Greece: Gear Box Market 2025

Gear Box Market Size in Greece

The Greek gear box market contracted dramatically to $X in 2022, reducing by -43.4% 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). Overall, consumption showed a deep slump. Gear box consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Gear Box Exports

Exports from Greece

For the third year in a row, Greece recorded growth in overseas shipments of gear boxes, which increased by 87% to X units in 2022. In general, exports continue to indicate significant growth. The growth pace was the most rapid in 2021 with an increase of 275% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, gear box exports declined to $X in 2022. Overall, exports showed strong growth. The most prominent rate of growth was recorded in 2015 when exports increased by 115%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Pakistan (X units) was the main destination for gear box exports from Greece, with a 89% share of total exports. It was followed by the United Arab Emirates (X units), with a 1.8% share of total exports. Romania (X units) ranked third in terms of total exports with a 1.6% share.

From 2012 to 2022, the average annual growth rate of volume to Pakistan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+47.1% per year) and Romania (+12.4% per year).

In value terms, the largest markets for gear box exported from Greece were Bulgaria ($X), Pakistan ($X) and Cyprus ($X), with a combined 51% share of total exports. The United Arab Emirates and Romania lagged somewhat behind, together comprising a further 14%.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +37.3%, 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 gear box export price amounted to $X per unit, shrinking by -47.9% against the previous year. Over the period under review, the export price continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2015 an increase of 147%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bulgaria ($X per unit), while the average price for exports to Pakistan ($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 Bulgaria (+9.4%), while the prices for the other major destinations experienced a decline.

Gear Box Imports

Imports into Greece

In 2022, supplies from abroad of gear boxes increased by 2.2% to X units, rising for the third year in a row after three years of decline. Overall, imports enjoyed notable growth. The pace of growth appeared the most rapid in 2021 with an increase of 115% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, gear box imports surged to $X in 2022. In general, total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.9% 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 +70.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 34%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X units), Italy (X units) and Poland (X units) were the main suppliers of gear box imports to Greece, together comprising 66% of total imports. The UK, Japan, China, the Czech Republic, Lithuania, Bulgaria, South Korea, Austria, Romania and Belgium lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +82.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Poland ($X) appeared to be the largest gear box suppliers to Greece, with a combined 66% share of total imports. The UK, Bulgaria, Japan, Belgium, Lithuania, the Czech Republic, Romania, South Korea, Austria and China lagged somewhat behind, together accounting for a further 27%.

In terms of the main suppliers, Bulgaria, with a CAGR of +72.1%, saw the highest growth rate of the value of imports, 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 gear box import price amounted to $X per unit, growing by 25% against the previous year. Over the period under review, the import price, however, continues to indicate a slight curtailment. The growth pace was the most rapid in 2017 an increase of 36%. Over the period under review, average import prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2022, 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 Belgium ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+20.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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