Scandinavia: Shaft Coupling Market 2024

Shaft Coupling Market Size in Scandinavia

For the third year in a row, the Scandinavia shaft coupling market recorded decline in sales value, which decreased by -18.7% to $X in 2022. The total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -25.2% against 2017 indices. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Shaft Coupling Production in Scandinavia

In value terms, shaft coupling production soared to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt decline. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Shaft Coupling Exports

Exports in Scandinavia

In 2022, after two years of growth, there was significant decline in shipments abroad of clutches and shaft couplings, when their volume decreased by -6% to X tons. Over the period under review, exports recorded a perceptible contraction. The growth pace was the most rapid in 2017 when exports increased by 34% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, shaft coupling exports amounted to $X in 2022. Overall, exports saw a mild curtailment. The growth pace was the most rapid in 2021 when exports increased by 16%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden represented the major exporting country with an export of around X tons, which resulted at 84% of total exports. It was distantly followed by Finland (X tons), committing a 12% share of total exports. Norway (X tons) took a relatively small share of total exports.

Exports from Sweden decreased at an average annual rate of -1.7% from 2012 to 2022. At the same time, Finland (+1.6%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +1.6% from 2012-2022. By contrast, Norway (-13.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sweden and Finland increased by +5.2 and +4.1 percentage points, respectively.

In value terms, Sweden ($X) remains the largest shaft coupling supplier in Scandinavia, comprising 77% of total exports. The second position in the ranking was taken by Finland ($X), with a 15% share of total exports.

In Sweden, shaft coupling exports shrank by an average annual rate of -1.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (+6.4% per year) and Norway (-8.0% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, picking up by 14% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by 30%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+6.3%), while the other leaders experienced more modest paces of growth.

Shaft Coupling Imports

Imports in Scandinavia

In 2022, the amount of clutches and shaft couplings imported in Scandinavia declined notably to X tons, with a decrease of -20.8% against the previous year. Total imports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -22.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 35%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, shaft coupling imports reduced sharply to $X in 2022. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 41% against the previous year. The level of import peaked at $X in 2021, and then shrank significantly in the following year.

Imports by Country

In 2022, Sweden (X tons) represented the largest importer of clutches and shaft couplings, making up 60% of total imports. Finland (X tons) took a 28% share (based on physical terms) of total imports, which put it in second place, followed by Norway (13%).

Sweden was also the fastest-growing in terms of the clutches and shaft couplings imports, with a CAGR of +7.6% from 2012 to 2022. Norway (-2.6%) and Finland (-3.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sweden increased by +25 percentage points.

In value terms, Sweden ($X), Finland ($X) and Norway ($X) were the countries with the highest levels of imports in 2022.

Among the main importing countries, Sweden, with a CAGR of +4.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, picking up by 6.5% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 8.7% against the previous year. Over the period under review, import prices hit record highs 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 importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+2.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform