Scandinavia: Lifting Equipment Market 2024

Lifting Equipment Market Size in Scandinavia

The Scandinavia lifting equipment market soared to $X in 2021, rising by 90% against the previous year. Overall, consumption enjoyed a notable increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Lifting Equipment Production in Scandinavia

In value terms, lifting equipment production expanded significantly to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 161% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Lifting Equipment Exports

Exports in Scandinavia

In 2021, exports of lifting equipment in Scandinavia dropped significantly to X units, waning by -44.2% compared with the previous year. In general, exports, however, recorded a mild expansion. The pace of growth appeared the most rapid in 2019 with an increase of 72%. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, lifting equipment exports fell dramatically to $X in 2021. Over the period under review, exports showed a slight decrease. The most prominent rate of growth was recorded in 2020 with an increase of 47%. As a result, the exports reached the peak of $X, and then declined rapidly in the following year.

Exports by Country

Sweden (X units), Norway (X units) and Denmark (X units) represented roughly 95% of total exports in 2021. It was distantly followed by Finland (X units), constituting a 5.2% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +4.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Norway ($X), Sweden ($X) and Denmark ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 99% of total exports.

In terms of the main exporting countries, Norway, with a CAGR of +0.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per unit, surging by 5.2% against the previous year. Overall, the export price, however, continues to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2020 an increase of 55%. Over the period under review, the export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+2.8%), while the other leaders experienced a decline in the export price figures.

Lifting Equipment Imports

Imports in Scandinavia

In 2021, supplies from abroad of lifting equipment was finally on the rise to reach X units after three years of decline. Overall, imports showed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lifting equipment imports skyrocketed to $X in 2021. Over the period under review, imports posted buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Sweden represented the main importing country with an import of about X units, which recorded 73% of total imports. It was distantly followed by Norway (X units), making up a 22% share of total imports. Denmark (X units) and Finland (X units) followed a long way behind the leaders.

Sweden was also the fastest-growing in terms of the lifting equipment imports, with a CAGR of +29.1% from 2012 to 2021. Norway experienced a relatively flat trend pattern. Finland (-3.3%) and Denmark (-17.4%) illustrated a downward trend over the same period. Sweden (+58 p.p.) significantly strengthened its position in terms of the total imports, while Finland, Denmark and Norway saw its share reduced by -4%, -26.8% and -27.4% from 2012 to 2021, respectively.

In value terms, the largest lifting equipment importing markets in Scandinavia were Sweden ($X), Norway ($X) and Denmark ($X), together accounting for 98% of total imports.

Among the main importing countries, Sweden, with a CAGR of +26.9%, 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 2021, the import price in Scandinavia amounted to $X per unit, waning by -34.4% against the previous year. Import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lifting equipment import price increased by +6.3% against 2019 indices. The pace of growth was the most pronounced in 2014 an increase of 80%. Over the period under review, import prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, 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 Norway ($X per unit), while Finland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+3.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform