Scandinavia: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Scandinavia

In 2022, the Scandinavia machine-tool for drilling market increased by 8.6% to $X, rising for the second consecutive year after two years of decline. In general, consumption recorded a noticeable expansion. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Machine-Tool For Drilling Production in Scandinavia

In value terms, machine-tool for drilling production reduced sharply to $X in 2022 estimated in export price. Over the period under review, production saw a deep downturn. The pace of growth was the most pronounced in 2015 when the production volume increased by 152% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Machine-Tool For Drilling Exports

Exports in Scandinavia

Machine-tool for drilling exports rose markedly to X units in 2022, increasing by 14% against 2021. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 47%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, machine-tool for drilling exports dropped dramatically to $X in 2022. Over the period under review, exports, however, showed a noticeable contraction. The growth pace was the most rapid in 2018 with an increase of 26% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Sweden (X units) was the largest exporter of machine-tools for drilling, boring or milling metal, comprising 85% of total exports. It was distantly followed by Finland (X units), making up an 11% share of total exports. Norway (X units) followed a long way behind the leaders.

Sweden experienced a relatively flat trend pattern with regard to volume of exports of machine-tools for drilling, boring or milling metal. At the same time, Norway (+5.9%) and Finland (+4.7%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +5.9% from 2012-2022. Finland (+3.4 p.p.) and Norway (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Sweden saw its share reduced by -5.2% from 2012 to 2022, respectively.

In value terms, Finland ($X), Sweden ($X) and Norway ($X) constituted the countries with the highest levels of exports in 2022.

Norway, with a CAGR of +2.1%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per unit, with a decrease of -39.4% against the previous year. In general, the export price recorded a drastic downturn. The most prominent rate of growth was recorded in 2018 when the export price increased by 48%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the export prices remained at a 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 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 Norway (-3.6%), while the other leaders experienced a decline in the export price figures.

Machine-Tool For Drilling Imports

Imports in Scandinavia

In 2022, purchases abroad of machine-tools for drilling, boring or milling metal increased by 21% to X units, rising for the second year in a row after two years of decline. In general, imports posted mild growth. The most prominent rate of growth was recorded in 2015 with an increase of 404%. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, machine-tool for drilling imports reduced dramatically to $X in 2022. Over the period under review, imports, however, recorded a perceptible slump. The growth pace was the most rapid in 2015 with an increase of 33% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Norway represented the largest importing country with an import of around X units, which finished at 58% of total imports. Sweden (X units) held a 37% share (based on physical terms) of total imports, which put it in second place, followed by Finland (5.5%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Norway (with a CAGR of +13.8%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest machine-tool for drilling importing markets in Scandinavia were Sweden ($X), Norway ($X) and Finland ($X).

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

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per unit, declining by -41.4% against the previous year. Over the period under review, the import price saw a perceptible decline. The growth pace was the most rapid in 2020 an increase of 79%. Over the period under review, import prices reached the peak figure 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 ($X per unit), while Norway ($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 (+2.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform