Greece: Crane Market 2024

Crane Market Size in Greece

In 2022, the Greek crane market decreased by -20.7% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2021, and then fell dramatically in the following year.

Crane Production in Greece

In value terms, crane production rose slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a slight decline. The most prominent rate of growth was recorded in 2017 with an increase of 304% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Crane Exports

Exports from Greece

In 2022, overseas shipments of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane increased by 56% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2018 when exports increased by 174%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, crane exports soared to $X in 2022. In general, exports, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2018 when exports increased by 529% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cyprus (X units) was the main destination for crane exports from Greece, with a 53% share of total exports. Moreover, crane exports to Cyprus exceeded the volume sent to the second major destination, Malaysia (X units), threefold. Serbia (X units) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cyprus amounted to +12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+34.8% per year) and Serbia (+5.3% per year).

In value terms, Cyprus ($X) remains the key foreign market for derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane exports from Greece, comprising 55% of total exports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total exports. It was followed by Turkey, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value to Cyprus totaled +11.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+18.8% per year) and Turkey (+6.6% per year).

Export Prices by Country

In 2022, the average crane export price amounted to $X per unit, rising by 6.3% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 130%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to Egypt ($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 Algeria (+50.7%), while the prices for the other major destinations experienced more modest paces of growth.

Crane Imports

Imports into Greece

In 2022, the amount of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane imported into Greece fell remarkably to X units, with a decrease of -66.7% on 2021. Overall, imports showed a mild downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 405% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, crane imports contracted significantly to $X in 2022. In general, imports recorded a slight shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 347% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Italy (X units), Saudi Arabia (X units) and the Netherlands (X units) were the main suppliers of crane imports to Greece, with a combined 59% share of total imports. France, Austria, Sweden, Germany, Poland, Bulgaria, Denmark, Slovenia, Chile and Turkey lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +68.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane to Greece, comprising 32% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 15% share of total imports. It was followed by the Netherlands, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy totaled +20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (0.0% per year) and the Netherlands (+36.0% per year).

Import Prices by Country

The average crane import price stood at $X per unit in 2022, rising by 12% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 51% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+14.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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