Sweden: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Sweden

The Swedish mechanical shovel and excavator market was finally on the rise to reach $X in 2021, after three years of decline. Overall, consumption, however, saw a relatively flat trend pattern. Mechanical shovel and excavator consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Sweden

In 2021, the amount of mechanical shovels, excavators and shovel loaders exported from Sweden soared to X units, increasing by 39% on the year before. Overall, total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +72.5% against 2017 indices. The pace of growth appeared the most rapid in 2014 with an increase of 97% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, mechanical shovel and excavator exports soared to $X in 2021. The total export value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Norway (X units) was the main destination for mechanical shovel and excavator exports from Sweden, accounting for a 40% share of total exports. Moreover, mechanical shovel and excavator exports to Norway exceeded the volume sent to the second major destination, Poland (X units), threefold. Egypt (X units) ranked third in terms of total exports with a 5% share.

From 2012 to 2021, the average annual growth rate of volume to Norway amounted to +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+34.6% per year) and Egypt (+22.8% per year).

In value terms, Norway ($X), Poland ($X) and Finland ($X) were the largest markets for mechanical shovel and excavator exported from Sweden worldwide, together accounting for 62% of total exports. The Netherlands, Germany, the Czech Republic, Egypt, Denmark, Chile, Iceland, the United States and China lagged somewhat behind, together comprising a further 21%.

In terms of the main countries of destination, China, with a CAGR of +183.5%, 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 more modest paces of growth.

Export Prices by Country

The average mechanical shovel and excavator export price stood at $X per unit in 2021, remaining stable against the previous year. Over the period under review, the export price, however, saw a pronounced curtailment. The growth pace was the most rapid in 2015 an increase of 15%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, 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 China ($X per unit), while the average price for exports to the United States ($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 China (+511.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Sweden

In 2021, supplies from abroad of mechanical shovels, excavators and shovel loaders was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 44% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, mechanical shovel and excavator imports surged to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest mechanical shovel and excavator supplier to Sweden, accounting for a 26% share of total imports. Moreover, mechanical shovel and excavator imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The third position in this ranking was taken by the UK (X units), with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +18.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-7.5% per year) and the UK (-3.1% per year).

In value terms, the largest mechanical shovel and excavator suppliers to Sweden were Germany ($X), the UK ($X) and the Netherlands ($X), with a combined 36% share of total imports. China, Norway, Belgium, Japan, Finland, France, the United States and Denmark lagged somewhat behind, together accounting for a further 56%.

China, with a CAGR of +22.9%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average mechanical shovel and excavator import price amounted to $X per unit, with an increase of 24% against the previous year. Overall, the import price, however, continues to indicate a slight downturn. The growth pace was the most rapid in 2016 when the average import price increased by 25% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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