Greece: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in Greece

The Greek ball bearing parts market declined notably to $X in 2021, dropping by -17.2% 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). Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Ball bearing parts consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Ball Bearing Parts Exports

Exports from Greece

In 2021, approx. X tons of parts of ball or roller bearings were exported from Greece; jumping by 15% against the previous year. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 2,103%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, ball bearing parts exports soared to $X in 2021. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 704% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Bulgaria (X tons) was the main destination for ball bearing parts exports from Greece, accounting for a 73% share of total exports. Moreover, ball bearing parts exports to Bulgaria exceeded the volume sent to the second major destination, France (X kg), more than tenfold. China (X kg) ranked third in terms of total exports with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bulgaria amounted to +54.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+52.1% per year) and China (+140.7% per year).

In value terms, Bulgaria ($X) remains the key foreign market for parts of ball or roller bearings exports from Greece, comprising 35% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 16% share of total exports. It was followed by Liberia, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value to Bulgaria totaled +42.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+44.3% per year) and Liberia (+158.1% per year).

Export Prices by Country

In 2021, the average ball bearing parts export price amounted to $X per ton, remaining stable against the previous year. Overall, the export price, however, continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2014 an increase of 34%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Bulgaria ($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 Saudi Arabia (+49.3%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Parts Imports

Imports into Greece

In 2021, ball bearing parts imports into Greece shrank sharply to X tons, with a decrease of -20% on 2020. Over the period under review, imports, however, posted a moderate increase. The pace of growth was the most pronounced in 2016 when imports increased by 102% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, ball bearing parts imports surged to $X in 2021. In general, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.1% 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 +57.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 34% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of ball bearing parts to Greece, with a 33% share of total imports. Moreover, ball bearing parts imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. The third position in this ranking was taken by Italy (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+4.4% per year) and Italy (+7.0% per year).

In value terms, the largest ball bearing parts suppliers to Greece were France ($X), Germany ($X) and Slovenia ($X), together accounting for 70% of total imports.

Among the main suppliers, Slovenia, with a CAGR of +197.0%, 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 ball bearing parts import price amounted to $X per ton, increasing by 46% against the previous year. In general, import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the average import price increased by 69%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovenia (+22.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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