Scandinavia: Automotive Lighting Market 2024

Automotive Lighting Market Size in Scandinavia

The Scandinavia automotive lighting market soared to $X in 2021, growing by 30% against the previous year. The market value increased at an average annual rate of +1.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Automotive Lighting Production in Scandinavia

In value terms, automotive lighting production contracted slightly to $X in 2021 estimated in export price. In general, production, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of 23%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Automotive Lighting Exports

Exports in Scandinavia

In 2021, shipments abroad of automotive lighting was finally on the rise to reach X units after three years of decline. Over the period under review, exports recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, automotive lighting exports surged to $X in 2021. Total exports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +51.9% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from Sweden (X units) and Finland (X units), together recording 100% of total export.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +1.3%).

In value terms, Sweden ($X) and Finland ($X) appeared to be the countries with the highest levels of exports in 2021.

Sweden, with a CAGR of +6.9%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per unit, surging by 5.9% against the previous year. Export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, automotive lighting export price increased by +30.8% against 2015 indices. The most prominent rate of growth was recorded in 2015 an increase of 42%. The level of export peaked in 2021 and is likely to continue growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Sweden ($X per unit), while Finland totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+5.4%).

Automotive Lighting Imports

Imports in Scandinavia

In 2021, approx. X units of automotive lighting were imported in Scandinavia; growing by 31% against 2020. In general, imports saw resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 50%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, automotive lighting imports skyrocketed to $X in 2021. Overall, imports enjoyed a resilient increase. The growth pace was the most rapid in 2017 when imports increased by 33% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Sweden was the largest importing country with an import of around X units, which accounted for 71% of total imports. It was distantly followed by Finland (X units), committing a 26% share of total imports. Norway (X units) held a little share of total imports.

Imports into Sweden increased at an average annual rate of +9.0% from 2012 to 2021. At the same time, Finland (+21.1%) and Norway (+2.5%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +21.1% from 2012-2021. From 2012 to 2021, the share of Finland increased by +14 percentage points.

In value terms, Sweden ($X) constitutes the largest market for imported automotive lighting in Scandinavia, comprising 68% of total imports. The second position in the ranking was taken by Finland ($X), with a 21% share of total imports.

In Sweden, automotive lighting imports increased at an average annual rate of +6.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Finland (+16.1% per year) and Norway (+5.1% per year).

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per unit, with a decrease of -9.2% against the previous year. Overall, the import price showed a pronounced descent. The most prominent rate of growth was recorded in 2014 when the import price increased by 16%. Over the period under review, import prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: 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 2021, the most notable rate of growth in terms of prices was attained by Norway (+2.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform