Greece: Motor Vehicle Engine Market 2025

Motor Vehicle Engine Market Size in Greece

The Greek motor vehicle engine market was estimated at $X in 2021, picking up by 2.8% against the previous year. Over the period under review, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.0% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Motor Vehicle Engine Production in Greece

In value terms, motor vehicle engine production rose to $X in 2021 estimated in export price. In general, the total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.3% against 2019 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by 21%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Motor Vehicle Engine Exports

Exports from Greece

In 2021, approx. X tons of motor vehicle engines (spark-ignition) were exported from Greece; shrinking by -84% against the previous year's figure. Overall, exports recorded a sharp slump. The most prominent rate of growth was recorded in 2019 when exports increased by 80% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, motor vehicle engine exports soared to $X in 2021. Over the period under review, exports recorded a abrupt setback. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Lebanon (X tons) was the main destination for motor vehicle engine exports from Greece, with a 64% share of total exports. Moreover, motor vehicle engine exports to Lebanon exceeded the volume sent to the second major destination, the UK (X tons), fivefold. Bulgaria (X kg) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume to Lebanon was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and Bulgaria (-18.9% per year).

In value terms, the UK ($X), Bulgaria ($X) and Lebanon ($X) were the largest markets for motor vehicle engine exported from Greece worldwide, with a combined 77% share of total exports. Belgium, Poland and North Macedonia lagged somewhat behind, together accounting for a further 14%.

In terms of the main countries of destination, North Macedonia, with a CAGR of +48.7%, recorded the highest rates of growth with regard to 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

In 2021, the average motor vehicle engine export price amounted to $X per ton, jumping by 999% against the previous year. Overall, the export price enjoyed significant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Bulgaria ($X per ton), while the average price for exports to Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+351.8%), while the prices for the other major destinations experienced more modest paces of growth.

Motor Vehicle Engine Imports

Imports into Greece

In 2021, supplies from abroad of motor vehicle engines (spark-ignition) was finally on the rise to reach X tons after two years of decline. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 51%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, motor vehicle engine imports soared to $X in 2021. In general, total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of motor vehicle engine to Greece, accounting for a 57% share of total imports. Moreover, motor vehicle engine imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The UK (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-8.2% per year) and the UK (+88.5% per year).

In value terms, China ($X) constituted the largest supplier of motor vehicle engines (spark-ignition) to Greece, comprising 52% of total imports. The second position in the ranking was taken by the UK ($X), with an 18% share of total imports. It was followed by Germany, with an 8.8% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+52.2% per year) and Germany (+37.3% per year).

Import Prices by Country

In 2021, the average motor vehicle engine import price amounted to $X per ton, picking up by 8.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.7%. The most prominent rate of growth was recorded in 2017 an increase of 32%. The import price peaked in 2021 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+60.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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