Greece: Microwave Oven Market 2025

Microwave Oven Market Size in Greece

The Greek microwave oven market rose notably to $X in 2022, surging by 7.7% 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, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -15.3% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Microwave Oven Exports

Exports from Greece

In 2022, after three years of growth, there was decline in shipments abroad of microwave ovens, when their volume decreased by -3.1% to X units. Overall, exports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 145% against the previous year. As a result, the exports attained the peak of X units, and then shrank slightly in the following year.

In value terms, microwave oven exports surged to $X in 2022. Over the period under review, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 67% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Cyprus (X units) was the main destination for microwave oven exports from Greece, with a 87% share of total exports. Moreover, microwave oven exports to Cyprus exceeded the volume sent to the second major destination, the Czech Republic (X units), more than tenfold. The third position in this ranking was taken by Bulgaria (X units), with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume to Cyprus amounted to +18.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+4.0% per year) and Bulgaria (-12.4% per year).

In value terms, Cyprus ($X) remains the key foreign market for microwave ovens exports from Greece, comprising 93% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 1.7% share of total exports. It was followed by France, with a 1.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Cyprus stood at +12.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (-0.3% per year) and France (+259.3% per year).

Export Prices by Country

In 2022, the average microwave oven export price amounted to $X per unit, rising by 37% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 46% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 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 Cyprus ($X per unit), while the average price for exports to Bulgaria ($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 France (+74.9%), while the prices for the other major destinations experienced more modest paces of growth.

Microwave Oven Imports

Imports into Greece

Microwave oven imports into Greece fell modestly to X units in 2022, with a decrease of -3.7% compared with the previous year. Over the period under review, imports, however, recorded a pronounced expansion. The pace of growth was the most pronounced in 2019 when imports increased by 112% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, microwave oven imports soared to $X in 2022. In general, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.6% against 2014 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 27%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest microwave oven supplier to Greece, with a 73% share of total imports. Moreover, microwave oven imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), more than tenfold. Germany (X units) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-1.7% per year) and Germany (+2.3% per year).

In value terms, China ($X) constituted the largest supplier of microwave ovens to Greece, comprising 57% of total imports. The second position in the ranking was taken by Germany ($X), with a 22% share of total imports. It was followed by Malaysia, with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.6% per year) and Malaysia (-0.1% per year).

Import Prices by Country

In 2022, the average microwave oven import price amounted to $X per unit, picking up by 20% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 46%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Bulgaria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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