Scandinavia: Market for Industrial, Laboratory or Bakery Ovens 2024

Market Size for Industrial, Laboratory or Bakery Ovens in Scandinavia

The Scandinavia market for industrial, laboratory or bakery ovens reduced to $X in 2022, shrinking by -7.9% against the previous year. In general, consumption, however, showed resilient growth. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Industrial, Laboratory or Bakery Ovens in Scandinavia

In value terms, industrial, laboratory or bakery oven production fell to $X in 2022 estimated in export price. Over the period under review, production showed a buoyant increase. The pace of growth appeared the most rapid in 2015 when the production volume increased by 107%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Industrial, Laboratory or Bakery Ovens

Exports in Scandinavia

In 2022, overseas shipments of industrial, laboratory or bakery ovens were finally on the rise to reach X units after two years of decline. Overall, exports saw a slight increase. The growth pace was the most rapid in 2018 when exports increased by 59%. Over the period under review, the exports attained the maximum at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, industrial, laboratory or bakery oven exports rose sharply to $X in 2022. Over the period under review, exports posted a resilient expansion. The pace of growth was the most pronounced in 2018 with an increase of 129% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Sweden (X units) was the major exporter of industrial, laboratory or bakery ovens, achieving 76% of total exports. Finland (X units) held the second position in the ranking, distantly followed by Norway (X units). All these countries together took approx. 24% share of total exports.

Sweden experienced a relatively flat trend pattern with regard to volume of exports of industrial, laboratory or bakery ovens. At the same time, Norway (+17.6%) and Finland (+4.0%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +17.6% from 2012-2022. While the share of Norway (+5.5 p.p.) and Finland (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sweden (-8.7 p.p.) displayed negative dynamics.

In value terms, Sweden ($X) remains the largest industrial, laboratory or bakery oven supplier in Scandinavia, comprising 92% of total exports. The second position in the ranking was held by Finland ($X), with a 5% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Sweden stood at +7.2%. In the other countries, the average annual rates were as follows: Finland (-3.3% per year) and Norway (+4.8% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per unit, dropping by -12% against the previous year. Export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 an increase of 44%. The level of export peaked at $X per unit in 2021, and then dropped in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+6.4%), while the other leaders experienced a decline in the export price figures.

Imports of Industrial, Laboratory or Bakery Ovens

Imports in Scandinavia

In 2022, purchases abroad of industrial, laboratory or bakery ovens decreased by -1.5% to X units, falling for the second year in a row after three years of growth. Overall, imports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2020 with an increase of 115%. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, industrial, laboratory or bakery oven imports shrank slightly to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.5% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of 57% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then reduced slightly in the following year.

Imports by Country

Sweden (X units) and Norway (X units) represented the key importers of industrial, laboratory or bakery ovens in 2022, amounting to approx. 49% and 40% of total imports, respectively. It was distantly followed by Finland (X units), making up a 10% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +14.7%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest industrial, laboratory or bakery oven importing markets in Scandinavia were Sweden ($X), Norway ($X) and Finland ($X).

Among the main importing countries, Sweden, with a CAGR of +11.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per unit, waning by -2% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 106% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Finland ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+5.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform