Greece: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in Greece

In 2021, after two years of decline, there was significant growth in the Greek flywheels and pulleys market, when its value increased by 7.2% to $X. In general, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +9.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Flywheels and pulleys consumption peaked in 2021 and is expected to retain growth in the near future.

Flywheels And Pulleys Exports

Exports from Greece

In 2021, approx. X tons of flywheels and pulleys were exported from Greece; which is down by -13.4% on the year before. Overall, exports, however, showed prominent growth. The pace of growth appeared the most rapid in 2013 when exports increased by 96%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, flywheels and pulleys exports surged to $X in 2021. Over the period under review, exports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 124% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Cyprus (X tons) was the main destination for flywheels and pulleys exports from Greece, accounting for a 60% share of total exports. Moreover, flywheels and pulleys exports to Cyprus exceeded the volume sent to the second major destination, Bulgaria (X tons), threefold. The third position in this ranking was taken by the Netherlands (X kg), with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cyprus amounted to +27.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+3.6% per year) and the Netherlands (+46.0% per year).

In value terms, Cyprus ($X), Bulgaria ($X) and the Netherlands ($X) constituted the largest markets for flywheels and pulleys exported from Greece worldwide, with a combined 92% share of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of +36.3%, recorded 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

The average flywheels and pulleys export price stood at $X per ton in 2021, growing by 34% against the previous year. Over the period under review, export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, flywheels and pulleys export price increased by +111.6% against 2016 indices. The most prominent rate of growth was recorded in 2017 an increase of 46%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+23.4%), while the prices for the other major destinations experienced more modest paces of growth.

Flywheels And Pulleys Imports

Imports into Greece

In 2021, overseas purchases of flywheels and pulleys increased by 2.1% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 22%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, flywheels and pulleys imports reached $X in 2021. Over the period under review, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +14.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +11.4% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 108% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

Turkey (X tons), Italy (X tons) and China (X tons) were the main suppliers of flywheels and pulleys imports to Greece, together comprising 72% of total imports. Belgium, Germany, France and South Africa lagged somewhat behind, together comprising a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +45.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of flywheels and pulleys to Greece, comprising 40% of total imports. The second position in the ranking was held by Italy ($X), with a 17% share of total imports. It was followed by Germany, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Belgium totaled +47.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+22.5% per year) and Germany (+2.4% per year).

Import Prices by Country

The average flywheels and pulleys import price stood at $X per ton in 2021, with an increase of 7.2% against the previous year. Overall, import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, flywheels and pulleys import price increased by +11.3% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 84%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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