Scandinavia: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Scandinavia

The Scandinavia oil dispensing pump market fell dramatically to $X in 2021, reducing by -26% against the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2020, and then fell dramatically in the following year.

Oil Dispensing Pump Production in Scandinavia

In value terms, oil dispensing pump production reduced markedly to $X in 2021 estimated in export price. Overall, production continues to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2013 when the production volume increased by 169% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Oil Dispensing Pump Exports

Exports in Scandinavia

In 2021, shipments abroad of petrol and oil dispensing pumps increased by 51% to X units, rising for the third year in a row after three years of decline. Overall, exports saw noticeable growth. The most prominent rate of growth was recorded in 2019 with an increase of 62% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, oil dispensing pump exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 60% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Denmark was the key exporter of petrol and oil dispensing pumps in Scandinavia, with the volume of exports accounting for X units, which was approx. 62% of total exports in 2021. Norway (X units) held a 14% share (based on physical terms) of total exports, which put it in second place, followed by Finland (13%) and Sweden (10%).

From 2012 to 2021, average annual rates of growth with regard to oil dispensing pump exports from Denmark stood at +6.6%. At the same time, Norway (+41.3%) and Finland (+22.3%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +41.3% from 2012-2021. By contrast, Sweden (-13.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Denmark, Norway and Finland increased by +16, +13 and +11 percentage points, respectively.

In value terms, Denmark ($X) remains the largest oil dispensing pump supplier in Scandinavia, comprising 69% of total exports. The second position in the ranking was taken by Norway ($X), with a 13% share of total exports. It was followed by Sweden, with an 11% share.

In Denmark, oil dispensing pump exports increased at an average annual rate of +34.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Norway (+24.6% per year) and Sweden (-26.4% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per unit, remaining stable against the previous year. Over the period under review, the export price recorded a drastic downturn. The growth pace was the most rapid in 2016 an increase of 36% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+25.8%), while the other leaders experienced mixed trends in the export price figures.

Oil Dispensing Pump Imports

Imports in Scandinavia

In 2021, overseas purchases of petrol and oil dispensing pumps increased by 2.5% to X units, rising for the sixth year in a row after three years of decline. In general, imports continue to indicate resilient growth. The growth pace was the most rapid in 2019 with an increase of 26%. The volume of import peaked in 2021 and is likely to see steady growth in years to come.

In value terms, oil dispensing pump imports declined modestly to $X in 2021. Total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +70.2% against 2015 indices. The most prominent rate of growth was recorded in 2018 with an increase of 18% against the previous year. The level of import peaked at $X in 2020, and then fell slightly in the following year.

Imports by Country

Sweden (X units) and Finland (X units) were the main importers of petrol and oil dispensing pumps in 2021, amounting to approx. 40% and 32% of total imports, respectively. Norway (X units) took the next position in the ranking, followed by Denmark (X units). All these countries together held approx. 25% share of total imports. Iceland (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Sweden (with a CAGR of +10.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest oil dispensing pump importing markets in Scandinavia were Sweden ($X), Norway ($X) and Finland ($X), with a combined 84% share of total imports.

In terms of the main importing countries, Sweden, with a CAGR of +5.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Scandinavia stood at $X per unit in 2021, which is down by -3.9% against the previous year. In general, the import price continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2017 an increase of 6.8%. Over the period under review, import prices reached the maximum at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+8.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform