Scandinavia: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Scandinavia

The Scandinavia grinding and sharpening machine market surged to $X in 2022, growing by 53% against the previous year. Over the period under review, consumption showed buoyant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Grinding And Sharpening Metal Finishing Machines in Scandinavia

In value terms, grinding and sharpening machine production expanded slightly to $X in 2022 estimated in export price. In general, production showed a prominent expansion. The growth pace was the most rapid in 2013 when the production volume increased by 205% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports in Scandinavia

In 2022, after three years of growth, there was significant decline in shipments abroad of grinding and sharpening metal finishing machines, when their volume decreased by -7.5% to X units. Over the period under review, exports, however, showed prominent growth. The growth pace was the most rapid in 2020 when exports increased by 27%. Over the period under review, the exports attained the maximum at X units in 2021, and then reduced in the following year.

In value terms, grinding and sharpening machine exports shrank to $X in 2022. In general, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 39%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden dominates exports structure, resulting at X units, which was near 98% of total exports in 2022. Finland (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to grinding and sharpening machine exports from Sweden stood at +8.9%. At the same time, Finland (+9.9%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +9.9% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest grinding and sharpening machine supplier in Scandinavia, comprising 96% of total exports. The second position in the ranking was taken by Finland ($X), with a 2.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden amounted to -7.8%.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per unit, reducing by -5.3% against the previous year. Overall, the export price recorded a deep downturn. The pace of growth appeared the most rapid in 2015 when the export price increased by 41%. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per unit), while Sweden stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (-15.3%).

Imports of Grinding And Sharpening Metal Finishing Machines

Imports in Scandinavia

In 2022, purchases abroad of grinding and sharpening metal finishing machines decreased by -26.1% to X units for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, recorded a perceptible increase. The pace of growth appeared the most rapid in 2021 with an increase of 50% against the previous year. As a result, imports attained the peak of X units, and then shrank significantly in the following year.

In value terms, grinding and sharpening machine imports shrank remarkably to $X in 2022. In general, imports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2021 with an increase of 49% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Sweden represented the key importer of grinding and sharpening metal finishing machines in Scandinavia, with the volume of imports finishing at X units, which was approx. 62% of total imports in 2022. Finland (X units) took a 23% share (based on physical terms) of total imports, which put it in second place, followed by Norway (15%).

From 2012 to 2022, average annual rates of growth with regard to grinding and sharpening machine imports into Sweden stood at +4.9%. At the same time, Norway (+5.5%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +5.5% from 2012-2022. Finland experienced a relatively flat trend pattern. Sweden (+8.4 p.p.) and Norway (+2.8 p.p.) significantly strengthened its position in terms of the total imports, while Finland saw its share reduced by -11.2% from 2012 to 2022, respectively.

In value terms, Norway ($X), Sweden ($X) and Finland ($X) appeared to be the countries with the highest levels of imports in 2022.

Norway, with a CAGR of +5.1%, 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

The import price in Scandinavia stood at $X per unit in 2022, leveling off at the previous year. Overall, the import price faced a deep contraction. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, 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 ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform