Denmark: Suspension System Market 2024

Suspension System Market Size in Denmark

After two years of growth, the Danish suspension system market decreased by -11.9% to $X in 2022. In general, consumption saw prominent growth. Over the period under review, the market reached the peak level at $X in 2021, and then dropped in the following year.

Suspension System Production in Denmark

In value terms, suspension system production fell slightly to $X in 2022 estimated in export price. Overall, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.0% against 2020 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 106% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Suspension System Exports

Exports from Denmark

In 2022, exports of suspension systems from Denmark soared to X tons, picking up by 37% against the previous year. In general, exports recorded a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of 280%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, suspension system exports surged to $X in 2022. Overall, exports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2016 when exports increased by 187% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons) was the main destination for suspension system exports from Denmark, with a 22% share of total exports. Moreover, suspension system exports to Germany exceeded the volume sent to the second major destination, Russia (X tons), twofold. The third position in this ranking was taken by Norway (X tons), with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+9.8% per year) and Norway (+5.7% per year).

In value terms, Germany ($X) remains the key foreign market for suspension systems exports from Denmark, comprising 19% of total exports. The second position in the ranking was taken by Norway ($X), with an 8.8% share of total exports. It was followed by Russia, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+5.1% per year) and Russia (+13.9% per year).

Export Prices by Country

The average suspension system export price stood at $X per ton in 2022, falling by -2.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2018 when the average export price increased by 22%. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Hungary ($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 (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Suspension System Imports

Imports into Denmark

For the third year in a row, Denmark recorded growth in purchases abroad of suspension systems, which increased by 9% to X tons in 2022. Overall, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 39%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, suspension system imports contracted to $X in 2022. Over the period under review, imports saw a tangible increase. The most prominent rate of growth was recorded in 2021 with an increase of 61%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

China (X tons), Germany (X tons) and Turkey (X tons) were the main suppliers of suspension system imports to Denmark, together accounting for 73% of total imports. Belgium, the UK, Poland, Italy and Sweden lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +69.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and the UK ($X) were the largest suspension system suppliers to Denmark, with a combined 58% share of total imports. Belgium, Turkey, Poland, Sweden and Italy lagged somewhat behind, together comprising a further 30%.

In terms of the main suppliers, Poland, with a CAGR of +75.6%, saw the highest growth rate of 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 average suspension system import price amounted to $X per ton, with a decrease of -14.4% against the previous year. Over the period under review, the import price continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2021 an increase of 17%. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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