Greece: Market for Equipment For Internal Combustion Engines 2025

Market Size for Equipment For Internal Combustion Engines in Greece

In 2022, the Greek internal combustion engine equipment market increased by 13% to $X, rising for the fourth consecutive year after two years of decline. In general, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 +57.0% against 2018 indices. Internal combustion engine equipment consumption peaked in 2022 and is likely to continue growth in the near future.

Exports of Equipment For Internal Combustion Engines

Exports from Greece

In 2022, overseas shipments of equipment for internal combustion engines decreased by -53.2% to X units, falling for the third year in a row after two years of growth. Overall, exports saw a significant decrease. The pace of growth appeared the most rapid in 2016 when exports increased by 434%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, internal combustion engine equipment exports dropped remarkably to $X in 2022. Over the period under review, exports faced a significant decrease. The growth pace was the most rapid in 2018 with an increase of 319% 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

Bulgaria (X units), Cyprus (X units) and Poland (X units) were the main destinations of internal combustion engine equipment exports from Greece, together comprising 80% of total exports.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +2.6%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for internal combustion engine equipment exported from Greece were Bulgaria ($X), Cyprus ($X) and Poland ($X), with a combined 77% share of total exports. The United Arab Emirates, Croatia, Romania and Portugal lagged somewhat behind, together comprising a further 19%.

Croatia, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average internal combustion engine equipment export price amounted to $X per unit, dropping by -15.2% against the previous year. In general, the export price showed a pronounced reduction. The pace of growth was the most pronounced in 2018 an increase of 74% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Romania ($X per unit) and Cyprus ($X per unit), while the average price for exports to Croatia ($X per unit) and Portugal ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+0.4%), while the prices for the other major destinations experienced a decline.

Imports of Equipment For Internal Combustion Engines

Imports into Greece

In 2022, supplies from abroad of equipment for internal combustion engines increased by 1.6% to X units, rising for the fourth consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 20% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, internal combustion engine equipment imports surged to $X in 2022. In general, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.7% 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 +13.1% against 2019 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 32%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Germany (X units), Italy (X units) and Lithuania (X units) were the main suppliers of internal combustion engine equipment imports to Greece, together accounting for 65% of total imports. Denmark, China, the Netherlands, Poland, Japan, the Czech Republic and the UK lagged somewhat behind, together accounting for a further 23%.

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 +155.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest internal combustion engine equipment suppliers to Greece were Germany ($X), Italy ($X) and Lithuania ($X), together accounting for 65% of total imports. Denmark, China, the Netherlands, Poland, Japan, the Czech Republic and the UK lagged somewhat behind, together accounting for a further 23%.

Poland, with a CAGR of +163.4%, 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 internal combustion engine equipment import price amounted to $X per unit, picking up by 14% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average import price increased by 23%. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Denmark ($X per unit) and Italy ($X per unit), while the price for the UK ($X per unit) and the Czech Republic ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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