Scandinavia: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Scandinavia

In 2022, the Scandinavia cranks and crankshafts market increased by 3.2% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Cranks And Crankshafts Production in Scandinavia

In value terms, cranks and crankshafts production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, saw a strong increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 67% against the previous year. The level of production peaked in 2022 and is likely to continue growth in years to come.

Cranks And Crankshafts Exports

Exports in Scandinavia

In 2022, the amount of cranks and crankshafts exported in Scandinavia shrank markedly to X tons, which is down by -19.4% against 2021 figures. In general, exports recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2017 when exports increased by 44% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, cranks and crankshafts exports shrank significantly to $X in 2022. Over the period under review, exports continue to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 41%. 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 was the major exporting country with an export of about X tons, which finished at 85% of total exports. It was distantly followed by Finland (X tons), creating a 12% share of total exports. Norway (X tons) followed a long way behind the leaders.

Exports from Sweden decreased at an average annual rate of -3.3% from 2012 to 2022. Finland (-1.1%) and Norway (-13.7%) illustrated a downward trend over the same period. Finland (+2.7 p.p.) and Sweden (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Norway saw its share reduced by -4.9% from 2012 to 2022, respectively.

In value terms, Sweden ($X) remains the largest cranks and crankshafts supplier in Scandinavia, comprising 70% of total exports. The second position in the ranking was held by Finland ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Sweden totaled -1.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (-1.9% per year) and Norway (-10.7% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, rising by 4.4% against the previous year. Overall, the export price showed modest growth. The growth pace was the most rapid in 2013 an increase of 35% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 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 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 (+3.5%), while the other leaders experienced mixed trends in the export price figures.

Cranks And Crankshafts Imports

Imports in Scandinavia

In 2022, approx. X tons of cranks and crankshafts were imported in Scandinavia; standing approx. at the previous year's figure. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 24%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, cranks and crankshafts imports dropped modestly to $X in 2022. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 25% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Sweden (X tons) and Finland (X tons) prevails in imports structure, together creating 98% of total imports. Norway (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Finland (with a CAGR of +5.6%), while imports for the other leaders experienced a decline in the imports figures.

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

Among the main importing countries, Finland, with a CAGR of +3.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2020 when the import price increased by 11%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the 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 Norway (+4.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform