Scandinavia: Market for Hand-Operated Drilling, Threading or Tapping Tools 2024

Market Size for Hand-Operated Drilling, Threading or Tapping Tools in Scandinavia

In 2022, the Scandinavia market for hand-operated drilling, threading or tapping tools decreased by -2.5% to $X, falling for the second year in a row after three years of growth. The total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.0% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Hand-Operated Drilling, Threading or Tapping Tools in Scandinavia

In value terms, production of hand-operated drilling, threading or tapping tools rose slightly to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 391% against the previous year. Over the period under review, production of reached the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Hand-Operated Drilling, Threading or Tapping Tools

Exports in Scandinavia

In 2022, exports of hand-operated drilling, threading or tapping tools in Scandinavia surged to X tons, jumping by 77% against 2021 figures. Overall, exports, however, continue to indicate a drastic downturn. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, exports of hand-operated drilling, threading or tapping tools soared to $X in 2022. Over the period under review, exports, however, showed a deep reduction. Over the period under review, the exports of reached the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Sweden (X tons) was the key exporter of hand-operated drilling, threading or tapping tools, making up 82% of total exports. Norway (X tons) held the second position in the ranking, distantly followed by Finland (X tons). All these countries together held approx. 18% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to hand-operated drilling, threading or tapping tool exports from Sweden stood at -11.9%. At the same time, Norway (+4.4%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +4.4% from 2012-2022. By contrast, Finland (-14.2%) illustrated a downward trend over the same period. While the share of Norway (+11 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Finland (-2 p.p.) and Sweden (-8.6 p.p.) displayed negative dynamics.

In value terms, Sweden ($X) remains the largest hand-operated drilling, threading or tapping tool supplier in Scandinavia, comprising 77% of total exports. The second position in the ranking was taken by Norway ($X), with an 18% share of total exports.

In Sweden, exports of hand-operated drilling, threading or tapping tools shrank by an average annual rate of -9.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Norway (+1.9% per year) and Finland (-9.0% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, approximately reflecting the previous year. Export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for hand-operated drilling, threading or tapping tools increased by +55.0% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the export price increased by 35% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2021, and then reduced modestly in the following year.

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

From 2012 to 2022, 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 export price figures.

Imports of Hand-Operated Drilling, Threading or Tapping Tools

Imports in Scandinavia

In 2022, purchases abroad of hand-operated drilling, threading or tapping tools increased by 3% to X tons, rising for the second year in a row after three years of decline. In general, imports, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 58% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of hand-operated drilling, threading or tapping tools expanded slightly to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 36% against the previous year. Over the period under review, imports of reached the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Sweden represented the major importer of hand-operated drilling, threading or tapping tools in Scandinavia, with the volume of imports amounting to X tons, which was approx. 58% of total imports in 2022. It was distantly followed by Finland (X tons) and Norway (X tons), together mixing up a 42% share of total imports.

Sweden was also the fastest-growing in terms of the hand-operated drilling, threading or tapping tools imports, with a CAGR of +2.3% from 2012 to 2022. Norway (-4.5%) and Finland (-7.1%) illustrated a downward trend over the same period. Sweden (+21 p.p.) significantly strengthened its position in terms of the total imports, while Norway and Finland saw its share reduced by -4.1% and -17.1% from 2012 to 2022, respectively.

In value terms, the largest hand-operated drilling, threading or tapping tool importing markets in Scandinavia were Sweden ($X), Finland ($X) and Norway ($X).

In terms of the main importing countries, Sweden, with a CAGR of +4.9%, saw the highest rates of growth with regard to 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 2022, increasing by 1.6% against the previous year. Import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for hand-operated drilling, threading or tapping tools increased by +76.6% against 2017 indices. The pace of growth appeared the most rapid in 2018 an increase of 44% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($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 (+4.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform