Scandinavia: Market for Furnace Burners For Liquid Fuel 2024

Market Size for Furnace Burners For Liquid Fuel in Scandinavia

In 2021, after two years of growth, there was significant decline in the Scandinavia liquid fuel furnace burner market, when its value decreased by -12.3% to $X. Overall, consumption continues to indicate a slight curtailment. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Production of Furnace Burners For Liquid Fuel in Scandinavia

In value terms, liquid fuel furnace burner production reduced to $X in 2021 estimated in export price. Over the period under review, production saw a deep contraction. The growth pace was the most rapid in 2020 when the production volume increased by 60%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Furnace Burners For Liquid Fuel

Exports in Scandinavia

In 2021, shipments abroad of furnace burners for liquid fuel decreased by -12.4% to X tons, falling for the third year in a row after two years of growth. In general, exports showed a pronounced downturn. The pace of growth was the most pronounced in 2018 with an increase of 60%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, liquid fuel furnace burner exports reduced to $X in 2021. Overall, exports continue to indicate a perceptible curtailment. The growth pace was the most rapid in 2018 when exports increased by 61%. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Sweden was the largest exporting country with an export of around X tons, which resulted at 55% of total exports. Finland (X tons) held a 26% share (based on physical terms) of total exports, which put it in second place, followed by Norway (12%) and Denmark (7.7%).

From 2012 to 2021, average annual rates of growth with regard to liquid fuel furnace burner exports from Sweden stood at -4.1%. At the same time, Norway (+22.7%) and Denmark (+4.9%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +22.7% from 2012-2021. By contrast, Finland (-2.8%) illustrated a downward trend over the same period. While the share of Norway (+10 p.p.) and Denmark (+3.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Finland (-1.9 p.p.) and Sweden (-11.6 p.p.) displayed negative dynamics.

In value terms, Sweden ($X), Finland ($X) and Denmark ($X) were the countries with the highest levels of exports in 2021, together accounting for 95% of total exports. These countries were followed by Norway, which accounted for a further 5.3%.

Among the main exporting countries, Norway, with a CAGR of +14.6%, 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 mixed trends in the exports figures.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, approximately reflecting the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the export price increased by 25%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Finland ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+1.7%), while the other leaders experienced a decline in the export price figures.

Imports of Furnace Burners For Liquid Fuel

Imports in Scandinavia

In 2021, overseas purchases of furnace burners for liquid fuel decreased by -6.7% to X tons for the first time since 2016, thus ending a four-year rising trend. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +67.7% against 2016 indices. The pace of growth was the most pronounced in 2013 when imports increased by 32% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then reduced in the following year.

In value terms, liquid fuel furnace burner imports shrank sharply to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 18% against the previous year. As a result, imports reached the peak of $X, and then contracted remarkably in the following year.

Imports by Country

Denmark was the key importing country with an import of around X tons, which recorded 63% of total imports. Norway (X tons) ranks second in terms of the total imports with a 14% share, followed by Sweden (13%) and Finland (9.2%).

Denmark was also the fastest-growing in terms of the furnace burners for liquid fuel imports, with a CAGR of +10.8% from 2012 to 2021. At the same time, Norway (+1.1%) displayed positive paces of growth. Finland experienced a relatively flat trend pattern. By contrast, Sweden (-2.6%) illustrated a downward trend over the same period. While the share of Denmark (+24 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Finland (-5.4 p.p.), Norway (-5.6 p.p.) and Sweden (-13.2 p.p.) displayed negative dynamics.

In value terms, the largest liquid fuel furnace burner importing markets in Scandinavia were Denmark ($X), Norway ($X) and Sweden ($X), together accounting for 89% of total imports.

Among the main importing countries, Norway, with a CAGR of +5.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, which is down by -8.9% against the previous year. Over the period under review, the import price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2014 an increase of 15% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Norway ($X per ton), while Denmark ($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 (+4.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform