Sweden: Power Tool Market 2024

Power Tool Market Size in Sweden

After two years of decline, the Swedish power tool market increased by 42% to $X in 2021. The market value increased at an average annual rate of +5.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Power tool consumption peaked in 2021 and is likely to continue growth in the near future.

Power Tool Production in Sweden

In value terms, power tool production stood at $X in 2021 estimated in export price. Overall, production showed a resilient expansion. The growth pace was the most rapid in 2013 when the production volume increased by 705% against the previous year. Power tool production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Power Tool Exports

Exports from Sweden

In 2021, the amount of power tools exported from Sweden surged to X units, picking up by 16% compared with 2020 figures. Over the period under review, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +71.7% against 2016 indices. The most prominent rate of growth was recorded in 2014 with an increase of 22% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, power tool exports surged to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 40%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Norway (X units), Denmark (X units) and Germany (X units) were the main destinations of power tool exports from Sweden, with a combined 85% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +28.0%), while the other leaders experienced more modest paces of growth.

In value terms, Norway ($X), Belgium ($X) and Denmark ($X) constituted the largest markets for power tool exported from Sweden worldwide, with a combined 63% share of total exports. Germany, Finland, Poland and the UK lagged somewhat behind, together accounting for a further 25%.

Among the main countries of destination, Germany, with a CAGR of +27.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average power tool export price stood at $X per unit in 2021, growing by 10% against the previous year. In general, the export price, however, continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2016 when the average export price increased by 60%. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Power Tool Imports

Imports into Sweden

In 2021, approx. X units of power tools were imported into Sweden; picking up by 18% on 2020. The total import volume increased at an average annual rate of +4.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, power tool imports skyrocketed to $X in 2021. In general, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% 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 increased by +43.8% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Germany (X units) and Belgium (X units) were the main suppliers of power tool imports to Sweden, with a combined 78% share of total imports. These countries were followed by Estonia, Hungary, the Netherlands, the Czech Republic, Denmark and Norway, which together accounted for a further 33%.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +83.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Estonia ($X) appeared to be the largest power tool suppliers to Sweden, together comprising 53% of total imports. These countries were followed by Belgium, the Czech Republic, the Netherlands, Hungary, Denmark and Norway, which together accounted for a further 30%.

The Czech Republic, with a CAGR of +64.1%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average power tool import price stood at $X per unit in 2021, surging by 7.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 19% against the previous year. The import price peaked in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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