Greece: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Greece

The Greek hydraulic cylinder and system market shrank sharply to $X in 2022, which is down by -35.7% 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). In general, consumption, however, recorded a buoyant expansion. Over the period under review, the market attained the peak level at $X in 2021, and then shrank notably in the following year.

Exports of Hydraulic Cylinders And Systems

Exports from Greece

For the third consecutive year, Greece recorded growth in overseas shipments of hydraulic cylinders and systems, which increased by 21% to X units in 2022. In general, exports saw a tangible increase. The pace of growth was the most pronounced in 2015 when exports increased by 937% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, hydraulic cylinder and system exports rose to $X in 2022. Over the period under review, exports posted modest growth. The most prominent rate of growth was recorded in 2015 when exports increased by 771%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Spain (X units) was the main destination for hydraulic cylinder and system exports from Greece, with a 30% share of total exports. Moreover, hydraulic cylinder and system exports to Spain exceeded the volume sent to the second major destination, Bulgaria (X units), threefold. The third position in this ranking was held by Israel (X units), with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume to Spain was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (-2.5% per year) and Israel (+58.8% per year).

In value terms, the largest markets for hydraulic cylinder and system exported from Greece were Spain ($X), Cyprus ($X) and Bulgaria ($X), together comprising 39% of total exports. Switzerland, the United States, Israel, Malta, Marshall Islands, Turkey, Singapore, Austria, Argentina and Albania lagged somewhat behind, together accounting for a further 49%.

Austria, with a CAGR of +62.7%, saw the highest growth rate of the value of exports, among 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

In 2022, the average hydraulic cylinder and system export price amounted to $X per unit, declining by -15.8% against the previous year. In general, the export price saw a noticeable setback. The most prominent rate of growth was recorded in 2013 when the average export price increased by 160% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Spain ($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 Singapore (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Cylinders And Systems

Imports into Greece

In 2022, approx. X units of hydraulic cylinders and systems were imported into Greece; with a decrease of -40.1% against the year before. Overall, imports, however, posted buoyant growth. The growth pace was the most rapid in 2021 when imports increased by 181%. As a result, imports attained the peak of X units, and then dropped markedly in the following year.

In value terms, hydraulic cylinder and system imports declined dramatically to $X in 2022. In general, imports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by 120% against the previous year. As a result, imports attained the peak of $X, and then reduced sharply in the following year.

Imports by Country

Sweden (X units), Italy (X units) and India (X units) were the main suppliers of hydraulic cylinder and system imports to Greece, together comprising 59% of total imports. Germany, Bangladesh, China, Turkey, Austria, Japan, the Netherlands and Bulgaria lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +61.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of hydraulic cylinders and systems to Greece, comprising 33% of total imports. The second position in the ranking was held by Italy ($X), with a 14% share of total imports. It was followed by Sweden, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +18.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+10.8% per year) and Sweden (+30.5% per year).

Import Prices by Country

In 2022, the average hydraulic cylinder and system import price amounted to $X per unit, jumping by 19% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 47%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average 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 the Netherlands ($X per unit), while the price for Bangladesh (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+23.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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