Scandinavia: Rock Cutter Market 2024

Rock Cutter Market Size in Scandinavia

In 2022, after two years of growth, there was significant decline in the Scandinavia rock cutter market, when its value decreased by -59% to $X. Over the period under review, consumption, however, saw a significant expansion. As a result, consumption reached the peak level of $X, and then declined sharply in the following year.

Rock Cutter Production in Scandinavia

In value terms, rock cutter production dropped sharply to $X in 2022 estimated in export price. Overall, production, however, posted a strong expansion. The pace of growth was the most pronounced in 2021 when the production volume increased by 548% against the previous year. As a result, production attained the peak level of $X, and then dropped significantly in the following year.

Rock Cutter Exports

Exports in Scandinavia

Rock cutter exports declined remarkably to X units in 2022, falling by -50.3% on 2021 figures. In general, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 3,166% against the previous year. As a result, the exports attained the peak of X units, and then contracted rapidly in the following year.

In value terms, rock cutter exports skyrocketed to $X in 2022. Over the period under review, exports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 611% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Sweden prevails in exports structure, accounting for X units, which was near 93% of total exports in 2022. It was distantly followed by Norway (X units), mixing up a 5.2% share of total exports. Finland (X units) held a relatively small share of total exports.

Sweden was also the fastest-growing in terms of the coal or rock cutters and tunnelling machinery exports, with a CAGR of +51.7% from 2012 to 2022. Norway experienced a relatively flat trend pattern. Finland (-12.2%) illustrated a downward trend over the same period. Sweden (+82 p.p.) significantly strengthened its position in terms of the total exports, while Norway and Finland saw its share reduced by -31.2% and -51.3% from 2012 to 2022, respectively.

In value terms, Sweden ($X) remains the largest rock cutter supplier in Scandinavia, comprising 93% of total exports. The second position in the ranking was held by Finland ($X), with a 5.9% share of total exports.

In Sweden, rock cutter exports expanded at an average annual rate of +57.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (+5.8% per year) and Norway (-14.0% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2022, growing by 201% against the previous year. In general, the export price recorded a perceptible expansion. The most prominent rate of growth was recorded in 2018 when the export price increased by 572% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the export prices remained at a lower figure.

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 Finland ($X per unit), while Norway ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+20.6%), while the other leaders experienced mixed trends in the export price figures.

Rock Cutter Imports

Imports in Scandinavia

In 2022, rock cutter imports in Scandinavia soared to X units, jumping by 463% on 2021. In general, imports posted a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, rock cutter imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Norway prevails in imports structure, accounting for X units, which was near 92% of total imports in 2022. The following importers - Sweden (X units) and Finland (X units) - each resulted at an 8.1% share of total imports.

Norway was also the fastest-growing in terms of the coal or rock cutters and tunnelling machinery imports, with a CAGR of +38.4% from 2012 to 2022. Sweden (-5.0%) and Finland (-9.4%) illustrated a downward trend over the same period. While the share of Norway (+75 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Sweden (-28.7 p.p.) and Finland (-46.2 p.p.) displayed negative dynamics.

In value terms, Norway ($X) constitutes the largest market for imported coal or rock cutters and tunnelling machinery in Scandinavia, comprising 94% of total imports. The second position in the ranking was held by Sweden ($X), with a 3.4% share of total imports.

In Norway, rock cutter imports expanded at an average annual rate of +33.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Sweden (-11.3% per year) and Finland (-2.5% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per unit, reducing by -17.1% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 31% against the previous year. As a result, import price reached the peak level of $X per unit, and then reduced notably in the following year.

Average prices varied somewhat 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 (+7.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform