Scandinavia: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in Scandinavia

The Scandinavia flywheels and pulleys market reached $X in 2021, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Flywheels And Pulleys Production in Scandinavia

In value terms, flywheels and pulleys production shrank to $X in 2021 estimated in export price. Overall, production continues to indicate a noticeable expansion. The pace of growth was the most pronounced in 2014 when the production volume increased by 75% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Flywheels And Pulleys Exports

Exports in Scandinavia

In 2021, shipments abroad of flywheels and pulleys increased by 40% to X tons for the first time since 2015, thus ending a five-year declining trend. In general, exports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 41%. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, flywheels and pulleys exports soared to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Sweden was the major exporting country with an export of about X tons, which reached 81% of total exports. Norway (X tons) held the second position in the ranking, followed by Finland (X tons). All these countries together took near 19% share of total exports.

Sweden experienced a relatively flat trend pattern with regard to volume of exports of flywheels and pulleys. At the same time, Finland (+8.5%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +8.5% from 2012-2021. By contrast, Norway (-19.9%) illustrated a downward trend over the same period. Sweden (+32 p.p.) and Finland (+5.1 p.p.) significantly strengthened its position in terms of the total exports, while Norway saw its share reduced by -37.1% from 2012 to 2021, respectively.

In value terms, Sweden ($X) remains the largest flywheels and pulleys supplier in Scandinavia, comprising 73% of total exports. The second position in the ranking was taken by Norway ($X), with a 16% share of total exports.

In Sweden, flywheels and pulleys exports increased at an average annual rate of +4.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Norway (-10.9% per year) and Finland (+12.1% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, shrinking by -5.4% against the previous year. Overall, the export price, however, recorded a resilient increase. The growth pace was the most rapid in 2020 when the export price increased by 39%. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+11.2%), while the other leaders experienced more modest paces of growth.

Flywheels And Pulleys Imports

Imports in Scandinavia

In 2021, purchases abroad of flywheels and pulleys was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 30% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, flywheels and pulleys imports skyrocketed to $X in 2021. In general, imports, however, saw a mild downturn. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Sweden was the main importer of flywheels and pulleys in Scandinavia, with the volume of imports reaching X tons, which was approx. 78% of total imports in 2021. It was distantly followed by Finland (X tons), making up an 18% share of total imports. Norway (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to flywheels and pulleys imports into Sweden stood at +1.5%. At the same time, Finland (+4.7%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +4.7% from 2012-2021. By contrast, Norway (-12.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Finland and Sweden increased by +5.1 and +4.2 percentage points, respectively.

In value terms, Sweden ($X) constitutes the largest market for imported flywheels and pulleys in Scandinavia, comprising 73% of total imports. The second position in the ranking was held by Finland ($X), with a 17% share of total imports.

In Sweden, flywheels and pulleys imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Finland (-0.3% per year) and Norway (-5.8% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, surging by 7.9% against the previous year. Over the period under review, the import price, however, saw a pronounced decrease. The most prominent rate of growth was recorded in 2013 an increase of 8.5% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: 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 2021, the most notable rate of growth in terms of prices was attained by Norway (+7.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform