Greece: Roller Bearing Market 2024

Roller Bearing Market Size in Greece

The Greek roller bearing market skyrocketed to $X in 2022, jumping by 304% 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 continues to indicate a strong increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Roller Bearing Exports

Exports from Greece

Roller bearing exports from Greece expanded sharply to X tons in 2022, picking up by 6.7% against the previous year. In general, exports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2019 when exports increased by 87%. The Greece exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, roller bearing exports rose modestly to $X in 2022. Overall, exports, however, saw a noticeable decrease. The growth pace was the most rapid in 2017 with an increase of 100%. The Greece exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

China represented the largest exporter of roller bearings in the world, with the volume of exports amounting to X tons, which was approx. 43% of total exports in 2022. Singapore (X tons) took the second position in the ranking, followed by Germany (X tons), France (X tons), Slovakia (X tons) and the United States (X tons). All these countries together took approx. 30% share of total exports. Italy (X tons), South Korea (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Turkey (X tons), Austria (X tons) and Romania (X tons) held a minor share of total exports.

Exports from China increased at an average annual rate of +22.6% from 2012 to 2022. At the same time, Indonesia (+35.7%), Turkey (+8.5%), Singapore (+1.2%) and Slovakia (+1.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +35.7% from 2012-2022. By contrast, Italy (-1.9%), Germany (-2.0%), France (-2.2%), South Korea (-9.7%), Hong Kong SAR (-13.7%), the United States (-18.4%), Austria (-22.3%) and Romania (-22.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Indonesia increased by +37 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest roller bearing supplying countries from Greece were China ($X), Singapore ($X) and Germany ($X), with a combined 45% share of total exports. Italy, the United States, France, Hong Kong SAR, Slovakia, South Korea, Austria, Turkey, Indonesia and Romania lagged somewhat behind, together comprising a further 31%.

In terms of the main exporting countries, Indonesia, with a CAGR of +16.1%, saw 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 2022, the export price in Greece amounted to $X per ton, declining by -3.8% against the previous year. Over the period under review, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, roller bearing export price decreased by -38.7% against 2020 indices. The pace of growth appeared the most rapid in 2015 an increase of 72% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.3%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Greece

In 2022, purchases abroad of roller bearings increased by 337% to X tons, rising for the second year in a row after three years of decline. Overall, imports posted a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, roller bearing imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand (X tons) and Indonesia (X tons) represented roughly 32% of total imports in 2022. It was distantly followed by Germany (X tons), creating a 6.2% share of total imports. India (X tons), Italy (X tons), Canada (X tons), Malaysia (X tons), Spain (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Poland (X tons) and Austria (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +18.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest roller bearing importing markets into Greece were Indonesia ($X), Germany ($X) and India ($X), with a combined 24% share of total imports.

In terms of the main importing countries, Indonesia, with a CAGR of +4.2%, 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 2022, the import price in Greece amounted to $X per ton, shrinking by -25.8% against the previous year. Overall, the import price saw a noticeable downturn. The growth pace was the most rapid in 2015 when the import price increased by 26%. Over the period under review, import prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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