Scandinavia: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Scandinavia

The Scandinavia market for turbo, rotary and reciporating displacement compressors declined to $X in 2022, waning by -12.2% against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Turbo, Rotary and Reciporating Displacement Compressors in Scandinavia

In value terms, production of turbo, rotary and reciporating displacement compressors fell rapidly to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 31% against the previous year. The level of production peaked at $X in 2021, and then shrank dramatically in the following year.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports in Scandinavia

In 2022, after three years of growth, there was significant decline in overseas shipments of turbo, rotary and reciporating displacement compressors, when their volume decreased by -17.2% to X units. Total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.1% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 38%. As a result, the exports reached the peak of X units, and then fell notably in the following year.

In value terms, exports of turbo, rotary and reciporating displacement compressors contracted to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 39% against the previous year. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

Sweden dominates compressors structure, resulting at X units, which was near 87% of total exports in 2022. Finland (X units) ranks second in terms of the total exports with a 7.6% share, followed by Norway (5.2%).

Sweden was also the fastest-growing in terms of the turbo, rotary and reciporating displacement compressors exports, with a CAGR of +5.4% from 2012 to 2022. At the same time, Norway (+1.5%) displayed positive paces of growth. By contrast, Finland (-3.5%) illustrated a downward trend over the same period. Sweden (+10 p.p.) significantly strengthened its position in terms of the total exports, while Norway and Finland saw its share reduced by -1.5% and -8.6% from 2012 to 2022, respectively.

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

In terms of the main exporting countries, Finland, with a CAGR of +4.1%, recorded the highest rates of growth with regard to the value of exports, 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, rising by 3% against the previous year. In general, the export price, however, saw a noticeable decrease. The pace of growth was the most pronounced in 2019 when the export price increased by 21% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+7.9%), while the other leaders experienced a decline in the export price figures.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports in Scandinavia

In 2022, the amount of turbo, rotary and reciporating displacement compressors imported in Scandinavia shrank to X units, reducing by -14.8% on 2021. Over the period under review, imports recorded a slight decrease. The pace of growth was the most pronounced in 2021 when imports increased by 29% against the previous year. As a result, imports reached the peak of X units, and then declined in the following year.

In value terms, imports of turbo, rotary and reciporating displacement compressors declined to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 15% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Sweden (X units) was the main importer of turbo, rotary and reciporating displacement compressors, creating 76% of total imports. Finland (X units) held the second position in the ranking, distantly followed by Norway (X units). All these countries together held near 24% share of total imports.

Sweden was also the fastest-growing in terms of the turbo, rotary and reciporating displacement compressors imports, with a CAGR of +3.7% from 2012 to 2022. At the same time, Norway (+3.2%) displayed positive paces of growth. By contrast, Finland (-10.9%) illustrated a downward trend over the same period. Sweden (+29 p.p.) and Norway (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Finland saw its share reduced by -31.4% from 2012 to 2022, respectively.

In value terms, Sweden ($X) constitutes the largest market for imported turbo, rotary and reciporating displacement compressors in Scandinavia, comprising 70% of total imports. The second position in the ranking was taken by Finland ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Finland (-0.9% per year) and Norway (-0.6% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per unit, surging by 3.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2014 an increase of 30%. The level of import peaked at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+11.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform