Scandinavia: Boiler Parts Market 2024

Boiler Parts Market Size in Scandinavia

After three years of decline, the Scandinavia boiler parts market increased by 12% to $X in 2021. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Boiler Parts Production in Scandinavia

In value terms, boiler parts production expanded remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a mild slump. The pace of growth was the most pronounced in 2016 with an increase of 35%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Boiler Parts Exports

Exports in Scandinavia

Boiler parts exports surged to X tons in 2021, picking up by 37% on 2020 figures. In general, exports, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2016 when exports increased by 65% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, boiler parts exports surged to $X in 2021. Overall, exports, however, showed a perceptible downturn. The pace of growth appeared the most rapid in 2016 with an increase of 105%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Denmark (X tons) represented the largest exporter of parts of boilers for central heating, comprising 53% of total exports. Sweden (X tons) took a 34% share (based on physical terms) of total exports, which put it in second place, followed by Finland (10%). Norway (X tons) took a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of -6.5%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Sweden ($X), Denmark ($X) and Finland ($X) constituted the countries with the highest levels of exports in 2021, with a combined 94% share of total exports. These countries were followed by Norway, which accounted for a further 6.4%.

Norway, with a CAGR of +2.7%, 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 ton in 2021, picking up by 13% against the previous year. Export price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, boiler parts export price increased by +40.3% against 2019 indices. The pace of growth was the most pronounced in 2018 an increase of 24% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Norway ($X per ton), while Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+12.2%), while the other leaders experienced more modest paces of growth.

Boiler Parts Imports

Imports in Scandinavia

In 2021, supplies from abroad of parts of boilers for central heating was finally on the rise to reach X tons after two years of decline. Total imports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, boiler parts imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Denmark (X tons) represented the major importer of parts of boilers for central heating, constituting 52% of total imports. It was distantly followed by Norway (X tons), Sweden (X tons) and Finland (X tons), together committing a 48% share of total imports.

Denmark experienced a relatively flat trend pattern with regard to volume of imports of parts of boilers for central heating. At the same time, Norway (+9.9%) and Sweden (+4.5%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +9.9% from 2012-2021. By contrast, Finland (-7.9%) illustrated a downward trend over the same period. Norway (+11 p.p.) and Sweden (+4.4 p.p.) significantly strengthened its position in terms of the total imports, while Denmark and Finland saw its share reduced by -5.8% and -9.9% from 2012 to 2021, respectively.

In value terms, Denmark ($X) constitutes the largest market for imported parts of boilers for central heating in Scandinavia, comprising 50% of total imports. The second position in the ranking was taken by Norway ($X), with a 23% share of total imports. It was followed by Sweden, with a 20% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Denmark totaled +1.3%. The remaining importing countries recorded the following average annual rates of imports growth: Norway (+6.5% per year) and Sweden (+3.5% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, with a decrease of -9.1% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 28% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Sweden ($X per ton) and Norway ($X per ton), while Denmark ($X per ton) and Finland ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+1.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform