Sweden: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Sweden

For the fourth year in a row, the Swedish grinding and sharpening machine market recorded growth in sales value, which increased by 71% to $X in 2022. Overall, consumption recorded a buoyant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Grinding And Sharpening Metal Finishing Machines in Sweden

In value terms, grinding and sharpening machine production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production enjoyed strong growth. The pace of growth was the most pronounced in 2013 when the production volume increased by 206% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Sweden

In 2022, after three years of growth, there was significant decline in overseas shipments of grinding and sharpening metal finishing machines, when their volume decreased by -8.2% to X units. Over the period under review, exports, however, posted a resilient expansion. The growth pace was the most rapid in 2020 with an increase of 27%. Over the period under review, the exports reached the maximum at X units in 2021, and then shrank in the following year.

In value terms, grinding and sharpening machine exports contracted to $X in 2022. In general, exports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2015 with an increase of 43% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Canada (X units), Germany (X units) and Norway (X units) were the main destinations of grinding and sharpening machine exports from Sweden, with a combined 47% share of total exports. The United States, France, Brazil, the UK, Finland, Austria, Slovakia, Italy, Switzerland and Denmark lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovakia (with a CAGR of +107.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for grinding and sharpening machine exported from Sweden were Germany ($X), the United States ($X) and Norway ($X), together accounting for 37% of total exports. France, Canada, Finland, Brazil, the UK, Italy, Austria, Denmark, Switzerland and Slovakia lagged somewhat behind, together accounting for a further 31%.

Among the main countries of destination, Slovakia, with a CAGR of +63.1%, saw 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

In 2022, the average grinding and sharpening machine export price amounted to $X per unit, declining by -3% against the previous year. Over the period under review, the export price showed a drastic downturn. The most prominent rate of growth was recorded in 2015 an increase of 46%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per unit), while the average price for exports to Canada ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Sweden

In 2022, supplies from abroad of grinding and sharpening metal finishing machines decreased by -33.8% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, enjoyed tangible growth. The most prominent rate of growth was recorded in 2021 with an increase of 81%. As a result, imports attained the peak of X units, and then fell remarkably in the following year.

In value terms, grinding and sharpening machine imports plummeted to $X in 2022. In general, imports recorded a abrupt decline. The pace of growth was the most pronounced in 2021 when imports increased by 147%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Germany (X units) and Denmark (X units) were the main suppliers of grinding and sharpening machine imports to Sweden, with a combined 92% share of total imports. Italy lagged somewhat behind, comprising a further 1.7%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +27.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of grinding and sharpening metal finishing machines to Sweden, comprising 37% of total imports. The second position in the ranking was taken by China ($X), with a 17% share of total imports. It was followed by Denmark, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at -11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.9% per year) and Denmark (-2.8% per year).

Import Prices by Country

The average grinding and sharpening machine import price stood at $X per unit in 2022, dropping by -22% against the previous year. In general, the import price saw a significant decrease. The pace of growth appeared the most rapid in 2021 when the average import price increased by 36%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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