Greece: Public Works Machinery Market 2024

Public Works Machinery Market Size in Greece

The Greek public works machinery market soared to $X in 2021, jumping by 32% against the previous year. In general, consumption showed resilient growth. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Public Works Machinery Production in Greece

In value terms, public works machinery production soared to $X in 2021 estimated in export price. Over the period under review, production showed prominent growth. The pace of growth appeared the most rapid in 2015 when the production volume increased by 78%. Public works machinery production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Public Works Machinery Exports

Exports from Greece

In 2021, approx. X units of machinery for public works and building were exported from Greece; reducing by -92.1% compared with the previous year. Overall, exports faced a sharp setback. The most prominent rate of growth was recorded in 2020 with an increase of 218% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, public works machinery exports contracted notably to $X in 2021. In general, exports recorded a sharp descent. The pace of growth appeared the most rapid in 2020 when exports increased by 826%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) was the main destination for public works machinery exports from Greece, accounting for a 43% share of total exports. Moreover, public works machinery exports to the United Arab Emirates exceeded the volume sent to the second major destination, Bulgaria (X units), threefold. Albania (X units) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates amounted to +13.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (0.0% per year) and Albania (-11.5% per year).

In value terms, Egypt ($X), the United Arab Emirates ($X) and Germany ($X) appeared to be the largest markets for public works machinery exported from Greece worldwide, together accounting for 71% of total exports.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +7.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average public works machinery export price stood at $X per unit in 2021, jumping by 46% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable setback. The pace of growth was the most pronounced in 2020 when the average export price increased by 192% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Egypt ($X per unit), while the average price for exports to Bulgaria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Public Works Machinery Imports

Imports into Greece

In 2021, overseas purchases of machinery for public works and building increased by 78% to X units for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, showed a slight shrinkage. The pace of growth was the most pronounced in 2014 when imports increased by 793% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, public works machinery imports surged to $X in 2021. Over the period under review, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 673% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China (X units), Germany (X units) and Belgium (X units) were the main suppliers of public works machinery imports to Greece, with a combined 74% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +59.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of machinery for public works and building to Greece, comprising 60% of total imports. The second position in the ranking was held by Belgium ($X), with a 20% share of total imports. It was followed by the Netherlands, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +111.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+118.9% per year) and the Netherlands (+59.4% per year).

Import Prices by Country

The average public works machinery import price stood at $X per unit in 2021, growing by 100% against the previous year. In general, the import price showed a significant increase. The pace of growth was the most pronounced in 2018 an increase of 420%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+26.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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