Greece: Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size in Greece

The Greek heat exchange unit market skyrocketed to $X in 2022, surging by 122% against the previous year. Over the period under review, consumption, however, continues to indicate a deep contraction. Heat exchange unit consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Heat Exchange Unit Production in Greece

In value terms, heat exchange unit production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible contraction. The most prominent rate of growth was recorded in 2018 with an increase of 659% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Heat Exchange Unit Exports

Exports from Greece

In 2022, approx. X units of heat exchange units were exported from Greece; reducing by -27.8% on the previous year. Over the period under review, exports continue to indicate a sharp decrease. The pace of growth was the most pronounced in 2015 with an increase of 87%. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, heat exchange unit exports declined slightly to $X in 2022. In general, exports faced a sharp decrease. The most prominent rate of growth was recorded in 2015 with an increase of 74%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Hungary (X units), Cyprus (X units) and Malta (X units) were the main destinations of heat exchange unit exports from Greece, together comprising 57% of total exports.

From 2012 to 2022, the biggest increases were recorded for Malta (with a CAGR of +39.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cyprus ($X), Hungary ($X) and Malta ($X) appeared to be the largest markets for heat exchange unit exported from Greece worldwide, with a combined 42% share of total exports.

Among the main countries of destination, Malta, with a CAGR of +45.4%, saw the highest growth rate of 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

The average heat exchange unit export price stood at $X per unit in 2022, picking up by 32% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 55% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 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 Bulgaria ($X per unit), while the average price for exports to Albania ($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 Panama (+16.0%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Exchange Unit Imports

Imports into Greece

In 2022, heat exchange unit imports into Greece reduced dramatically to X units, shrinking by -65.8% against the year before. Over the period under review, imports, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2021 when imports increased by 258% against the previous year. As a result, imports attained the peak of X units, and then dropped markedly in the following year.

In value terms, heat exchange unit imports dropped sharply to $X in 2022. Overall, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 151% against the previous year. As a result, imports reached the peak of $X, and then contracted remarkably in the following year.

Imports by Country

In 2022, Italy (X units) constituted the largest supplier of heat exchange unit to Greece, accounting for a 32% share of total imports. Moreover, heat exchange unit imports from Italy exceeded the figures recorded by the second-largest supplier, Belgium (X units), twofold. Germany (X units) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy amounted to +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+25.3% per year) and Germany (+6.1% per year).

In value terms, Italy ($X), Germany ($X) and Hungary ($X) appeared to be the largest heat exchange unit suppliers to Greece, together accounting for 61% of total imports. China, Belgium, Sweden and North Macedonia lagged somewhat behind, together accounting for a further 26%.

In terms of the main suppliers, China, with a CAGR of +47.9%, recorded the highest rates of growth with regard to 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 heat exchange unit import price amounted to $X per unit, growing by 35% against the previous year. Overall, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, heat exchange unit import price decreased by -14.8% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 37%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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