Greece: Power Tool Market 2024

Power Tool Market Size in Greece

The Greek power tool market soared to $X in 2021, picking up by 36% 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 posted a buoyant expansion. Power tool consumption peaked in 2021 and is likely to continue growth in the immediate term.

Power Tool Exports

Exports from Greece

In 2021, shipments abroad of power tools increased by 156% to X units, rising for the second year in a row after two years of decline. Overall, exports saw a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 445%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, power tool exports skyrocketed to $X in 2021. Over the period under review, exports posted a significant increase. The pace of growth was the most pronounced in 2017 when exports increased by 135% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

Exports by Country

Cyprus (X units), Italy (X units) and Germany (X units) were the main destinations of power tool exports from Greece, together accounting for 27% of total exports. These countries were followed by Romania, Bulgaria, Serbia, the Czech Republic, Lithuania and Belgium, which together accounted for a further 15%.

From 2012 to 2021, the biggest increases were recorded for Lithuania (with a CAGR of +712.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cyprus ($X), Germany ($X) and the Czech Republic ($X) appeared to be the largest markets for power tool exported from Greece worldwide, together comprising 51% of total exports. These countries were followed by Bulgaria, Italy, Serbia, Lithuania, Romania and Belgium, which together accounted for a further 28%.

Among the main countries of destination, Lithuania, with a CAGR of +647.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average power tool export price amounted to $X per unit, dropping by -44% against the previous year. In general, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2018 an increase of 158% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the Czech Republic ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+8.4%), while the prices for the other major destinations experienced mixed trend patterns.

Power Tool Imports

Imports into Greece

Power tool imports into Greece soared to X units in 2021, with an increase of 34% compared with 2020 figures. In general, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 75%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, power tool imports surged to $X in 2021. Over the period under review, imports posted prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest power tool supplier to Greece, accounting for a 42% share of total imports. Moreover, power tool imports from China exceeded the figures recorded by the second-largest supplier, Austria (X units), threefold. The third position in this ranking was held by Belgium (X units), with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +18.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+14.2% per year) and Belgium (+8.0% per year).

In value terms, China ($X) constituted the largest supplier of power tools to Greece, comprising 43% of total imports. The second position in the ranking was held by Germany ($X), with a 16% share of total imports. It was followed by Belgium, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +22.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.9% per year) and Belgium (+11.9% per year).

Import Prices by Country

In 2021, the average power tool import price amounted to $X per unit, jumping by 24% against the previous year. In general, import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, power tool import price increased by +31.0% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 48%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+26.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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