Greece: Market for Grinding, Sanding and Polishing Machines 2022

Market Size for Grinding, Sanding and Polishing Machines in Greece

In 2021, the Greek market for grinding, sanding and polishing machines increased by 48% to $X, rising for the second year in a row after three years of decline. In general, consumption saw a resilient increase. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Production of Grinding, Sanding and Polishing Machines in Greece

In value terms, grinding, sanding and polishing machine production soared to $X in 2021 estimated in export price. In general, the total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -20.0% against 2017 indices. Grinding, sanding and polishing machine production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Exports of Grinding, Sanding and Polishing Machines

Exports from Greece

In 2021, exports of grinding, sanding and polishing machines from Greece soared to X units, picking up by 978% against 2020 figures. In general, exports recorded a significant increase. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, grinding, sanding and polishing machine exports skyrocketed to $X in 2021. Overall, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 2,828%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X units) was the main destination for grinding, sanding and polishing machine exports from Greece, accounting for a 93% share of total exports. Moreover, grinding, sanding and polishing machine exports to Germany exceeded the volume sent to the second major destination, Cyprus (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany amounted to +41.2%.

In value terms, Germany ($X) emerged as the key foreign market for grinding, sanding and polishing machine exports from Greece, comprising 55% of total exports. The second position in the ranking was taken by Cyprus ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Germany amounted to +29.1%.

Export Prices by Country

The average export price for grinding, sanding and polishing machines stood at $X per unit in 2021, reducing by -40.8% against the previous year. Over the period under review, the export price saw a mild shrinkage. The growth pace was the most rapid in 2013 an increase of 619% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Cyprus ($X per unit), while the average price for exports to Germany amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (+237.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding, Sanding and Polishing Machines

Imports into Greece

In 2021, the amount of grinding, sanding and polishing machines imported into Greece soared to X units, growing by 62% against the previous year's figure. Overall, imports showed a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of 517%. As a result, imports reached the peak of X units. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, grinding, sanding and polishing machine imports skyrocketed to $X in 2021. In general, imports recorded a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X units), China (X units) and Germany (X units) were the main suppliers of grinding, sanding and polishing machine imports to Greece, with a combined 98% share of total imports.

From 2012 to 2021, the biggest increases were in China (with a CAGR of +35.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of grinding, sanding and polishing machine to Greece, comprising 73% of total imports. The second position in the ranking was held by Switzerland ($X), with a 14% share of total imports. It was followed by China, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value from Italy stood at +25.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (0.0% per year) and China (+37.7% per year).

Import Prices by Country

The average import price for grinding, sanding and polishing machines stood at $X per unit in 2021, surging by 209% against the previous year. Over the period under review, the import price continues to indicate a buoyant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Switzerland ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+56.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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