Greece: Market for Air conditioning Machines without Refrigeration Unit 2024

Market Size for Air conditioning Machines without Refrigeration Unit in Greece

The Greek market for air conditioning machines without refrigeration unit fell to $X in 2022, waning by -8.9% 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). Overall, consumption saw a pronounced shrinkage. Consumption of peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Exports of Air conditioning Machines without Refrigeration Unit

Exports from Greece

In 2022, exports of air conditioning machines without refrigeration unit from Greece skyrocketed to X units, increasing by 18% on the year before. Over the period under review, exports enjoyed a mild expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 135%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, exports of air conditioning machines without refrigeration unit expanded notably to $X in 2022. In general, exports posted a notable increase. The most prominent rate of growth was recorded in 2016 with an increase of 117%. Over the period under review, the exports of hit record highs at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Pakistan (X units), Cyprus (X units) and Albania (X units) were the main destinations of exports of air conditioning machines without refrigeration unit from Greece, together accounting for 76% of total exports. Estonia, Serbia, Romania, Italy and Bulgaria lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +68.7%), while the other leaders experienced more modest paces of growth.

In value terms, Cyprus ($X) remains the key foreign market for air conditioning machines without refrigeration unit exports from Greece, comprising 45% of total exports. The second position in the ranking was held by Pakistan ($X), with a 21% share of total exports. It was followed by Albania, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value to Cyprus stood at +55.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+5.6% per year) and Albania (+3.8% per year).

Export Prices by Country

The average export price for air conditioning machines without refrigeration unit stood at $X per unit in 2022, reducing by -8% against the previous year. In general, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for air conditioning machines without refrigeration unit increased by +8.9% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the average export price increased by 74% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cyprus ($X per unit), while the average price for exports to Estonia ($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 Albania (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Air conditioning Machines without Refrigeration Unit

Imports into Greece

For the fourth consecutive year, Greece recorded decline in supplies from abroad of air conditioning machines without refrigeration unit, which decreased by -11.6% to X units in 2022. In general, imports recorded a abrupt setback. The pace of growth was the most pronounced in 2018 with an increase of 56% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of air conditioning machines without refrigeration unit totaled $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 75%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Italy (X units) constituted the largest air conditioning machins without refrigeration unit supplier to Greece, with a 61% share of total imports. Moreover, imports of air conditioning machines without refrigeration unit from Italy exceeded the figures recorded by the second-largest supplier, China (X units), sixfold. The third position in this ranking was held by Germany (X units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Italy amounted to +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-21.2% per year) and Germany (+2.8% per year).

In value terms, Italy ($X) constituted the largest supplier of air conditioning machines without refrigeration unit to Greece, comprising 66% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 9.6% share of total imports. It was followed by China, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value from Italy amounted to +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+16.4% per year) and China (-18.6% per year).

Import Prices by Country

In 2022, the average import price for air conditioning machines without refrigeration unit amounted to $X per unit, surging by 14% against the previous year. Over the period under review, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for air conditioning machines without refrigeration unit decreased by -2.1% against 2019 indices. The pace of growth was the most pronounced in 2019 when the average import price increased by 27% against the previous year. As a result, import price attained the peak level of $X per unit; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform