Scandinavia: Market for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines 2024

Market Size for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Scandinavia

For the fourth consecutive year, the Scandinavia fuel or lubricating pump market recorded growth in sales value, which increased by 13% to $X in 2021. The total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +99.9% against 2017 indices. The level of consumption peaked in 2021 and is likely to continue growth in years to come.

Production of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Scandinavia

In value terms, fuel or lubricating pump production totaled $X in 2021 estimated in export price. In general, production, however, continues to indicate a deep contraction. The growth pace was the most rapid in 2014 when the production volume increased by 24% against the previous year. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Exports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Exports in Scandinavia

In 2021, overseas shipments of fuel, lubricating or cooling-medium pumps for internal combustion engines increased by 66% to X units, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, recorded a deep contraction. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, fuel or lubricating pump exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a abrupt setback. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Sweden represented the main exporting country with an export of about X units, which resulted at 62% of total exports. Norway (X units) held a 17% share (based on physical terms) of total exports, which put it in second place, followed by Denmark (16%). Finland (X units) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to fuel or lubricating pump exports from Sweden stood at +9.8%. At the same time, Denmark (+19.5%) and Finland (+7.7%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +19.5% from 2012-2021. By contrast, Norway (-22.6%) illustrated a downward trend over the same period. While the share of Sweden (+49 p.p.), Denmark (+15 p.p.) and Finland (+3.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Norway (-67 p.p.) displayed negative dynamics.

In value terms, the largest fuel or lubricating pump supplying countries in Scandinavia were Denmark ($X), Norway ($X) and Sweden ($X), together accounting for 93% of total exports.

In terms of the main exporting countries, Denmark, with a CAGR of +19.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2021, shrinking by -17.2% against the previous year. Export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fuel or lubricating pump export price decreased by -24.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the export price increased by 37%. Over the period under review, the export prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Denmark ($X per unit), while Sweden ($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 (+12.8%), while the other leaders experienced a decline in the export price figures.

Imports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Imports in Scandinavia

In 2021, the amount of fuel, lubricating or cooling-medium pumps for internal combustion engines imported in Scandinavia surged to X units, increasing by 22% against 2020. Overall, imports showed a buoyant increase. The pace of growth was the most pronounced in 2019 when imports increased by 61%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, fuel or lubricating pump imports rose notably to $X in 2021. The total import value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 17%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Sweden dominates imports structure, resulting at X units, which was approx. 82% of total imports in 2021. Denmark (X units) took an 8.3% share (based on physical terms) of total imports, which put it in second place, followed by Finland (8.1%).

Sweden was also the fastest-growing in terms of the fuel, lubricating or cooling-medium pumps for internal combustion engines imports, with a CAGR of +17.9% from 2012 to 2021. At the same time, Finland (+16.1%) and Denmark (+8.5%) displayed positive paces of growth. Sweden (+15 p.p.) significantly strengthened its position in terms of the total imports, while Denmark saw its share reduced by -6.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) constitutes the largest market for imported fuel, lubricating or cooling-medium pumps for internal combustion engines in Scandinavia, comprising 72% of total imports. The second position in the ranking was taken by Finland ($X), with a 13% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden stood at +2.7%. In the other countries, the average annual rates were as follows: Finland (+0.3% per year) and Denmark (+0.8% per year).

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per unit, declining by -13% against the previous year. In general, the import price saw a deep downturn. The most prominent rate of growth was recorded in 2017 an increase of 38%. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (-7.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform