Greece: Steel Spring Market 2025

Steel Spring Market Size in Greece

The Greek steel spring market surged to $X in 2021, picking up by 47% against the previous year. Overall, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Steel spring consumption peaked in 2021 and is expected to retain growth in the near future.

Steel Spring Production in Greece

In value terms, steel spring production reached $X in 2021 estimated in export price. In general, production, however, continues to indicate a deep reduction. The growth pace was the most rapid in 2018 when the production volume increased by 17% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Steel Spring Exports

Exports from Greece

In 2021, steel spring exports from Greece fell dramatically to X tons, waning by -17.1% on the previous year's figure. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 21% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020, and then reduced markedly in the following year.

In value terms, steel spring exports totaled $X in 2021. In general, exports showed a mild shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 24% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X tons), Poland (X tons) and Serbia (X tons) were the main destinations of steel spring exports from Greece, with a combined 38% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Serbia (with a CAGR of +148.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steel spring exported from Greece were Russia ($X), Cyprus ($X) and France ($X), together comprising 35% of total exports. These countries were followed by Poland, Romania, Serbia, Albania, Lithuania, Saudi Arabia, Ukraine, Croatia and Bulgaria, which together accounted for a further 57%.

Serbia, with a CAGR of +188.5%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average steel spring export price stood at $X per ton in 2021, surging by 21% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Saudi Arabia ($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 Serbia (+16.0%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Spring Imports

Imports into Greece

In 2021, after two years of decline, there was significant growth in purchases abroad of steel springs and leaves for springs, when their volume increased by 22% to X tons. Over the period under review, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +7.7% 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 2014 with an increase of 48% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, steel spring imports skyrocketed to $X in 2021. In general, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -2.0% against 2017 indices. The pace of growth was the most pronounced in 2017 with an increase of 41% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Albania (X tons) constituted the largest steel spring supplier to Greece, with a 45% share of total imports. Moreover, steel spring imports from Albania exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. Italy (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 Albania stood at +39.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+2.0% per year) and Italy (-2.5% per year).

In value terms, Germany ($X), Albania ($X) and Italy ($X) were the largest steel spring suppliers to Greece, together comprising 61% of total imports.

Among the main suppliers, Albania, with a CAGR of +35.3%, 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

The average steel spring import price stood at $X per ton in 2021, with an increase of 3.4% against the previous year. In general, the import price, however, recorded a noticeable shrinkage. The pace of growth was the most pronounced in 2017 an increase of 54% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices failed to regain momentum.

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 Germany ($X per ton), while the price for Albania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+4.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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