Greece: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in Greece

After six years of growth, the Greek gym and fitness equipment market decreased by -20.4% to $X in 2022. Over the period under review, consumption, however, showed a resilient expansion. As a result, consumption reached the peak level of $X, and then fell remarkably in the following year.

Production of Gym and Fitness Equipment in Greece

In value terms, gym and fitness equipment production dropped to $X in 2022 estimated in export price. In general, production, however, recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 when the production volume increased by 2.1% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Gym and Fitness Equipment

Exports from Greece

For the fifth consecutive year, Greece recorded growth in shipments abroad of gym and fitness equipment, which increased by 213% to X tons in 2022. In general, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, gym and fitness equipment exports skyrocketed to $X in 2022. Overall, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons) was the main destination for gym and fitness equipment exports from Greece, with a 44% share of total exports. Moreover, gym and fitness equipment exports to Italy exceeded the volume sent to the second major destination, Romania (X tons), threefold. The third position in this ranking was taken by Spain (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Italy amounted to +132.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+60.8% per year) and Spain (+170.5% per year).

In value terms, Italy ($X) emerged as the key foreign market for gym and fitness equipment exports from Greece, comprising 40% of total exports. The second position in the ranking was held by Romania ($X), with an 11% share of total exports. It was followed by Hungary, with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy amounted to +104.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+30.9% per year) and Hungary (+409.0% per year).

Export Prices by Country

The average gym and fitness equipment export price stood at $X per ton in 2022, declining by -28.9% against the previous year. Over the period under review, the export price showed a abrupt decline. The pace of growth was the most pronounced in 2014 when the average export price increased by 43%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 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 ($X per ton), while the average price for exports to Spain ($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 Cyprus (+0.7%), while the prices for the other major destinations experienced a decline.

Imports of Gym and Fitness Equipment

Imports into Greece

In 2022, overseas purchases of gym and fitness equipment increased by 26% to X tons, rising for the seventh consecutive year after two years of decline. Overall, imports posted a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 110%. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, gym and fitness equipment imports reached $X in 2022. In general, imports recorded a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of 91%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) was the main gym and fitness equipment supplier to Greece, accounting for a 92% share of total imports. It was followed by Austria (X tons), with a 2.8% share of total imports. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 0.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +24.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+29.4% per year) and Taiwan (Chinese) (+0.8% per year).

In value terms, China ($X) constituted the largest supplier of gym and fitness equipment to Greece, comprising 69% of total imports. The second position in the ranking was held by Austria ($X), with a 4.2% share of total imports. It was followed by Taiwan (Chinese), with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+24.7% per year) and Taiwan (Chinese) (+4.7% per year).

Import Prices by Country

In 2022, the average gym and fitness equipment import price amounted to $X per ton, shrinking by -20.2% against the previous year. Overall, the import price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2014 an increase of 24%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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