Scandinavia: Crawler Tractor Market 2024

Crawler Tractor Market Size in Scandinavia

In 2021, after five years of decline, there was growth in the Scandinavia crawler tractor market, when its value increased by 4.3% to $X. In general, consumption showed a pronounced setback. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Crawler Tractor Production in Scandinavia

In value terms, crawler tractor production shrank to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2015 when the production volume increased by 40% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Crawler Tractor Exports

Exports in Scandinavia

In 2021, after two years of decline, there was significant growth in overseas shipments of crawler tractors, when their volume increased by 39% to X units. In general, exports, however, recorded a abrupt decline. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, crawler tractor exports soared to $X in 2021. Total exports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +66.2% against 2019 indices. The growth pace was the most rapid in 2018 when exports increased by 34% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in the near future.

Exports by Country

In 2021, Sweden (X units) represented the major exporter of crawler tractors, committing 65% of total exports. Finland (X units) held a 26% share (based on physical terms) of total exports, which put it in second place, followed by Norway (9.6%).

Exports from Sweden decreased at an average annual rate of -9.8% from 2012 to 2021. At the same time, Finland (+8.8%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +8.8% from 2012-2021. By contrast, Norway (-6.0%) 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 -20.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest crawler tractor supplier in Scandinavia, comprising 67% of total exports. The second position in the ranking was taken by Finland ($X), with a 28% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Sweden totaled +2.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (+17.3% per year) and Norway (-12.7% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2021, falling by -8.8% against the previous year. In general, the export price, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2020 when the export price increased by 55% against the previous year. As a result, the export price attained the peak level of $X per unit, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Sweden (+13.9%), while the other leaders experienced mixed trends in the export price figures.

Crawler Tractor Imports

Imports in Scandinavia

In 2021, the amount of crawler tractors imported in Scandinavia skyrocketed to X units, increasing by 23% against 2020. Total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -9.3% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 61% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, crawler tractor imports skyrocketed to $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 57% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

Norway represented the major importing country with an import of around X units, which reached 48% of total imports. Sweden (X units) ranks second in terms of the total imports with a 32% share, followed by Finland (20%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Finland (with a CAGR of +20.9%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Norway ($X) constitutes the largest market for imported crawler tractors in Scandinavia, comprising 54% of total imports. The second position in the ranking was held by Sweden ($X), with a 26% share of total imports.

In Norway, crawler tractor imports increased at an average annual rate of +3.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Sweden (+7.5% per year) and Finland (+39.3% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per unit in 2021, picking up by 8.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.4%. The pace of growth appeared the most rapid in 2015 when the import price increased by 14% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Norway ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+16.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform