Greece: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Greece

The Greek mechanical shovel and excavator market surged to $X in 2021, picking up by 255% 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). Overall, consumption saw significant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Greece

In 2021, shipments abroad of mechanical shovels, excavators and shovel loaders was finally on the rise to reach X units after two years of decline. In general, exports, however, saw a deep setback. The growth pace was the most rapid in 2018 with an increase of 34% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, mechanical shovel and excavator exports contracted sharply to $X in 2021. Overall, exports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2018 when exports increased by 152% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Egypt (X units) was the main destination for mechanical shovel and excavator exports from Greece, with a 37% share of total exports. Moreover, mechanical shovel and excavator exports to Egypt exceeded the volume sent to the second major destination, the Netherlands (X units), fourfold. The third position in this ranking was held by Belgium (X units), with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Egypt amounted to -13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+13.0% per year) and Belgium (+15.3% per year).

In value terms, Luxembourg ($X), Egypt ($X) and Germany ($X) were the largest markets for mechanical shovel and excavator exported from Greece worldwide, with a combined 49% share of total exports.

Luxembourg, with a CAGR of +68.8%, 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

The average mechanical shovel and excavator export price stood at $X per unit in 2021, shrinking by -29.3% against the previous year. Overall, the export price, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 88% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2020, and then declined notably in the following year.

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 Luxembourg ($X per unit), while the average price for exports to the Netherlands ($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 Luxembourg (+47.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Greece

In 2021, approx. X units of mechanical shovels, excavators and shovel loaders were imported into Greece; jumping by 237% compared with 2020 figures. In general, imports saw a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, mechanical shovel and excavator imports soared to $X in 2021. Overall, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 109%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

Japan (X units), France (X units) and China (X units) were the main suppliers of mechanical shovel and excavator imports to Greece, together accounting for 58% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +57.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest mechanical shovel and excavator suppliers to Greece were Belgium ($X), the UK ($X) and the Netherlands ($X), together accounting for 43% of total imports. Germany, France, Italy, Japan and China lagged somewhat behind, together accounting for a further 32%.

China, with a CAGR of +147.7%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average mechanical shovel and excavator import price amounted to $X per unit, dropping by -41.3% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 95%. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Belgium ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+20.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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