Hose And Belt Market Overview in the USA
In value terms, hose and belt production stood at $ in . The total output value increased at an average annual rate of +% over the period from 2013 to ; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2017 with an increase of % y-o-y. Over the period under review, production reached the peak level in and is likely to continue growth in the immediate term.
The size of the hose and belt market in the U.S. contracted significantly to $ in , which is down by -% 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 recorded a noticeable descent. The growth pace was the most rapid in 2017 with an increase of % y-o-y. Over the period under review, the market reached the maximum level at $ in 2018; however, from 2019 to , consumption failed to regain the momentum.