Greece: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Greece

In 2022, the Greek market for vacuum pumps and air or gas compressors decreased by -12% to $X for the first time since 2015, thus ending a six-year rising trend. In general, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +86.6% against 2015 indices. As a result, consumption reached the peak level of $X, and then fell in the following year.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from Greece

In 2022, overseas shipments of vacuum pumps and air or gas compressors increased by 101% to X units, rising for the third consecutive year after two years of decline. In general, exports enjoyed a remarkable increase. The pace of growth was the most pronounced in 2021 when exports increased by 129%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, exports of vacuum pumps and air or gas compressors skyrocketed to $X in 2022. Overall, exports posted a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 568%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Italy (X units), Slovakia (X units) and Germany (X units) were the main destinations of exports of vacuum pumps and air or gas compressors from Greece, together accounting for 68% of total exports. Estonia, Cyprus, Hungary, Poland, Bulgaria and Romania lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of +156.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vacuum pump and air or gas compressor exported from Greece were Germany ($X), Poland ($X) and Cyprus ($X), together comprising 25% of total exports. Bulgaria, Italy, Hungary, Slovakia, Estonia and Romania lagged somewhat behind, together comprising a further 12%.

Estonia, with a CAGR of +85.3%, 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 export price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, which is down by -34.8% against the previous year. Overall, the export price showed a abrupt decrease. The pace of growth appeared the most rapid in 2014 an increase of 414%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per unit), while the average price for exports to Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cyprus (-2.6%), while the prices for the other major destinations experienced a decline.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into Greece

For the seventh year in a row, Greece recorded growth in purchases abroad of vacuum pumps and air or gas compressors, which increased by 16% to X units in 2022. In general, total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +111.5% against 2015 indices. The most prominent rate of growth was recorded in 2014 with an increase of 37% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, imports of vacuum pumps and air or gas compressors declined to $X in 2022. Overall, imports enjoyed a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 54%. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of vacuum pump and air or gas compressor to Greece, with a 61% share of total imports. Moreover, imports of vacuum pumps and air or gas compressors from China exceeded the figures recorded by the second-largest supplier, Italy (X units), sevenfold. The third position in this ranking was held by Germany (X units), with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.9% per year) and Germany (-10.6% per year).

In value terms, Germany ($X), Italy ($X) and Belgium ($X) constituted the largest vacuum pump and air or gas compressor suppliers to Greece, together accounting for 52% of total imports. China, France, Spain, the Netherlands and Austria lagged somewhat behind, together comprising a further 21%.

Austria, with a CAGR of +17.5%, saw 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.

Import Prices by Country

The average import price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, reducing by -25.9% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average import price increased by 53% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+20.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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