Sweden: Interchangeable Spanner Socket Market 2024

Interchangeable Spanner Socket Market Size in Sweden

In 2022, the Swedish interchangeable spanner socket market decreased by -15.9% to $X, falling for the fifth consecutive year after two years of growth. Overall, consumption continues to indicate a noticeable decrease. Interchangeable spanner socket consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Interchangeable Spanner Socket Exports

Exports from Sweden

In 2022, approx. X tons of interchangeable spanner sockets were exported from Sweden; with an increase of 12% against 2021 figures. In general, exports continue to indicate a moderate expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 74%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, interchangeable spanner socket exports dropped modestly to $X in 2022. Overall, total exports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.0% 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 +38.7% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 43% against the previous year. The exports peaked at $X in 2021, and then contracted slightly in the following year.

Exports by Country

The Netherlands (X tons) was the main destination for interchangeable spanner socket exports from Sweden, with a 49% share of total exports. Moreover, interchangeable spanner socket exports to the Netherlands exceeded the volume sent to the second major destination, Norway (X tons), threefold. The third position in this ranking was taken by Denmark (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands stood at +22.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-2.3% per year) and Denmark (-1.3% per year).

In value terms, the Netherlands ($X), Norway ($X) and Denmark ($X) appeared to be the largest markets for interchangeable spanner socket exported from Sweden worldwide, together comprising 54% of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of +20.9%, saw 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 trend patterns.

Export Prices by Country

In 2022, the average interchangeable spanner socket export price amounted to $X per ton, falling by -11.8% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 30%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Netherlands ($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 the United States (+3.1%), while the prices for the other major destinations experienced mixed trend patterns.

Interchangeable Spanner Socket Imports

Imports into Sweden

In 2022, approx. X tons of interchangeable spanner sockets were imported into Sweden; therefore, remained relatively stable against the previous year. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 30% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, interchangeable spanner socket imports amounted to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 20%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Taiwan (Chinese) (X tons) constituted the largest interchangeable spanner socket supplier to Sweden, accounting for a 43% share of total imports. Moreover, interchangeable spanner socket imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The Netherlands (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Taiwan (Chinese) amounted to -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.6% per year) and the Netherlands (-6.0% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of interchangeable spanner sockets to Sweden, comprising 45% of total imports. The second position in the ranking was held by Germany ($X), with a 15% share of total imports. It was followed by the Netherlands, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from Taiwan (Chinese) was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+8.4% per year) and the Netherlands (-1.8% per year).

Import Prices by Country

In 2022, the average interchangeable spanner socket import price amounted to $X per ton, picking up by 2.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 14% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, 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 ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :