Scandinavia: Market for Grinding, Sanding and Polishing Machines 2024

Market Size for Grinding, Sanding and Polishing Machines in Scandinavia

The Scandinavia market for grinding, sanding and polishing machines contracted slightly to $X in 2021, which is down by -4% against the previous year. Overall, consumption continues to indicate a deep setback. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Grinding, Sanding and Polishing Machines in Scandinavia

In value terms, grinding, sanding and polishing machine production totaled $X in 2021 estimated in export price. In general, production recorded a mild slump. The most prominent rate of growth was recorded in 2014 when the production volume increased by 968% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Exports of Grinding, Sanding and Polishing Machines

Exports in Scandinavia

In 2021, the amount of grinding, sanding and polishing machines exported in Scandinavia declined to X units, dropping by -11.1% on the year before. Overall, exports showed a pronounced slump. The growth pace was the most rapid in 2013 with an increase of 52%. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, grinding, sanding and polishing machine exports reached $X in 2021. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 54% against the previous year. The level of export peaked at $X in 2013; however, from 2014 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 amounted to 69% of total exports. It was distantly followed by Denmark (X units), constituting a 27% share of total exports. Finland (X units) took a minor share of total exports.

Exports from Sweden decreased at an average annual rate of -6.0% from 2012 to 2021. At the same time, Denmark (+8.7%) and Finland (+8.2%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +8.7% from 2012-2021. Denmark (+18 p.p.) and Finland (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Sweden saw its share reduced by -18.6% from 2012 to 2021, respectively.

In value terms, Denmark ($X) remains the largest grinding, sanding and polishing machine supplier in Scandinavia, comprising 72% of total exports. The second position in the ranking was taken by Finland ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Denmark amounted to +3.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (+26.0% per year) and Sweden (-14.1% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2021, jumping by 28% against the previous year. Export price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, grinding, sanding and polishing machine export price increased by +119.2% against 2015 indices. The pace of growth was the most pronounced in 2016 when the export price increased by 29% against the previous year. Over the period under review, the export prices reached the peak figure in 2021 and is expected to retain growth in years to come.

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 Finland ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+16.4%), while the other leaders experienced a decline in the export price figures.

Imports of Grinding, Sanding and Polishing Machines

Imports in Scandinavia

Grinding, sanding and polishing machine imports shrank markedly to X units in 2021, which is down by -22.1% compared with the year before. In general, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of 161% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, grinding, sanding and polishing machine imports dropped modestly to $X in 2021. The total import value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 21%. Over the period under review, imports reached the peak figure at $X in 2020, and then declined slightly in the following year.

Imports by Country

In 2021, Sweden (X units) was the largest importer of grinding, sanding and polishing machines, committing 56% of total imports. Norway (X units) held the second position in the ranking, distantly followed by Denmark (X units) and Finland (X units). All these countries together took approx. 43% share of total imports.

Imports into Sweden decreased at an average annual rate of -3.8% from 2012 to 2021. At the same time, Denmark (+21.6%) and Norway (+3.3%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +21.6% from 2012-2021. By contrast, Finland (-5.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Sweden, Norway, Denmark and Finland increased by +22, +16, +11 and +2.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Denmark ($X), Sweden ($X) and Norway ($X) were the countries with the highest levels of imports in 2021, together accounting for 83% of total imports.

Among the main importing countries, Denmark, with a CAGR of +15.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per unit in 2021, with an increase of 27% against the previous year. Over the period under review, the import price continues to indicate a prominent increase. The pace of growth was the most pronounced in 2017 when the import price increased by 197%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, 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 Finland (+6.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform