Scandinavia: Market for Gearboxes and Speed Changers 2025

Market Size for Gearboxes and Speed Changers in Scandinavia

In 2022, the Scandinavia gearboxes and speed changers market decreased by X% to $X for the first time since 2016, thus ending a five-year rising trend. Over the period under review, consumption, however, showed a strong increase. As a result, consumption reached the peak level of $X, leveling off in the following year.

Production of Gearboxes and Speed Changers in Scandinavia

In value terms, gearboxes and speed changers production reduced remarkably to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2018 with an increase of X%. The level of production peaked at $X in 2021, and then shrank remarkably in the following year.

Exports of Gearboxes and Speed Changers

Exports in Scandinavia

For the fifth year in a row, Scandinavia recorded decline in overseas shipments of gearboxes and speed changers, which decreased by X% to X tons in 2022. Overall, exports recorded a deep reduction. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, gearboxes and speed changers exports fell remarkably to $X in 2022. Over the period under review, exports recorded a noticeable downturn. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Finland (X tons) and Sweden (X tons) dominates exports structure, together creating X% of total exports. It was distantly followed by Norway (X tons), making up a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Sweden (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest gearboxes and speed changers supplying countries in Scandinavia were Sweden ($X), Finland ($X) and Norway ($X).

Sweden, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, jumping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2018 an increase of X%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the other leaders experienced more modest paces of growth.

Imports of Gearboxes and Speed Changers

Imports in Scandinavia

In 2022, after five years of growth, there was significant decline in supplies from abroad of gearboxes and speed changers, when their volume decreased by X% to X tons. Total imports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then shrank markedly in the following year.

In value terms, gearboxes and speed changers imports reduced to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

Sweden (X tons) and Finland (X tons) dominates imports structure, together committing X% of total imports. It was distantly followed by Norway (X tons), making up an X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Sweden ($X), Finland ($X) and Norway ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Finland, with a CAGR of X%, recorded the highest growth rate of 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 2022, the import price in Scandinavia amounted to $X per ton, picking up by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform