Scandinavia: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in Scandinavia

In 2022, after two years of growth, there was significant decline in the Scandinavia industrial sewing machine market, when its value decreased by -15.6% to $X. In general, consumption recorded a noticeable setback. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Industrial Sewing Machine Production in Scandinavia

In value terms, industrial sewing machine production contracted to $X in 2022 estimated in export price. Overall, production, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when the production volume increased by 9.4% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Industrial Sewing Machine Exports

Exports in Scandinavia

In 2022, after three years of growth, there was significant decline in shipments abroad of industrial sewing machines, when their volume decreased by -43.4% to X units. Over the period under review, exports showed a perceptible setback. The pace of growth was the most pronounced in 2016 when exports increased by 151% against the previous year. Over the period under review, the exports reached the maximum at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, industrial sewing machine exports shrank markedly to $X in 2022. In general, exports saw a mild decline. The most prominent rate of growth was recorded in 2014 when exports increased by 182% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then dropped notably in the following year.

Exports by Country

Sweden represented the key exporting country with an export of about X units, which finished at 79% of total exports. It was distantly followed by Norway (X units), committing an 18% share of total exports. Finland (X units) followed a long way behind the leaders.

Sweden was also the fastest-growing in terms of the industrial sewing machines exports, with a CAGR of -2.4% from 2012 to 2022. Norway (-4.1%) and Finland (-11.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sweden increased by +6.4 percentage points.

In value terms, Sweden ($X) remains the largest industrial sewing machine supplier in Scandinavia, comprising 84% of total exports. The second position in the ranking was held by Norway ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Norway (-0.9% per year) and Finland (-20.6% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2022, dropping by -33.7% against the previous year. Overall, the export price, however, enjoyed notable growth. The most prominent rate of growth was recorded in 2014 an increase of 131%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat 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 Sweden ($X per unit), while Finland ($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 (+3.3%), while the other leaders experienced mixed trends in the export price figures.

Industrial Sewing Machine Imports

Imports in Scandinavia

After three years of growth, purchases abroad of industrial sewing machines decreased by -27.3% to X units in 2022. Overall, imports, however, enjoyed a pronounced increase. The pace of growth appeared the most rapid in 2017 when imports increased by 44%. The volume of import peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, industrial sewing machine imports shrank markedly to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 26%. As a result, imports reached the peak of $X, and then declined remarkably in the following year.

Imports by Country

Sweden represented the largest importer of industrial sewing machines in Scandinavia, with the volume of imports amounting to X units, which was near 65% of total imports in 2022. Norway (X units) held the second position in the ranking, distantly followed by Finland (X units). All these countries together took approx. 35% share of total imports.

Sweden was also the fastest-growing in terms of the industrial sewing machines imports, with a CAGR of +8.6% from 2012 to 2022. Norway experienced a relatively flat trend pattern. Finland (-4.1%) illustrated a downward trend over the same period. Sweden (+24 p.p.) significantly strengthened its position in terms of the total imports, while Finland and Norway saw its share reduced by -11.3% and -12.8% from 2012 to 2022, respectively.

In value terms, the largest industrial sewing machine importing markets in Scandinavia were Norway ($X), Finland ($X) and Sweden ($X).

Sweden, with a CAGR of +0.4%, saw 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 mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per unit, surging by 14% against the previous year. Over the period under review, the import price, however, showed a perceptible shrinkage. The growth pace was the most rapid in 2018 when the import price increased by 119% against the previous year. 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 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 (+4.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform