Scandinavia: Internal Combustion Engines Market 2025

Internal Combustion Engines Market Size in Scandinavia

In 2021, the Scandinavia internal combustion engines market increased by 5% to $X, rising for the third year in a row after two years of decline. Overall, consumption, however, continues to indicate a mild reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Internal Combustion Engines Production in Scandinavia

In value terms, internal combustion engines production fell slightly to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 13% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; afterwards, it flattened through to 2021.

Internal Combustion Engines Exports

Exports in Scandinavia

In 2021, shipments abroad of motor vehicles compression-ignition internal combustion piston engines decreased by -4% to X units, falling for the third consecutive year after two years of growth. Total exports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -30.1% against 2018 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 81%. Over the period under review, the exports reached the peak figure at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, internal combustion engines 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 +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 28% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Sweden dominates exports structure, amounting to X units, which was approx. 95% of total exports in 2021. Norway (X units) followed a long way behind the leaders.

Exports from Sweden increased at an average annual rate of +2.6% from 2012 to 2021. At the same time, Norway (+24.0%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +24.0% from 2012-2021. Norway (+3 p.p.) significantly strengthened its position in terms of the total exports, while Sweden saw its share reduced by -2.4% from 2012 to 2021, respectively.

In value terms, Sweden ($X) remains the largest internal combustion engines supplier in Scandinavia, comprising 99% of total exports. The second position in the ranking was taken by Norway ($X), with a 0.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden amounted to +3.8%.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per unit, surging by 30% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 40%. Over the period under review, the export prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sweden ($X per unit), while Norway amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+1.2%).

Internal Combustion Engines Imports

Imports in Scandinavia

In 2021, the amount of motor vehicles compression-ignition internal combustion piston engines imported in Scandinavia rose notably to X units, with an increase of 8% against the previous year's figure. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -15.9% against 2019 indices. The pace of growth was the most pronounced in 2015 with an increase of 60% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, internal combustion engines imports soared to $X in 2021. Total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -9.2% against 2018 indices. The pace of growth appeared the most rapid in 2013 with an increase of 47%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Finland (X units) was the main importer of motor vehicles compression-ignition internal combustion piston engines, creating 73% of total imports. Sweden (X units) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by Denmark (6.4%). Norway (X units) took a relatively small share of total imports.

Finland was also the fastest-growing in terms of the motor vehicles compression-ignition internal combustion piston engines imports, with a CAGR of +28.0% from 2012 to 2021. At the same time, Norway (+1.3%) and Denmark (+1.1%) displayed positive paces of growth. By contrast, Sweden (-10.5%) illustrated a downward trend over the same period. Finland (+60 p.p.) significantly strengthened its position in terms of the total imports, while Norway, Denmark and Sweden saw its share reduced by -1.9%, -3% and -55.1% from 2012 to 2021, respectively.

In value terms, Finland ($X) constitutes the largest market for imported motor vehicles compression-ignition internal combustion piston engines in Scandinavia, comprising 69% of total imports. The second position in the ranking was taken by Sweden ($X), with a 22% share of total imports. It was followed by Norway, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Finland stood at +31.5%. In the other countries, the average annual rates were as follows: Sweden (-5.2% per year) and Norway (-3.7% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per unit in 2021, growing by 6.7% against the previous year. Import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, internal combustion engines import price increased by +10.0% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the import price increased by 53%. Over the period under review, import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sweden ($X per unit), while Denmark ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+5.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform