Greece: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Greece

The Greek gearboxes and speed changers market rose modestly to $X in 2022, with an increase of X% against the previous year. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2015 indices. Over the period under review, the market reached the maximum level in 2022 and is likely to see steady growth in years to come.

Production of Gearboxes and Speed Changers in Greece

In value terms, gearboxes and speed changers production rose to $X in 2022 estimated in export price. In general, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Gearboxes and Speed Changers

Exports from Greece

In 2022, the amount of gearboxes and speed changers exported from Greece declined markedly to X tons, reducing by X% on 2021. Overall, exports saw a perceptible downturn. The growth pace was the most rapid in 2019 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, gearboxes and speed changers exports expanded significantly to $X in 2022. In general, exports, however, recorded slight growth. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Bulgaria (X tons) was the main destination for gearboxes and speed changers exports from Greece, with a X% share of total exports. Moreover, gearboxes and speed changers exports to Bulgaria exceeded the volume sent to the second major destination, Cyprus (X tons), twofold. Norway (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Bulgaria amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (X% per year) and Norway (X% per year).

In value terms, the largest markets for gearboxes and speed changers exported from Greece were Norway ($X), Cyprus ($X) and Bulgaria ($X), with a combined X% share of total exports.

Norway, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average gearboxes and speed changers export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Serbia ($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 Norway (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gearboxes and Speed Changers

Imports into Greece

In 2022, supplies from abroad of gearboxes and speed changers increased by X% to X tons, rising for the third year in a row after two years of decline. In general, total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, gearboxes and speed changers imports soared to $X in 2022. Over the period under review, imports enjoyed a strong expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

Imports by Country

Italy (X tons), Germany (X tons) and China (X tons) were the main suppliers of gearboxes and speed changers imports to Greece, with a combined X% share of total imports. Bulgaria, Spain and Turkey lagged somewhat behind, together comprising a further X%.

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

In value terms, Italy ($X), Germany ($X) and China ($X) constituted the largest gearboxes and speed changers suppliers to Greece, with a combined X% share of total imports. Bulgaria, Spain and Turkey lagged somewhat behind, together accounting for a further X%.

Spain, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gearboxes and speed changers import price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gearboxes and speed changers import price decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2016 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 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 Bulgaria ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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