European Country Analysis: Greece

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The Market for Construction Equipment and Agricultural Tractors in Greece (December 2015)

Off-Highway Research's Country Analyses are in-depth reviews of market activity for 12 equipment types in other smaller European countries, together with profiles of leading manufacturers and distributors.

Typical coverage includes:

Equipment Analyses Market Shares Market Size and Trends
  Domestic Production Forecasts
Distributor Profiles Ownership Financial Analysis
  Sales by Product Franchises
  Distribution Future Developments 

The aim of this report is to give a concise picture of the development of the Greek market for various types of construction equipment and agricultural tractors from 2010 to 2014, with forecasts to 2019. It is an update of the issue last published in April 2013.
It is based on field research conducted in September 2015. The sales data is based on interviews conducted with all leading suppliers.

Greece is now notorious for its debt crisis, and the story of the last five years is of a titanic drama of financial and political turmoil that has obviously affected the construction equipment and farm machinery businesses extremely severely. The market is traditionally overshadowed by large volumes of used construction equipment being employed. Estimates of its relevance vary from an inexact “ten old machines for every new one” to more precise estimates based on the logic of supply and the evidence of the sales network.

The official dealers sense it when they try to make sales of new plant, or else take orders for spare parts for machines imported from Western Europe but never sold as original equipment by the normal official distributors. Each product analysis therefore includes a description of the importance of the used construction equipment market as it is today, since one has to recognise that a four or five year old construction machine has been seen as a perfectly logical alternative to a new machine. It should be added that used equipment sales have collapsed in exactly the same manner as new.

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