Greece: Market for Pneumatic Or Hydraulic Hand Tools 2024

Market Size for Pneumatic Or Hydraulic Hand Tools in Greece

The Greek market for pneumatic or hydraulic hand tools was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Pneumatic Or Hydraulic Hand Tools in Greece

In value terms, pneumatic or hydraulic hand tool production skyrocketed to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 87%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Exports of Pneumatic Or Hydraulic Hand Tools

Exports from Greece

For the fourth consecutive year, Greece recorded growth in shipments abroad of pneumatic or hydraulic hand tools, which increased by 36% to X tons in 2021. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 145% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, pneumatic or hydraulic hand tool exports rose remarkably to $X in 2021. Overall, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2016 when exports increased by 117% 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.

Exports by Country

Cyprus (X tons), Albania (X tons) and Italy (X tons) were the main destinations of pneumatic or hydraulic hand tool exports from Greece, with a combined 63% share of total exports. Lithuania, Serbia, Montenegro, North Macedonia, the Czech Republic, Malta, Slovenia, Hungary, Kosovo and Israel lagged somewhat behind, together comprising a further 31%.

From 2012 to 2021, the biggest increases were recorded for Lithuania (with a CAGR of +894,216.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cyprus ($X) remains the key foreign market for pneumatic or hydraulic hand tools exports from Greece, comprising 48% of total exports. The second position in the ranking was held by Albania ($X), with a 15% share of total exports. It was followed by Italy, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cyprus stood at +36.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (+2.7% per year) and Italy (+4.6% per year).

Export Prices by Country

The average export price for pneumatic or hydraulic hand tools stood at $X per ton in 2021, shrinking by -15.9% against the previous year. Overall, the export price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2017 an increase of 23% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Israel ($X per ton), while the average price for exports to Lithuania ($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 Kosovo (+44.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pneumatic Or Hydraulic Hand Tools

Imports into Greece

In 2021, approx. X tons of pneumatic or hydraulic hand tools were imported into Greece; increasing by 37% against the previous year. In general, imports showed a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, pneumatic or hydraulic hand tool imports surged to $X in 2021. Over the period under review, total imports indicated a strong increase 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 increased by +41.2% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of pneumatic or hydraulic hand tool to Greece, accounting for a 69% share of total imports. Moreover, pneumatic or hydraulic hand tool imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. Sweden (X tons) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.0% per year) and Sweden (+12.7% per year).

In value terms, China ($X) constituted the largest supplier of pneumatic or hydraulic hand tools to Greece, comprising 46% of total imports. The second position in the ranking was held by Germany ($X), with an 11% share of total imports. It was followed by Sweden, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.2% per year) and Sweden (+7.4% per year).

Import Prices by Country

The average import price for pneumatic or hydraulic hand tools stood at $X per ton in 2021, growing by 9% against the previous year. Overall, the import price, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2014 when the average import price increased by 14% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a 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 Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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