Scandinavia: Transmission Shaft Market 2024

Transmission Shaft Market Size in Scandinavia

The Scandinavia transmission shaft market dropped slightly to $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, leveling off in the following year.

Transmission Shaft Production in Scandinavia

In value terms, transmission shaft production dropped markedly to $X in 2022 estimated in export price. In general, production showed a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of 60% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Transmission Shaft Exports

Exports in Scandinavia

In 2022, the amount of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exported in Scandinavia shrank rapidly to X tons, declining by -16.1% compared with the year before. Overall, exports continue to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2014 when exports increased by 30%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, transmission shaft exports declined to $X in 2022. In general, exports recorded a mild downturn. The pace of growth was the most pronounced in 2014 when exports increased by 26%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Sweden represented the main exporting country with an export of around X tons, which finished at 65% of total exports. It was distantly followed by Finland (X tons), generating a 31% share of total exports. Norway (X tons) followed a long way behind the leaders.

Sweden was also the fastest-growing in terms of the transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exports, with a CAGR of -2.0% from 2012 to 2022. Finland (-4.1%) and Norway (-11.8%) illustrated a downward trend over the same period. While the share of Sweden (+8.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Finland (-2.4 p.p.) and Norway (-5.8 p.p.) displayed negative dynamics.

In value terms, Sweden ($X) remains the largest transmission shaft supplier in Scandinavia, comprising 63% of total exports. The second position in the ranking was held by Finland ($X), with a 30% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden was relatively modest. In the other countries, the average annual rates were as follows: Finland (-4.0% per year) and Norway (-7.1% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, surging by 5.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2013 when the export price increased by 15% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+5.3%), while the other leaders experienced more modest paces of growth.

Transmission Shaft Imports

Imports in Scandinavia

In 2022, transmission shaft imports in Scandinavia reduced to X tons, declining by -7.7% on the previous year's figure. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 21%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, transmission shaft imports dropped to $X in 2022. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 20%. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

Sweden was the largest importer of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain in Scandinavia, with the volume of imports accounting for X tons, which was approx. 61% of total imports in 2022. It was distantly followed by Finland (X tons) and Norway (X tons), together constituting a 39% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +5.8%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Sweden ($X), Finland ($X) and Norway ($X) appeared to be the countries with the highest levels of imports in 2022.

Finland, with a CAGR of +4.3%, saw 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 mixed trends in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, growing by 1.7% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 9.7%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+2.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform