Scandinavia: Market for Industrial Sewing Machines (Non-Automatic) 2024

Market Size for Industrial Sewing Machines (Non-Automatic) in Scandinavia

In 2022, after four years of growth, there was significant decline in the Scandinavia industrial sewing machines (non-automatic) market, when its value decreased by -24.8% to $X. The total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2021, and then dropped remarkably in the following year.

Production of Industrial Sewing Machines (Non-Automatic) in Scandinavia

In value terms, industrial sewing machines (non-automatic) production reduced modestly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 29%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Exports of Industrial Sewing Machines (Non-Automatic)

Exports in Scandinavia

After two years of growth, overseas shipments of industrial sewing machines (non-automatic) decreased by -35% to X units in 2022. In general, exports showed a noticeable descent. The most prominent rate of growth was recorded in 2016 with an increase of 257%. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, industrial sewing machines (non-automatic) exports fell notably to $X in 2022. Overall, exports recorded a deep downturn. The growth pace was the most rapid in 2014 with an increase of 486%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Sweden represented the key exporter of industrial sewing machines (non-automatic) in Scandinavia, with the volume of exports accounting for X units, which was approx. 82% of total exports in 2022. It was distantly followed by Norway (X units), comprising a 14% share of total exports. Finland (X units) took a minor share of total exports.

Sweden was also the fastest-growing in terms of the industrial sewing machines (non-automatic) exports, with a CAGR of -2.1% from 2012 to 2022. Norway (-3.4%) and Finland (-6.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sweden increased by +3.1 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest industrial sewing machines (non-automatic) supplier in Scandinavia, comprising 63% of total exports. The second position in the ranking was held by Norway ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden totaled -12.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Norway (-14.0% per year) and Finland (-15.6% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2022, with a decrease of -47.9% against the previous year. Over the period under review, the export price faced a abrupt decrease. The pace of growth appeared the most rapid in 2014 an increase of 320% against the previous year. The level of export peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: 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 2022, the most notable rate of growth in terms of prices was attained by Finland (-9.9%), while the other leaders experienced a decline in the export price figures.

Imports of Industrial Sewing Machines (Non-Automatic)

Imports in Scandinavia

In 2022, supplies from abroad of industrial sewing machines (non-automatic) decreased by -29.7% to X units for the first time since 2017, thus ending a four-year rising trend. Overall, imports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 163%. The volume of import peaked at X units in 2021, and then fell notably in the following year.

In value terms, industrial sewing machines (non-automatic) imports reduced rapidly to $X in 2022. Total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 when imports increased by 33% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

Sweden represented the main importing country with an import of about X units, which amounted to 73% of total imports. Norway (X units) took a 19% share (based on physical terms) of total imports, which put it in second place, followed by Finland (7.7%).

Sweden was also the fastest-growing in terms of the industrial sewing machines (non-automatic) imports, with a CAGR of +9.1% from 2012 to 2022. At the same time, Norway (+5.9%) displayed positive paces of growth. By contrast, Finland (-5.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sweden increased by +17 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In terms of the main importing countries, Norway, with a CAGR of +3.8%, recorded the highest rates of growth with regard to 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

In 2022, the import price in Scandinavia amounted to $X per unit, jumping by 16% against the previous year. Over the period under review, the import price, however, recorded a noticeable curtailment. The pace of growth was the most pronounced in 2015 an increase of 37% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+4.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform