Scandinavia: Interchangeable Tool Market 2025

Interchangeable Tool Market Size in Scandinavia

The Scandinavia interchangeable tool market contracted rapidly to $X in 2021, reducing by -20.6% against the previous year. Overall, consumption recorded a pronounced shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Interchangeable Tool Production in Scandinavia

In value terms, interchangeable tool production dropped to $X in 2021 estimated in export price. In general, production continues to indicate a mild reduction. The growth pace was the most rapid in 2020 with an increase of 30% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Interchangeable Tool Exports

Exports in Scandinavia

In 2021, the amount of interchangeable tools for hand tools exported in Scandinavia soared to X tons, jumping by 17% compared with 2020 figures. The total export volume increased at an average annual rate of +5.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 37%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, interchangeable tool exports soared to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Sweden represented the major exporter of interchangeable tools for hand tools in Scandinavia, with the volume of exports amounting to X tons, which was near 59% of total exports in 2021. It was distantly followed by Finland (X tons), Norway (X tons) and Denmark (X tons), together constituting a 41% share of total exports.

Exports from Sweden increased at an average annual rate of +3.3% from 2012 to 2021. At the same time, Finland (+14.2%), Norway (+6.3%) and Denmark (+2.0%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +14.2% from 2012-2021. From 2012 to 2021, the share of Finland increased by +12 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest interchangeable tool supplier in Scandinavia, comprising 61% of total exports. The second position in the ranking was held by Finland ($X), with a 15% share of total exports. It was followed by Denmark, with a 14% share.

In Sweden, interchangeable tool exports contracted by an average annual rate of -2.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Finland (+6.5% per year) and Denmark (+2.9% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, rising by 2.5% against the previous year. Over the period under review, the export price, however, saw a drastic downturn. The growth pace was the most rapid in 2018 when the export price increased by 11% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Denmark ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+0.9%), while the other leaders experienced a decline in the export price figures.

Interchangeable Tool Imports

Imports in Scandinavia

In 2021, supplies from abroad of interchangeable tools for hand tools increased by 19% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.5% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, interchangeable tool imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Sweden was the major importing country with an import of around X tons, which reached 42% of total imports. It was distantly followed by Norway (X tons), Denmark (X tons) and Finland (X tons), together committing a 57% share of total imports.

Imports into Sweden increased at an average annual rate of +3.3% from 2012 to 2021. At the same time, Finland (+4.8%), Denmark (+4.4%) and Norway (+2.1%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +4.8% from 2012-2021. While the share of Finland (+1.9 p.p.) and Denmark (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Norway (-2.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

Denmark, with a CAGR of +3.5%, 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 more modest paces of growth.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, remaining constant against the previous year. Overall, the import price showed a perceptible slump. The most prominent rate of growth was recorded in 2018 an increase of 14%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Denmark ($X per ton) and Norway ($X per ton), while Sweden ($X per ton) and Finland ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (-0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform