Scandinavia: Tractor Market 2024

Tractor Market Size in Scandinavia

The Scandinavia tractor market reached $X in 2022, almost unchanged from the previous year. The total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% 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 +39.1% against 2020 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in years to come.

Tractor Production in Scandinavia

In value terms, tractor production dropped to $X in 2022 estimated in export price. The total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -11.1% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 36%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Tractor Exports

Exports in Scandinavia

In 2022, the amount of tractors exported in Scandinavia contracted to X units, with a decrease of -9.2% against 2021 figures. In general, exports showed a noticeable decline. The growth pace was the most rapid in 2021 with an increase of 19% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, tractor exports shrank to $X in 2022. The total export value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 39%. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

Sweden (X units) and Finland (X units) dominates exports structure, together creating 92% of total exports. It was distantly followed by Norway (X units), committing a 7.5% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +7.3%), while shipments for the other leaders experienced mixed trends in the exports figures.

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

Norway, with a CAGR of +7.9%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per unit, picking up by 2.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.5%. The most prominent rate of growth was recorded in 2021 when the export price increased by 17% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Finland ($X per unit), while Norway ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+5.4%), while the other leaders experienced more modest paces of growth.

Tractor Imports

Imports in Scandinavia

In 2022, approx. X units of tractors were imported in Scandinavia; approximately mirroring the previous year. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 66% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, tractor imports contracted to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 34% against the previous year. As a result, imports reached the peak of $X, and then fell slightly in the following year.

Imports by Country

Finland (X units) and Sweden (X units) represented the key importers of tractors in 2022, recording near 38% and 36% of total imports, respectively. It was distantly followed by Norway (X units), generating a 26% 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 Norway (with a CAGR of +4.5%), while imports for the other leaders experienced a decline 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.

Norway, with a CAGR of +2.1%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per unit, waning by -4.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2017 an increase of 32%. Over the period under review, import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, 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 Sweden (+1.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform