Scandinavia: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Scandinavia

The Scandinavia market for vacuum pumps and air or gas compressors dropped to $X in 2022, waning by -10.4% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Vacuum Pumps and Air or Gas Compressors in Scandinavia

In value terms, production of vacuum pumps and air or gas compressors contracted to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 45%. As a result, production attained the peak level of $X. From 2020 to 2022, production of growth failed to regain momentum.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports in Scandinavia

In 2022, exports of vacuum pumps and air or gas compressors in Scandinavia shrank to X units, with a decrease of -7.5% compared with 2021 figures. Overall, exports saw a slight slump. The most prominent rate of growth was recorded in 2021 with an increase of 11%. Over the period under review, the exports of hit record highs at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, exports of vacuum pumps and air or gas compressors contracted to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden dominates compressors structure, amounting to X units, which was near 89% of total exports in 2022. It was distantly followed by Finland (X units), comprising an 8.1% share of total exports. Norway (X units) followed a long way behind the leaders.

Exports from Sweden decreased at an average annual rate of -2.1% from 2012 to 2022. At the same time, Finland (+2.2%) and Norway (+1.9%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +2.2% from 2012-2022. Finland (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while Sweden saw its share reduced by -3.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest vacuum pump and air or gas compressor supplying countries in Scandinavia were Sweden ($X), Finland ($X) and Norway ($X).

Among the main exporting countries, Finland, with a CAGR of +6.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2022, with an increase of 7.4% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2017 an increase of 15% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+4.2%), while the other leaders experienced mixed trends in the export price figures.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports in Scandinavia

In 2022, approx. X units of vacuum pumps and air or gas compressors were imported in Scandinavia; reducing by -12.9% on the previous year. In general, imports saw a noticeable descent. The most prominent rate of growth was recorded in 2021 when imports increased by 19% against the previous year. Over the period under review, imports of reached the maximum at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, imports of vacuum pumps and air or gas compressors declined to $X in 2022. Over the period under review, imports, however, saw a modest increase. The growth pace was the most rapid in 2017 with an increase of 13%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Sweden was the major importing country with an import of about X units, which finished at 68% of total imports. Finland (X units) held a 23% share (based on physical terms) of total imports, which put it in second place, followed by Norway (9.6%).

From 2012 to 2022, average annual rates of growth with regard to vacuum pump and air or gas compressor imports into Sweden stood at -1.6%. At the same time, Norway (+1.1%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +1.1% from 2012-2022. By contrast, Finland (-4.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sweden and Norway increased by +3.3 and +2.6 percentage points, respectively.

In value terms, Sweden ($X) constitutes the largest market for imported vacuum pumps and air or gas compressors in Scandinavia, comprising 65% of total imports. The second position in the ranking was held by Finland ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Finland (+1.6% per year) and Norway (+0.4% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per unit, picking up by 4.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. The growth pace was the most rapid in 2014 an increase of 19%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per unit), while Finland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+6.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform