Greece: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Greece

The Greek cranks and crankshafts market dropped rapidly to $X in 2022, waning by -15.8% 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, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +6.6% against 2020 indices. Cranks and crankshafts consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Cranks And Crankshafts Exports

Exports from Greece

In 2022, approx. X tons of cranks and crankshafts were exported from Greece; rising by 516% against 2021. In general, exports enjoyed a buoyant increase. The growth pace was the most rapid in 2019 when exports increased by 536% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, cranks and crankshafts exports skyrocketed to $X in 2022. Overall, exports showed strong growth. The most prominent rate of growth was recorded in 2019 when exports increased by 173% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria (X tons) was the main destination for cranks and crankshafts exports from Greece, accounting for a 56% share of total exports. Moreover, cranks and crankshafts exports to Nigeria exceeded the volume sent to the second major destination, South Africa (X tons), threefold. Cyprus (X tons) ranked third in terms of total exports with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume to Nigeria totaled +97.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+55.9% per year) and Cyprus (+1.4% per year).

In value terms, the largest markets for cranks and crankshafts exported from Greece were Nigeria ($X), South Africa ($X) and Bulgaria ($X), together accounting for 67% of total exports. Cyprus, the United States, Italy, France, Poland and Marshall Islands lagged somewhat behind, together accounting for a further 16%.

Poland, with a CAGR of +65.7%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 cranks and crankshafts export price stood at $X per ton in 2022, with a decrease of -64.3% against the previous year. Over the period under review, the export price continues to indicate a deep setback. The pace of growth was the most pronounced in 2020 an increase of 79% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to France ($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 Marshall Islands (+21.2%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into Greece

In 2022, purchases abroad of cranks and crankshafts was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by 31%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, cranks and crankshafts imports rose modestly to $X in 2022. In general, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +8.4% 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 +13.8% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of 42%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of cranks and crankshafts to Greece, with a 56% share of total imports. Moreover, cranks and crankshafts imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. Belgium (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.4% per year) and Belgium (+40.8% per year).

In value terms, China ($X), Germany ($X) and Italy ($X) were the largest cranks and crankshafts suppliers to Greece, with a combined 60% share of total imports. The United States, Belgium, Turkey and Poland lagged somewhat behind, together comprising a further 22%.

Belgium, with a CAGR of +29.5%, saw 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 cranks and crankshafts import price amounted to $X per ton, which is down by -15.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2017 when the average import price increased by 27%. The import price peaked at $X per ton in 2021, and then declined sharply in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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