Scandinavia: Gear Cutting Machine Market 2025

Gear Cutting Machine Market Size in Scandinavia

In 2021, the Scandinavia gear cutting machine market decreased by -81.9% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption, however, showed resilient growth. As a result, consumption reached the peak level of $X, and then fell notably in the following year.

Gear Cutting Machine Production in Scandinavia

In value terms, gear cutting machine production dropped significantly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2016 when the production volume increased by 395% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Gear Cutting Machine Exports

Exports in Scandinavia

In 2021, exports of gear cutting, gear grinding or gear finishing machines in Scandinavia soared to X units, growing by 592% on the previous year's figure. In general, exports saw a resilient expansion. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, gear cutting machine exports dropped sharply to $X in 2021. Over the period under review, exports recorded a remarkable increase. The growth pace was the most rapid in 2013 with an increase of 1,125% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Sweden represented the major exporter of gear cutting, gear grinding or gear finishing machines in Scandinavia, with the volume of exports amounting to X units, which was approx. 73% of total exports in 2021. It was distantly followed by Denmark (X units), mixing up a 25% share of total exports.

Sweden was also the fastest-growing in terms of the gear cutting, gear grinding or gear finishing machines exports, with a CAGR of +14.3% from 2012 to 2021. At the same time, Denmark (+2.0%) displayed positive paces of growth. From 2012 to 2021, the share of Sweden increased by +24 percentage points.

In value terms, Denmark ($X) emerged as the largest gear cutting machine supplier in Scandinavia, comprising 66% of total exports. The second position in the ranking was taken by Sweden ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Denmark totaled +14.2%.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per unit, which is down by -91.6% against the previous year. Over the period under review, the export price recorded a perceptible decline. The growth pace was the most rapid in 2013 when the export price increased by 293%. Over the period under review, the export prices reached the maximum at $X per unit in 2020, and then shrank markedly in the following year.

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 Denmark ($X per unit), while Sweden stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+12.0%).

Gear Cutting Machine Imports

Imports in Scandinavia

For the sixth year in a row, Scandinavia recorded growth in supplies from abroad of gear cutting, gear grinding or gear finishing machines, which increased by 2.3% to X units in 2021. Overall, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 131%. The volume of import peaked in 2021 and is likely to see steady growth in the near future.

In value terms, gear cutting machine imports surged to $X in 2021. In general, imports, however, showed a slight shrinkage. The pace of growth was the most pronounced in 2017 when imports increased by 369% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Sweden prevails in imports structure, finishing at X units, which was near 88% of total imports in 2021. It was distantly followed by Denmark (X units), achieving a 4.7% share of total imports. Iceland (X units) and Finland (X units) followed a long way behind the leaders.

Imports into Sweden increased at an average annual rate of +33.5% from 2012 to 2021. At the same time, Denmark (+34.6%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +34.6% from 2012-2021. By contrast, Iceland (-9.9%) and Finland (-27.3%) illustrated a downward trend over the same period. Sweden (+75 p.p.) and Denmark (+4.1 p.p.) significantly strengthened its position in terms of the total imports, while Iceland and Finland saw its share reduced by -16.7% and -61.2% from 2012 to 2021, respectively.

In value terms, the largest gear cutting machine importing markets in Scandinavia were Sweden ($X), Finland ($X) and Denmark ($X), together accounting for 100% of total imports.

Finland, with a CAGR of +13.3%, 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 a decline in the imports figures.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per unit, jumping by 27% against the previous year. Overall, the import price, however, continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2017 when the import price increased by 270% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, 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 ($X per unit), while Iceland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+55.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform