Greece: Tools For Bearing Market 2024

Tools For Bearing Market Size in Greece

The Greek tools for bearing market surged to $X in 2022, rising by 20% 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 showed a significant increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Tools For Bearing Exports

Exports from Greece

Tools for bearing exports from Greece soared to X tons in 2022, surging by 408% against the year before. Over the period under review, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 1,056% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, tools for bearing exports soared to $X in 2022. In general, exports recorded a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 3,185% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Romania (X tons) was the main destination for tools for bearing exports from Greece, accounting for a 94% share of total exports. It was followed by the United States (X tons), with a 2.2% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Romania stood at +19.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+103.6% per year) and Cyprus (+1.9% per year).

In value terms, Romania ($X) remains the key foreign market for balls, needles and rollers for ball or roller bearings exports from Greece, comprising 98% of total exports. The second position in the ranking was held by the United States ($X), with a 1.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Romania amounted to +28.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+113.8% per year) and Cyprus (-4.3% per year).

Export Prices by Country

In 2022, the average tools for bearing export price amounted to $X per ton, falling by -11.8% against the previous year. Overall, the export price, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2021 an increase of 184% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the 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 Romania ($X per ton), while the average price for exports to Cyprus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+7.6%), while the prices for the other major destinations experienced mixed trend patterns.

Tools For Bearing Imports

Imports into Greece

In 2022, tools for bearing imports into Greece skyrocketed to X tons, growing by 35% on the previous year. In general, imports saw a significant expansion. The growth pace was the most rapid in 2015 with an increase of 123%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, tools for bearing imports soared to $X in 2022. Overall, imports showed a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 77% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Belgium (X tons) and China (X tons) were the main suppliers of tools for bearing imports to Greece, together accounting for 97% of total imports. The Czech Republic and France lagged somewhat behind, together comprising a further 2.6%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +121.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Belgium ($X) and China ($X) appeared to be the largest tools for bearing suppliers to Greece, with a combined 93% share of total imports. The Czech Republic and France lagged somewhat behind, together accounting for a further 3.7%.

The Czech Republic, with a CAGR of +118.2%, recorded the highest rates of growth with regard to 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

In 2022, the average tools for bearing import price amounted to $X per ton, surging by 7.1% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 33% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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 ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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