Greece: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in Greece

In 2023, the Greek machinery electrical parts market increased by X% to $X, rising for the third year in a row after three years of decline. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Machinery electrical parts consumption peaked in 2023 and is expected to retain growth in the near future.

Machinery Electrical Parts Production in Greece

In value terms, machinery electrical parts production totaled $X in 2023 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2023, production growth failed to regain momentum.

Machinery Electrical Parts Exports

Exports from Greece

In 2021, overseas shipments of electrical parts of machinery or apparatus increased by X% to X tons, rising for the second year in a row after four years of decline. Overall, total exports indicated a mild increase from 2012 to 2021: its volume increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, machinery electrical parts exports totaled $X in 2021. The total export value increased at an average annual rate of X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Pakistan (X tons) was the main destination for machinery electrical parts exports from Greece, with a X% share of total exports. Moreover, machinery electrical parts exports to Pakistan exceeded the volume sent to the second major destination, Germany (X tons), twofold. The third position in this ranking was held by the Netherlands (X tons), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Pakistan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and the Netherlands (X% per year).

In value terms, the Netherlands ($X), Pakistan ($X) and Germany ($X) appeared to be the largest markets for machinery electrical parts exported from Greece worldwide, together comprising X% of total exports. Malaysia, India, Bulgaria, Slovakia and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

Malaysia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average machinery electrical parts export price stood at $X per ton in 2021, remaining constant against the previous year. In general, export price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, machinery electrical parts export price increased by X% against 2015 indices. The growth pace was the most rapid in 2018 an increase of X%. The export price peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to Hong Kong SAR ($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 India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery Electrical Parts Imports

Imports into Greece

In 2021, after three years of decline, there was significant growth in overseas purchases of electrical parts of machinery or apparatus, when their volume increased by X% to X tons. Over the period under review, imports recorded a relatively flat trend pattern. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, machinery electrical parts imports shrank to $X in 2021. In general, imports, however, continue to indicate a perceptible decrease. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Italy (X tons), Germany (X tons) and China (X tons) were the main suppliers of machinery electrical parts imports to Greece, with a combined X% share of total imports. The Czech Republic, the Netherlands, Poland, France, Hungary, Spain and the UK lagged somewhat behind, together comprising a further X%.

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

In value terms, Germany ($X), the Czech Republic ($X) and the Netherlands ($X) constituted the largest machinery electrical parts suppliers to Greece, with a combined X% share of total imports. Italy, China, France, Poland, Hungary, the UK and Spain lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Hungary, with a CAGR of X%, 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 machinery electrical parts import price amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price recorded a pronounced setback. The pace of growth was the most pronounced in 2013 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

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 the Netherlands ($X per ton), while the price for Italy ($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 Netherlands (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform