Greece: Motorcycle And Bicycle Market 2024

Motorcycle And Bicycle Market Size in Greece

In 2021, the Greek motorcycle and bicycle market increased by 25% to $X, rising for the third year in a row after two years of decline. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +77.8% against 2018 indices. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in the immediate term.

Motorcycle And Bicycle Production in Greece

In value terms, motorcycle and bicycle production fell dramatically to $X in 2021 estimated in export price. Overall, production, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2019 when the production volume increased by 20% against the previous year. Motorcycle and bicycle production peaked at $X in 2020, and then declined significantly in the following year.

Motorcycle And Bicycle Exports

Exports from Greece

Motorcycle and bicycle exports from Greece skyrocketed to X units in 2021, growing by 56% on the previous year's figure. In general, exports enjoyed a significant expansion. The growth pace was the most rapid in 2018 with an increase of 438% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, motorcycle and bicycle exports soared to $X in 2021. Over the period under review, exports continue to indicate resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Cyprus (X units) was the main destination for motorcycle and bicycle exports from Greece, with a 29% share of total exports. Moreover, motorcycle and bicycle exports to Cyprus exceeded the volume sent to the second major destination, Bulgaria (X units), threefold. Germany (X units) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cyprus stood at +20.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+21.3% per year) and Germany (+19.8% per year).

In value terms, the largest markets for motorcycle and bicycle exported from Greece were the Netherlands ($X), Cyprus ($X) and Germany ($X), with a combined 75% share of total exports. Romania, Bulgaria, Malta and Italy lagged somewhat behind, together comprising a further 15%.

In terms of the main countries of destination, Malta, with a CAGR of +53.2%, saw the highest growth rate of 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 motorcycle and bicycle export price amounted to $X per unit, picking up by 8.8% against the previous year. Overall, the export price, however, recorded a drastic downturn. The growth pace was the most rapid in 2019 an increase of 236%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Bulgaria ($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 the Netherlands (+12.3%), while the prices for the other major destinations experienced mixed trend patterns.

Motorcycle And Bicycle Imports

Imports into Greece

In 2021, supplies from abroad of motorcycles and bicycles increased by 67% to X units, rising for the fourth consecutive year after five years of decline. In general, imports posted a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, motorcycle and bicycle imports skyrocketed to $X in 2021. Overall, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +123.8% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Turkey (X units) and Italy (X units) were the main suppliers of motorcycle and bicycle imports to Greece, with a combined 73% share of total imports. These countries were followed by Tunisia, Serbia, Bulgaria, Germany, France, Taiwan (Chinese), Vietnam, Indonesia, the Netherlands and Thailand, which together accounted for a further 37%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +34.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), China ($X) and Germany ($X) constituted the largest motorcycle and bicycle suppliers to Greece, together accounting for 55% of total imports. These countries were followed by France, Taiwan (Chinese), Vietnam, Turkey, Thailand, the Netherlands, Tunisia, Indonesia, Bulgaria and Serbia, which together accounted for a further 30%.

Among the main suppliers, Vietnam, with a CAGR of +62.2%, recorded the highest rates of growth with regard to the value of imports, 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 motorcycle and bicycle import price amounted to $X per unit, waning by -20.5% against the previous year. Over the period under review, import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, motorcycle and bicycle import price decreased by -47.0% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 44%. Over the period under review, average import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat 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 Thailand ($X per unit), while the price for Tunisia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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