Greece: Radiator Market 2024

Radiator Market Size in Greece

The Greek radiator market dropped to $X in 2022, which is down by -9.3% against the previous year. Over the period under review, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +77.2% against 2014 indices. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Radiator Production in Greece

In value terms, radiator production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 5.4% against the previous year. Radiator production peaked at $X in 2020; afterwards, it flattened through to 2022.

Radiator Exports

Exports from Greece

In 2022, approx. X tons of radiators for central heating (not electrically heated) were exported from Greece; dropping by -27.5% on the previous year's figure. Overall, exports faced a abrupt descent. The pace of growth appeared the most rapid in 2015 with an increase of 48% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, radiator exports dropped significantly to $X in 2022. Over the period under review, exports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 13%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Cyprus (X tons) was the main destination for radiator exports from Greece, with a 44% share of total exports. Moreover, radiator exports to Cyprus exceeded the volume sent to the second major destination, Bulgaria (X tons), threefold. Serbia (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Cyprus totaled -13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+1.8% per year) and Serbia (-5.3% per year).

In value terms, Cyprus ($X) remains the key foreign market for radiators for central heating (not electrically heated) exports from Greece, comprising 47% of total exports. The second position in the ranking was held by Bulgaria ($X), with a 13% share of total exports. It was followed by Serbia, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value to Cyprus totaled -12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (-4.9% per year) and Serbia (+0.2% per year).

Export Prices by Country

The average radiator export price stood at $X per ton in 2022, picking up by 5% against the previous year. In general, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, radiator export price increased by +43.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 63%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average 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 North Macedonia ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.

Radiator Imports

Imports into Greece

In 2022, approx. X tons of radiators for central heating (not electrically heated) were imported into Greece; shrinking by -19.1% on the year before. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 34%. As a result, imports attained the peak of X tons, and then contracted rapidly in the following year.

In value terms, radiator imports shrank to $X in 2022. Over the period under review, imports, however, saw a temperate expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 60%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, Turkey (X tons) constituted the largest radiator supplier to Greece, accounting for a 72% share of total imports. Moreover, radiator imports from Turkey exceeded the figures recorded by the second-largest supplier, Italy (X tons), eightfold. Serbia (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey totaled +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-2.7% per year) and Serbia (+39.7% per year).

In value terms, Turkey ($X) constituted the largest supplier of radiators for central heating (not electrically heated) to Greece, comprising 62% of total imports. The second position in the ranking was held by Italy ($X), with a 15% share of total imports. It was followed by Germany, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value from Turkey totaled +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.1% per year) and Germany (-0.9% per year).

Import Prices by Country

The average radiator import price stood at $X per ton in 2022, with an increase of 11% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 19% against the previous year. The import price peaked in 2022 and is likely to continue 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 Italy ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :