Greece: Shaft Coupling Market 2024

Shaft Coupling Market Size in Greece

In 2022, the Greek shaft coupling market decreased by -2% to $X for the first time since 2016, thus ending a five-year rising trend. In general, consumption, however, enjoyed a resilient increase. Over the period under review, the market attained the maximum level at $X in 2021, and then dropped in the following year.

Shaft Coupling Exports

Exports from Greece

In 2022, approx. X tons of clutches and shaft couplings were exported from Greece; which is down by -65.9% compared with the previous year's figure. In general, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 107% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, shaft coupling exports contracted significantly to $X in 2022. Overall, exports recorded a deep contraction. The pace of growth was the most pronounced in 2014 with an increase of 91% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Bulgaria (X tons), Cyprus (X tons) and North Macedonia (X kg) were the main destinations of shaft coupling exports from Greece, together accounting for 73% of total exports. Turkey, Poland, Romania and Denmark lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +226.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Cyprus ($X) emerged as the key foreign market for clutches and shaft couplings exports from Greece, comprising 35% of total exports. The second position in the ranking was held by Turkey ($X), with a 16% share of total exports. It was followed by Bulgaria, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Cyprus amounted to -6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-3.1% per year) and Bulgaria (+2.3% per year).

Export Prices by Country

In 2022, the average shaft coupling export price amounted to $X per ton, surging by 60% against the previous year. In general, the export price posted a moderate expansion. The most prominent rate of growth was recorded in 2020 an increase of 206%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Poland ($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 Denmark (+12.7%), while the prices for the other major destinations experienced more modest paces of growth.

Shaft Coupling Imports

Imports into Greece

In 2022, the amount of clutches and shaft couplings imported into Greece fell to X tons, which is down by -13.7% against 2021. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2022: its volume 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, imports increased by +20.8% against 2018 indices. The growth pace was the most rapid in 2014 when imports increased by 62%. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined in the following year.

In value terms, shaft coupling imports reduced slightly to $X in 2022. In general, imports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2018 with an increase of 27% against the previous year. Imports peaked at $X in 2021, and then declined slightly in the following year.

Imports by Country

In 2022, Italy (X tons) constituted the largest supplier of shaft coupling to Greece, accounting for a 49% share of total imports. Moreover, shaft coupling imports from Italy exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by Germany (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Italy amounted to +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.5% per year) and Germany (-4.8% per year).

In value terms, Italy ($X) constituted the largest supplier of clutches and shaft couplings to Greece, comprising 46% of total imports. The second position in the ranking was held by Germany ($X), with an 18% share of total imports. It was followed by Spain, with a 6% share.

From 2012 to 2022, the average annual growth rate of value from Italy amounted to +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.9% per year) and Spain (+45.9% per year).

Import Prices by Country

The average shaft coupling import price stood at $X per ton in 2022, increasing by 13% against the previous year. In general, the import price enjoyed a modest expansion. The pace of growth was the most pronounced in 2017 when the average import price increased by 51%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, 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 the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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