Sweden: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Sweden

After two years of growth, the Swedish gear cutting machine market decreased by -13.9% to $X in 2021. In general, consumption, however, recorded slight growth. Gear cutting machine consumption peaked at $X in 2020, and then declined in the following year.

Gear Cutting Machine Production in Sweden

In value terms, gear cutting machine production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 when the production volume increased by 3.6%. Gear cutting machine production peaked at $X in 2020, and then reduced slightly in the following year.

Gear Cutting Machine Exports

Exports from Sweden

In 2021, the amount of gear cutting, gear grinding or gear finishing machines exported from Sweden soared to X units, picking up by 932% on the year before. Over the period under review, exports enjoyed a strong increase. The pace of growth was the most pronounced in 2015 with an increase of 1,250% against the previous year. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, gear cutting machine exports surged to $X in 2021. Overall, exports showed a noticeable increase. The pace of growth appeared the most rapid in 2013 with an increase of 2,589%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The UK (X units), Australia (X units) and Germany (X units) were the main destinations of gear cutting machine exports from Sweden, together comprising 95% of total exports.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +46.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) emerged as the key foreign market for gear cutting, gear grinding or gear finishing machines exports from Sweden, comprising 63% of total exports. The second position in the ranking was taken by Australia ($X), with a 27% share of total exports. It was followed by Indonesia, with a 0.7% share.

From 2012 to 2021, the average annual growth rate of value to Germany amounted to -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+53.7% per year) and Indonesia (0.0% per year).

Export Prices by Country

In 2021, the average gear cutting machine export price amounted to $X per unit, declining by -83.9% against the previous year. Over the period under review, the export price continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2013 when the average export price increased by 444% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 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 Germany ($X per unit), while the average price for exports to the UK ($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 Argentina (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Cutting Machine Imports

Imports into Sweden

In 2021, approx. X units of gear cutting, gear grinding or gear finishing machines were imported into Sweden; with an increase of 135% against the year before. Over the period under review, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 1,338%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, gear cutting machine imports contracted to $X in 2021. In general, imports, however, continue to indicate a deep setback. The pace of growth was the most pronounced in 2017 with an increase of 287% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Singapore (X units), South Korea (X units) and China (X units) were the main suppliers of gear cutting machine imports to Sweden, with a combined 87% share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +170.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of gear cutting, gear grinding or gear finishing machines to Sweden, comprising 69% of total imports. The second position in the ranking was held by Germany ($X), with a 31% share of total imports. It was followed by Austria, with a 0.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-16.0% per year) and Austria (0.0% per year).

Import Prices by Country

The average gear cutting machine import price stood at $X per unit in 2021, falling by -62.2% against the previous year. In general, the import price saw a dramatic descent. The growth pace was the most rapid in 2017 an increase of 328% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+4.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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