Scandinavia: Vehicle Seat Market 2024

Vehicle Seat Market Size in Scandinavia

The Scandinavia vehicle seat market fell slightly to $X in 2022, leveling off at the previous year. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +9.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +3.1% against 2020 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Vehicle Seat Production in Scandinavia

In value terms, vehicle seat production reduced to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 16%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Vehicle Seat Exports

Exports in Scandinavia

In 2022, after two years of growth, there was significant decline in overseas shipments of seats for motor vehicles, when their volume decreased by -47.7% to X units. Overall, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 40% against the previous year. The volume of export peaked at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, vehicle seat exports contracted to $X in 2022. Over the period under review, exports showed a perceptible setback. The growth pace was the most rapid in 2021 with an increase of 28%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden represented the largest exporter of seats for motor vehicles in Scandinavia, with the volume of exports reaching X units, which was near 82% of total exports in 2022. It was distantly followed by Finland (X units), making up a 17% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to vehicle seat exports from Sweden stood at -15.5%. Finland (-9.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Finland increased by +7.9 percentage points.

In value terms, Sweden ($X) remains the largest vehicle seat supplier in Scandinavia, comprising 82% of total exports. The second position in the ranking was taken by Finland ($X), with a 17% share of total exports.

In Sweden, vehicle seat exports declined by an average annual rate of -5.3% over the period from 2012-2022.

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2022, rising by 77% against the previous year. In general, the export price continues to indicate a strong increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per unit), while Sweden stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+12.0%).

Vehicle Seat Imports

Imports in Scandinavia

Vehicle seat imports totaled X units in 2022, approximately reflecting the year before. Overall, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of 85% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, vehicle seat imports reduced remarkably to $X in 2022. Over the period under review, imports recorded strong growth. The most prominent rate of growth was recorded in 2017 when imports increased by 72%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Finland represented the main importer of seats for motor vehicles in Scandinavia, with the volume of imports resulting at X units, which was near 59% of total imports in 2022. It was distantly followed by Sweden (X units), generating a 37% share of total imports. Norway (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +19.9%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest vehicle seat importing markets in Scandinavia were Finland ($X), Sweden ($X) and Norway ($X).

Finland, with a CAGR of +17.3%, 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 mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per unit, declining by -21.6% against the previous year. Overall, the import price saw a pronounced decline. The growth pace was the most rapid in 2016 when the import price increased by 15%. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the import prices remained 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 Norway ($X per unit), while Sweden ($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 (+1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform