Scandinavia: Boring Machinery Market 2024

Boring Machinery Market Size in Scandinavia

The Scandinavia boring machinery market declined to $X in 2022, which is down by -5.6% against the previous year. Over the period under review, consumption continues to indicate a abrupt decline. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Boring Machinery Production in Scandinavia

In value terms, boring machinery production shrank to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 131% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Boring Machinery Exports

Exports in Scandinavia

Boring machinery exports contracted significantly to X units in 2022, which is down by -18.2% against 2021. Overall, exports recorded a deep downturn. The pace of growth appeared the most rapid in 2018 when exports increased by 243%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, boring machinery exports dropped significantly to $X in 2022. In general, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 100% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden represented the key exporter of boring or sinking machinery in Scandinavia, with the volume of exports amounting to X units, which was near 57% of total exports in 2022. Finland (X units) ranks second in terms of the total exports with a 23% share, followed by Norway (20%).

Exports from Sweden decreased at an average annual rate of -10.1% from 2012 to 2022. At the same time, Finland (+10.7%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +10.7% from 2012-2022. By contrast, Norway (-6.9%) illustrated a downward trend over the same period. Finland (+19 p.p.) significantly strengthened its position in terms of the total exports, while Sweden saw its share reduced by -19.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest boring machinery supplier in Scandinavia, comprising 78% of total exports. The second position in the ranking was taken by Finland ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Sweden amounted to -11.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (-4.4% per year) and Norway (-14.2% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per unit, with a decrease of -13.8% against the previous year. Over the period under review, the export price showed a perceptible slump. The pace of growth appeared the most rapid in 2013 an increase of 24% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sweden ($X per unit), while Norway ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (-1.9%), while the other leaders experienced a decline in the export price figures.

Boring Machinery Imports

Imports in Scandinavia

Boring machinery imports declined notably to X units in 2022, dropping by -25% compared with 2021 figures. Overall, imports recorded a slight descent. The most prominent rate of growth was recorded in 2018 when imports increased by 46% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, boring machinery imports contracted remarkably to $X in 2022. In general, imports showed a noticeable curtailment. The pace of growth appeared the most rapid in 2018 when imports increased by 79%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Norway represented the largest importing country with an import of around X units, which reached 54% of total imports. Sweden (X units) took a 28% share (based on physical terms) of total imports, which put it in second place, followed by Finland (18%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Norway (with a CAGR of +2.5%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Norway ($X) constitutes the largest market for imported boring or sinking machinery in Scandinavia, comprising 64% of total imports. The second position in the ranking was held by Sweden ($X), with a 27% share of total imports.

In Norway, boring machinery imports contracted by an average annual rate of -1.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Sweden (-5.5% per year) and Finland (-10.1% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per unit, which is down by -2.9% against the previous year. Over the period under review, the import price showed a pronounced slump. The pace of growth appeared the most rapid in 2017 an increase of 32%. The level of import peaked at $X per unit in 2018; however, from 2019 to 2022, 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 2022, the most notable rate of growth in terms of prices was attained by Sweden (-0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform