Scandinavia: Dairy Machinery Market 2024

Dairy Machinery Market Size in Scandinavia

In 2022, the Scandinavia dairy machinery market decreased by -12% to $X for the first time since 2017, thus ending a four-year rising trend. Over the period under review, consumption, however, saw a buoyant expansion. Over the period under review, the market attained the maximum level at $X in 2021, and then declined in the following year.

Dairy Machinery Production in Scandinavia

In value terms, dairy machinery production totaled $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 35% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Dairy Machinery Exports

Exports in Scandinavia

In 2022, shipments abroad of dairy machinery decreased by -10.9% to X units, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a mild reduction. The growth pace was the most rapid in 2013 with an increase of 31%. Over the period under review, the exports attained the peak figure at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, dairy machinery exports contracted dramatically to $X in 2022. Overall, exports saw a noticeable decrease. The growth pace was the most rapid in 2020 with an increase of 42%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden was the largest exporter of dairy machinery in Scandinavia, with the volume of exports finishing at X units, which was near 87% of total exports in 2022. It was distantly followed by Finland (X units), creating a 13% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to dairy machinery exports from Sweden stood at -2.3%. At the same time, Finland (+8.1%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +8.1% from 2012-2022. From 2012 to 2022, the share of Finland increased by +7.8 percentage points.

In value terms, Sweden ($X) remains the largest dairy machinery supplier in Scandinavia, comprising 75% of total exports. The second position in the ranking was held by Finland ($X), with a 25% share of total exports.

In Sweden, dairy machinery exports declined by an average annual rate of -5.8% over the period from 2012-2022.

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2022, which is down by -9.3% against the previous year. Overall, the export price recorded a pronounced slump. The growth pace was the most rapid in 2020 an increase of 26%. Over the period under review, the export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (-0.4%).

Dairy Machinery Imports

Imports in Scandinavia

In 2022, supplies from abroad of dairy machinery decreased by -40.7% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports saw a perceptible decrease. The most prominent rate of growth was recorded in 2014 when imports increased by 56%. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, dairy machinery imports reduced dramatically to $X in 2022. Overall, imports continue to indicate a noticeable contraction. The growth pace was the most rapid in 2018 with an increase of 60%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Norway was the major importer of dairy machinery in Scandinavia, with the volume of imports reaching X units, which was approx. 55% of total imports in 2022. Finland (X units) held a 25% share (based on physical terms) of total imports, which put it in second place, followed by Sweden (20%).

Norway experienced a relatively flat trend pattern with regard to volume of imports of dairy machinery. Sweden (-5.7%) and Finland (-6.0%) illustrated a downward trend over the same period. Norway (+14 p.p.) significantly strengthened its position in terms of the total imports, while Sweden and Finland saw its share reduced by -5.7% and -8.2% from 2012 to 2022, respectively.

In value terms, Norway ($X) constitutes the largest market for imported dairy machinery in Scandinavia, comprising 61% of total imports. The second position in the ranking was taken by Finland ($X), with a 22% share of total imports.

In Norway, dairy machinery imports expanded at an average annual rate of +2.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Finland (-4.8% per year) and Sweden (-10.2% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per unit, shrinking by -12.9% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the import price increased by 51%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+3.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform