Scandinavia: Silencer Market 2024

Silencer Market Size in Scandinavia

For the third year in a row, the Scandinavia silencer market recorded growth in sales value, which increased by 13% to $X in 2021. The market value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Silencer Production in Scandinavia

In value terms, silencer production shrank slightly to $X in 2021 estimated in export price. In general, production continues to indicate a noticeable decline. The growth pace was the most rapid in 2013 with an increase of 1% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Silencer Exports

Exports in Scandinavia

In 2021, overseas shipments of silencers and exhaust pipes decreased by -26.2% to X tons, falling for the third consecutive year after seven years of growth. Over the period under review, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2014 with an increase of 16% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, silencer exports contracted remarkably to $X in 2021. Overall, exports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2013 with an increase of 29% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sweden represented the major exporter of silencers and exhaust pipes in Scandinavia, with the volume of exports amounting to X tons, which was near 59% of total exports in 2021. Denmark (X tons) held a 30% share (based on physical terms) of total exports, which put it in second place, followed by Finland (11%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Finland (with a CAGR of +2.8%), while the other leaders experienced a decline in the exports figures.

In value terms, Sweden ($X) remains the largest silencer supplier in Scandinavia, comprising 65% of total exports. The second position in the ranking was held by Denmark ($X), with a 29% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden amounted to -7.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Denmark (-5.2% per year) and Finland (+5.9% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, surging by 7.1% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the export price increased by 16% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Sweden ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+3.1%), while the other leaders experienced mixed trends in the export price figures.

Silencer Imports

Imports in Scandinavia

In 2021, supplies from abroad of silencers and exhaust pipes increased by 1.8% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 23% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, silencer imports reached $X in 2021. Total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -38.6% against 2018 indices. The growth pace was the most rapid in 2014 when imports increased by 38%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Sweden represented the key importing country with an import of about X tons, which resulted at 59% of total imports. It was distantly followed by Denmark (X tons) and Finland (X tons), together comprising a 38% share of total imports. Norway (X tons) followed a long way behind the leaders.

Imports into Sweden increased at an average annual rate of +6.4% from 2012 to 2021. At the same time, Finland (+8.4%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +8.4% from 2012-2021. By contrast, Norway (-8.2%) and Denmark (-9.2%) illustrated a downward trend over the same period. Sweden (+24 p.p.) and Finland (+8.9 p.p.) significantly strengthened its position in terms of the total imports, while Norway and Denmark saw its share reduced by -3.4% and -29.1% from 2012 to 2021, respectively.

In value terms, Sweden ($X) constitutes the largest market for imported silencers and exhaust pipes in Scandinavia, comprising 60% of total imports. The second position in the ranking was held by Finland ($X), with a 22% share of total imports. It was followed by Denmark, with a 14% share.

In Sweden, silencer imports increased at an average annual rate of +9.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Finland (+11.6% per year) and Denmark (-5.4% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, approximately equating the previous year. Import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silencer import price decreased by -17.2% against 2018 indices. The growth pace was the most rapid in 2014 an increase of 31% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a 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 ($X per ton), while Denmark ($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 (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform