Sweden: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in Sweden

In 2022, the Swedish gym and fitness equipment market decreased by -13.3% to $X for the first time since 2017, thus ending a four-year rising trend. Overall, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +66.8% against 2017 indices. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Production of Gym and Fitness Equipment in Sweden

In value terms, gym and fitness equipment production fell slightly to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2021 with an increase of 0.7%. Gym and fitness equipment production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Gym and Fitness Equipment

Exports from Sweden

In 2022, after ten years of growth, there was significant decline in shipments abroad of gym and fitness equipment, when their volume decreased by -13.9% to X tons. In general, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of 42% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, gym and fitness equipment exports contracted to $X in 2022. Overall, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 44% against the previous year. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

Norway (X tons), Finland (X tons) and Denmark (X tons) were the main destinations of gym and fitness equipment exports from Sweden, with a combined 66% share of total exports. The United States, the UK, Germany, the Netherlands, Spain, Poland, the Czech Republic and Austria lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +31.3%), while the other leaders experienced more modest paces of growth.

In value terms, Finland ($X), Norway ($X) and the United States ($X) constituted the largest markets for gym and fitness equipment exported from Sweden worldwide, with a combined 65% share of total exports. Denmark, the UK, Germany, the Netherlands, Spain, Austria, Poland and the Czech Republic lagged somewhat behind, together accounting for a further 18%.

Austria, with a CAGR of +31.1%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average gym and fitness equipment export price stood at $X per ton in 2022, growing by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2021 an increase of 23% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gym and Fitness Equipment

Imports into Sweden

In 2022, purchases abroad of gym and fitness equipment decreased by -20.2% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2021 when imports increased by 41%. As a result, imports reached the peak of X tons, and then contracted significantly in the following year.

In value terms, gym and fitness equipment imports fell to $X in 2022. In general, imports, however, showed a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of 61% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of gym and fitness equipment to Sweden, accounting for a 61% share of total imports. Moreover, gym and fitness equipment imports from China exceeded the figures recorded by the second-largest supplier, Denmark (X tons), eightfold. The Netherlands (X tons) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+16.4% per year) and the Netherlands (+13.4% per year).

In value terms, China ($X) constituted the largest supplier of gym and fitness equipment to Sweden, comprising 35% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 12% share of total imports. It was followed by Denmark, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+18.2% per year) and Denmark (+16.7% per year).

Import Prices by Country

In 2022, the average gym and fitness equipment import price amounted to $X per ton, increasing by 13% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 14%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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 Finland ($X per ton), while the price for China ($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 (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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