Greece: Transmission Shaft Market 2024

Transmission Shaft Market Size in Greece

The Greek transmission shaft market totaled $X in 2022, flattening at 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, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +8.4% 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 +30.2% against 2020 indices. Transmission shaft consumption peaked in 2022 and is expected to retain growth in the near future.

Transmission Shaft Exports

Exports from Greece

After four years of growth, shipments abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain decreased by -1.3% to X tons in 2022. Over the period under review, exports, however, continue to indicate a modest expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 51%. As a result, the exports reached the peak of X tons, and then dropped slightly in the following year.

In value terms, transmission shaft exports skyrocketed to $X in 2022. Overall, exports, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2019 when exports increased by 65%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Italy (X tons), Nigeria (X tons) and Cyprus (X tons) were the main destinations of transmission shaft exports from Greece, together accounting for 46% of total exports. Bulgaria, Albania, South Africa, the UK, France, Poland, Marshall Islands, Malta, Norway and Turkey lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the biggest increases were recorded for Marshall Islands (with a CAGR of +397.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Cyprus ($X) and Bulgaria ($X) were the largest markets for transmission shaft exported from Greece worldwide, together comprising 54% of total exports. Nigeria, Norway, South Africa, Turkey, Poland, Albania, France, Malta, the UK and Marshall Islands lagged somewhat behind, together comprising a further 30%.

In terms of the main countries of destination, Norway, with a CAGR of +152.3%, recorded the highest growth rate of 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 average transmission shaft export price amounted to $X per ton, growing by 26% against the previous year. In general, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, transmission shaft export price decreased by -22.4% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 57%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Marshall Islands ($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 (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into Greece

In 2022, the amount of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain imported into Greece contracted to X tons, falling by -9.8% against 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +36.5% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 53%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, transmission shaft imports rose sharply to $X in 2022. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +8.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.8% against 2016 indices. The growth pace was the most rapid in 2013 with an increase of 24%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

China (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of transmission shaft imports to Greece, with a combined 76% share of total imports. Turkey, Belgium, Bulgaria and the Netherlands lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +21.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and China ($X) were the largest transmission shaft suppliers to Greece, with a combined 63% share of total imports. Belgium, Bulgaria, the Netherlands and Turkey lagged somewhat behind, together accounting for a further 14%.

Among the main suppliers, Bulgaria, with a CAGR of +17.7%, 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 transmission shaft import price stood at $X per ton in 2022, surging by 20% against the previous year. Over the last decade, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2020 when the average import price increased by 74% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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