Greece: Non-Electric Motor Handtools Market 2024

Non-Electric Motor Handtools Market Size in Greece

In 2022, after two years of growth, there was significant decline in the Greek non-electric motor handtools market, when its value decreased by -37.9% to $X. Overall, consumption, however, showed resilient growth. As a result, consumption reached the peak level of $X, and then contracted sharply in the following year.

Non-Electric Motor Handtools Exports

Exports from Greece

For the fifth consecutive year, Greece recorded growth in overseas shipments of handtools, hydraulic or with a self-contained non-electric motor, which increased by 28% to X units in 2022. In general, exports recorded significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 382% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, non-electric motor handtools exports surged to $X in 2022. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 261%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Cyprus (X units) was the main destination for non-electric motor handtools exports from Greece, with a 40% share of total exports. Moreover, non-electric motor handtools exports to Cyprus exceeded the volume sent to the second major destination, Poland (X units), fourfold. The third position in this ranking was held by Bulgaria (X units), with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cyprus totaled +35.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+163.5% per year) and Bulgaria (+70.7% per year).

In value terms, Cyprus ($X) remains the key foreign market for handtools, hydraulic or with a self-contained non-electric motor exports from Greece, comprising 45% of total exports. The second position in the ranking was taken by Bulgaria ($X), with an 11% share of total exports. It was followed by Italy, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Cyprus totaled +36.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+69.7% per year) and Italy (+7.6% per year).

Export Prices by Country

In 2022, the average non-electric motor handtools export price amounted to $X per unit, growing by 9.5% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 56% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a lower figure.

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 Albania ($X per unit), while the average price for exports to Poland ($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 Malta (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Motor Handtools Imports

Imports into Greece

After two years of growth, overseas purchases of handtools, hydraulic or with a self-contained non-electric motor decreased by -32.7% to X units in 2022. Overall, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 64%. Imports peaked at X units in 2021, and then fell remarkably in the following year.

In value terms, non-electric motor handtools imports declined sharply to $X in 2022. Over the period under review, imports, however, recorded strong growth. The growth pace was the most rapid in 2021 with an increase of 49%. As a result, imports reached the peak of $X, and then declined significantly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-electric motor handtools to Greece, with a 35% share of total imports. Moreover, non-electric motor handtools imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The United States (X units) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +22.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+12.9% per year) and the United States (+20.2% per year).

In value terms, China ($X) constituted the largest supplier of handtools, hydraulic or with a self-contained non-electric motor to Greece, comprising 35% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by the United States, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +17.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.8% per year) and the United States (+14.8% per year).

Import Prices by Country

The average non-electric motor handtools import price stood at $X per unit in 2022, declining by -2% against the previous year. Over the period under review, the import price saw a perceptible curtailment. The most prominent rate of growth was recorded in 2019 an increase of 18%. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were China ($X per unit) and the United States ($X per unit), while the price for Austria ($X per unit) and Japan ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (-4.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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