Scandinavia: Electric Heating Resistor Market 2024

Electric Heating Resistor Market Size in Scandinavia

The Scandinavia electric heating resistor market soared to $X in 2021, jumping by 38% against the previous year. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +75.8% against 2015 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Electric Heating Resistor Production in Scandinavia

In value terms, electric heating resistor production surged to $X in 2021 estimated in export price. The total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 42% against the previous year. Over the period under review, production attained the maximum level in 2021 and is expected to retain growth in the near future.

Electric Heating Resistor Exports

Exports in Scandinavia

In 2021, shipments abroad of electric heating resistors increased by 29% to X units for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, electric heating resistor exports surged to $X in 2021. The total export value increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden represented the major exporter of electric heating resistors in Scandinavia, with the volume of exports finishing at X units, which was approx. 54% of total exports in 2021. Denmark (X units) took the second position in the ranking, distantly followed by Finland (X units). All these countries together took near 43% share of total exports. Norway (X units) took a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +6.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest electric heating resistor supplying countries in Scandinavia were Sweden ($X), Denmark ($X) and Finland ($X), together accounting for 94% of total exports. These countries were followed by Norway, which accounted for a further 6.1%.

Norway, with a CAGR of +17.3%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2021, flattening at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2013 an increase of 17% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+10.4%), while the other leaders experienced more modest paces of growth.

Electric Heating Resistor Imports

Imports in Scandinavia

In 2021, imports of electric heating resistors in Scandinavia stood at X units, with an increase of 9.5% against the previous year. The total import volume increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when imports increased by 11% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, electric heating resistor imports surged to $X in 2021. The total import value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Denmark was the major importing country with an import of around X units, which finished at 48% of total imports. Sweden (X units) took the second position in the ranking, followed by Norway (X units) and Finland (X units). All these countries together held near 52% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to electric heating resistor imports into Denmark stood at +3.6%. At the same time, Sweden (+3.9%), Norway (+3.4%) and Finland (+1.5%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +3.9% from 2012-2021. While the share of Finland (-2.5 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X), Denmark ($X) and Norway ($X) were the countries with the highest levels of imports in 2021, with a combined 80% share of total imports.

Sweden, with a CAGR of +8.1%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per unit, increasing by 9.1% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sweden ($X per unit), while Denmark ($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 (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform