Greece: Electromagnetic Lifting Head Market 2024

Electromagnetic Lifting Head Market Size in Greece

In 2022, the Greek electromagnetic lifting head market increased by 163% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption saw strong growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Electromagnetic Lifting Head Exports

Exports from Greece

In 2022, after three years of growth, there was significant decline in overseas shipments of electromagnets and electromagnetic lifting heads, when their volume decreased by -41.3% to X tons. Overall, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by 173% against the previous year. As a result, the exports attained the peak of X tons, and then reduced rapidly in the following year.

In value terms, electromagnetic lifting head exports dropped remarkably to $X in 2022. In general, exports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 154% against the previous year. As a result, the exports reached the peak of $X, and then dropped dramatically in the following year.

Exports by Country

Italy (X tons), Romania (X tons) and Bulgaria (X tons) were the main destinations of electromagnetic lifting head exports from Greece, together accounting for 63% of total exports. Spain, France and Cyprus lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +215.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Cyprus ($X) and Bulgaria ($X) constituted the largest markets for electromagnetic lifting head exported from Greece worldwide, together accounting for 53% of total exports.

Among the main countries of destination, France, with a CAGR of +373.7%, saw the highest rates of growth with regard to 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 2022, the average electromagnetic lifting head export price amounted to $X per ton, rising by 21% against the previous year. In general, the export price, however, showed a pronounced setback. The most prominent rate of growth was recorded in 2014 an increase of 64%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while the average price for exports to Spain ($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 France (+50.0%), while the prices for the other major destinations experienced mixed trend patterns.

Electromagnetic Lifting Head Imports

Imports into Greece

In 2022, supplies from abroad of electromagnets and electromagnetic lifting heads increased by 100% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 106% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, electromagnetic lifting head imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Germany (X tons) and China (X tons) were the main suppliers of electromagnetic lifting head imports to Greece, together comprising 82% of total imports. Austria, Poland and Turkey lagged somewhat behind, together accounting for a further 9.7%.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +33.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of electromagnets and electromagnetic lifting heads to Greece, comprising 49% of total imports. The second position in the ranking was held by Italy ($X), with a 21% share of total imports. It was followed by Austria, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+18.6% per year) and Austria (+30.8% per year).

Import Prices by Country

The average electromagnetic lifting head import price stood at $X per ton in 2022, with an increase of 16% against the previous year. In general, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electromagnetic lifting head import price increased by +40.9% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 65% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 Poland (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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