Greece: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Greece

The Greek grinding and sharpening machine market expanded significantly to $X in 2022, growing by 13% 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, however, saw a perceptible downturn. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Greece

Grinding and sharpening machine exports from Greece soared to X units in 2022, with an increase of 344% compared with 2021 figures. In general, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, grinding and sharpening machine exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2015 with an increase of 6,344%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Spain (X units) was the main destination for grinding and sharpening machine exports from Greece, with a 72% share of total exports. Moreover, grinding and sharpening machine exports to Spain exceeded the volume sent to the second major destination, Hungary (X units), fourfold. Poland (X units) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain stood at +577.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (0.0% per year) and Poland (+98.5% per year).

In value terms, Bulgaria ($X) remains the key foreign market for grinding and sharpening metal finishing machines exports from Greece, comprising 28% of total exports. The second position in the ranking was held by Cyprus ($X), with a 2.7% share of total exports. It was followed by Hungary, with a 2.6% share.

From 2012 to 2022, the average annual growth rate of value to Bulgaria totaled -9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+0.9% per year) and Hungary (0.0% per year).

Export Prices by Country

In 2022, the average grinding and sharpening machine export price amounted to $X per unit, reducing by -44.4% against the previous year. Overall, the export price showed a deep downturn. The most prominent rate of growth was recorded in 2015 an increase of 22,124% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bulgaria ($X per unit), while the average price for exports to Spain ($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 (+67.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Greece

In 2022, the amount of grinding and sharpening metal finishing machines imported into Greece soared to X units, increasing by 45% on the previous year's figure. In general, imports, however, continue to indicate a mild reduction. The growth pace was the most rapid in 2018 when imports increased by 259%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, grinding and sharpening machine imports fell significantly to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 260%. As a result, imports reached the peak of $X, and then shrank notably in the following year.

Imports by Country

Austria (X units), China (X units) and Germany (X units) were the main suppliers of grinding and sharpening machine imports to Greece, together accounting for 94% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +2.8%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Austria ($X), China ($X) and Germany ($X) constituted the largest grinding and sharpening machine suppliers to Greece, together accounting for 50% of total imports.

Among the main suppliers, Austria, with a CAGR of +3.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average grinding and sharpening machine import price stood at $X per unit in 2022, declining by -49.3% against the previous year. Over the period under review, the import price, however, showed a slight increase. The growth pace was the most rapid in 2016 when the average import price increased by 383%. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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