Scandinavia: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Scandinavia

The Scandinavia mechanical shovel and excavator market soared to $X in 2021, increasing by 33% against the previous year. In general, consumption, however, recorded a perceptible setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Mechanical Shovels, Excavators And Shovel Loaders in Scandinavia

In value terms, mechanical shovel and excavator production dropped to $X in 2021 estimated in export price. Overall, production, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2017 with an increase of 51%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports in Scandinavia

Mechanical shovel and excavator exports surged to X units in 2021, increasing by 17% against the previous year. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +84.7% against 2012 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, mechanical shovel and excavator exports skyrocketed to $X in 2021. Total exports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +23.5% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Finland was the main exporter of mechanical shovels, excavators and shovel loaders in Scandinavia, with the volume of exports recording X units, which was near 71% of total exports in 2021. Norway (X units) took the second position in the ranking, distantly followed by Sweden (X units). All these countries together held approx. 29% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to mechanical shovel and excavator exports from Finland stood at +5.9%. At the same time, Norway (+12.2%) and Sweden (+7.4%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +12.2% from 2012-2021. From 2012 to 2021, the share of Norway increased by +7.3 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Finland ($X) remains the largest mechanical shovel and excavator supplier in Scandinavia, comprising 74% of total exports. The second position in the ranking was taken by Norway ($X), with a 20% share of total exports.

In Finland, mechanical shovel and excavator exports increased at an average annual rate of +1.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Norway (+14.8% per year) and Sweden (+3.7% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per unit, picking up by 12% against the previous year. In general, the export price, however, saw a perceptible decrease. The pace of growth appeared the most rapid in 2017 when the export price increased by 27% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Norway (+2.3%), while the other leaders experienced a decline in the export price figures.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports in Scandinavia

In 2021, the amount of mechanical shovels, excavators and shovel loaders imported in Scandinavia skyrocketed to X units, surging by 19% on the previous year's figure. The total import volume increased at an average annual rate of +1.0% from 2012 to 2021; the trend pattern remained consistent, 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.

In value terms, mechanical shovel and excavator imports surged to $X in 2021. In general, imports recorded a relatively flat trend pattern. The level of import peaked at $X in 2019; afterwards, it flattened through to 2021.

Imports by Country

Norway (X units) and Sweden (X units) were the major importers of mechanical shovels, excavators and shovel loaders in 2021, resulting at near 39% and 39% of total imports, respectively. It was distantly followed by Finland (X units), committing a 21% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Finland (with a CAGR of +3.3%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Norway ($X), Sweden ($X) and Finland ($X) constituted the countries with the highest levels of imports in 2021.

Finland, with a CAGR of +4.2%, recorded 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 a decline in the imports figures.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per unit, surging by 9.5% against the previous year. Overall, the import price, however, saw a mild contraction. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Finland (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform