Sweden: Market for Plastic or Non-Precious Metal Watches 2024

Market Size for Plastic or Non-Precious Metal Watches in Sweden

In 2022, the Swedish market for plastic or non-precious metal watches decreased by -8.2% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Plastic or Non-Precious Metal Watches in Sweden

In value terms, plastic or non-precious metal watch production soared to $X in 2022 estimated in export price. In general, production saw a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of 375%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Exports of Plastic or Non-Precious Metal Watches

Exports from Sweden

In 2022, the amount of plastic or non-precious metal watches exported from Sweden reduced notably to X units, dropping by -26% compared with 2021. Over the period under review, exports saw a perceptible descent. The pace of growth was the most pronounced in 2015 when exports increased by 95% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, plastic or non-precious metal watch exports reduced rapidly to $X in 2022. Overall, exports, however, showed a mild expansion. The growth pace was the most rapid in 2014 with an increase of 81%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Norway (X units), Italy (X units) and Finland (X units) were the main destinations of plastic or non-precious metal watch exports from Sweden, with a combined 48% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +44.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic or non-precious metal watch exported from Sweden were Norway ($X), Italy ($X) and the United States ($X), together accounting for 41% of total exports.

Among the main countries of destination, Italy, with a CAGR of +47.2%, 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 export price for plastic or non-precious metal watches stood at $X per unit in 2022, rising by 6.4% against the previous year. Over the last decade, it increased at an average annual rate of +4.5%. The pace of growth was the most pronounced in 2014 an increase of 22% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Japan ($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 the Netherlands (+19.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic or Non-Precious Metal Watches

Imports into Sweden

Plastic or non-precious metal watch imports into Sweden fell sharply to X units in 2022, reducing by -29.3% compared with the previous year. Overall, imports showed a pronounced shrinkage. The pace of growth was the most pronounced in 2015 when imports increased by 29%. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, plastic or non-precious metal watch imports dropped remarkably to $X in 2022. Over the period under review, imports recorded a perceptible downturn. The growth pace was the most rapid in 2021 when imports increased by 21% against the previous year. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest plastic or non-precious metal watch supplier to Sweden, accounting for a 63% share of total imports. Moreover, plastic or non-precious metal watch imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), fivefold. The third position in this ranking was held by Germany (X units), with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-17.6% per year) and Germany (-8.5% per year).

In value terms, Switzerland ($X), China ($X) and Germany ($X) constituted the largest plastic or non-precious metal watch suppliers to Sweden, together accounting for 66% of total imports. The Netherlands, France, Hong Kong SAR, Poland and Denmark lagged somewhat behind, together accounting for a further 24%.

Among the main suppliers, Poland, with a CAGR of +50.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for plastic or non-precious metal watches amounted to $X per unit, increasing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. The growth pace was the most rapid in 2018 when the average import price increased by 16% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+31.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform