (+7.1% per year).
The average conveyor or transmission belt export price stood at $5,750 per tonne in 2021, waning by -6.8% against the previous year. Prices varied noticeably by the country of destination: the country with the highest price was Brazil ($16,542 per tonne), while the average price for exports to India ($1,272 per tonne) was amongst the lowest. From 2007 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.
U.S. Conveyor Belt and Transmission Imports
In 2021, overseas purchases of conveyor or transmission belts or belting increased by 6.5% to 86K tonnes for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports showed a relatively flat trend pattern.
In value terms, conveyor or transmission belt imports soared to $643M in 2021. The total import value increased at an average annual rate of +1.3% from 2007 to 2021.
China (28K tonnes), Mexico (14K tonnes) and Taiwan (Chinese) (11K tonnes) were the main suppliers of conveyor or transmission belt imports to the United States, with a combined 62% share of total imports. India, Canada, Germany and Japan lagged somewhat behind, together comprising a further 24%.
In value terms, the largest conveyor or transmission belt suppliers to the United States were Mexico ($133M), China ($89M) and Japan ($79M), with a combined 47% share of total imports. Germany, India, Taiwan (Chinese) and Canada lagged somewhat behind, together accounting for a further 29%.
India, with a CAGR of +11.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
The average conveyor or transmission belt import price stood at $7,472 per tonne in 2021, picking up by 9.2% against the previous year. There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($33,611 per tonne), while the price for China ($3,168 per tonne) was amongst the lowest. From 2007 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.
IndexBox is a market research firm developing an AI-driven market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices for more than 10K+ different products across 200 countries.
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