Scandinavia: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in Scandinavia

The Scandinavia non-electric industrial furnace market reduced notably to $X in 2022, with a decrease of -21.4% against the previous year. Overall, consumption continues to indicate a mild decrease. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Non-Electric Industrial Furnace Production in Scandinavia

In value terms, non-electric industrial furnace production contracted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 55% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Non-Electric Industrial Furnace Exports

Exports in Scandinavia

In 2022, shipments abroad of non-electric industrial or laboratory furnaces and ovens increased by 46% to X units for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2018 when exports increased by 236%. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, non-electric industrial furnace exports soared to $X in 2022. Over the period under review, exports, however, faced a abrupt contraction. The pace of growth was the most pronounced in 2014 with an increase of 129%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden was the main exporting country with an export of around X units, which amounted to 57% of total exports. It was distantly followed by Norway (X units) and Finland (X units), together generating a 43% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +14.5%), while shipments for the other leaders experienced a decline in the exports figures.

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

Sweden, with a CAGR of +5.1%, recorded the highest growth rate of 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

The export price in Scandinavia stood at $X per unit in 2022, waning by -18.5% against the previous year. Overall, the export price showed a noticeable slump. The most prominent rate of growth was recorded in 2017 an increase of 195% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 2022, the most notable rate of growth in terms of prices was attained by Norway (-0.9%), while the other leaders experienced a decline in the export price figures.

Non-Electric Industrial Furnace Imports

Imports in Scandinavia

Non-electric industrial furnace imports shrank rapidly to X units in 2022, falling by -24.6% on the year before. Over the period under review, imports showed a slight curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 209% against the previous year. Over the period under review, imports attained the peak figure at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, non-electric industrial furnace imports fell notably to $X in 2022. In general, imports, however, enjoyed mild growth. The pace of growth was the most pronounced in 2020 with an increase of 256%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Norway (X units) and Finland (X units) represented roughly 75% of total imports in 2022. It was distantly followed by Sweden (X units), making up a 25% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Sweden (with a CAGR of +5.4%), while imports for the other leaders experienced mixed trends in the imports figures.

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

Sweden, with a CAGR of +4.6%, 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, increasing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2013 an increase of 49%. Over the period under review, import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per unit), while Norway ($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 (+5.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform