Sweden: Road Wheel Market 2024

Road Wheel Market Size in Sweden

The Swedish road wheel market shrank modestly to $X in 2022, waning by -2.1% against the previous year. The market value increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Road Wheel Production in Sweden

In value terms, road wheel production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a mild slump. The pace of growth was the most pronounced in 2014 with an increase of 52% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Road Wheel Exports

Exports from Sweden

In 2022, shipments abroad of road wheels increased by 4.7% to X tons, rising for the second consecutive year after five years of decline. Overall, exports, however, showed a perceptible reduction. The pace of growth was the most pronounced in 2015 with an increase of 69% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, road wheel exports rose notably to $X in 2022. The total export value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 42%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Norway (X tons), Finland (X tons) and Denmark (X tons) were the main destinations of road wheel exports from Sweden, together comprising 67% of total exports. Belgium, the United States, Turkey, Germany, Poland, Canada, the UK, Russia and Brazil lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +35.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Norway ($X) remains the key foreign market for road wheels exports from Sweden, comprising 43% of total exports. The second position in the ranking was taken by Finland ($X), with a 17% share of total exports. It was followed by Denmark, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Norway stood at +7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+2.6% per year) and Denmark (+5.7% per year).

Export Prices by Country

In 2022, the average road wheel export price amounted to $X per ton, increasing by 1.5% against the previous year. In general, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, road wheel export price increased by +76.3% against 2016 indices. The growth pace was the most rapid in 2014 when the average export price increased by 43%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Belgium ($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 Germany (+20.9%), while the prices for the other major destinations experienced more modest paces of growth.

Road Wheel Imports

Imports into Sweden

Road wheel imports into Sweden shrank to X tons in 2022, with a decrease of -1.5% on the previous year. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 18%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, road wheel imports contracted modestly to $X in 2022. The total import value increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 32%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons) constituted the largest road wheel supplier to Sweden, accounting for a 42% share of total imports. Moreover, road wheel imports from Germany exceeded the figures recorded by the second-largest supplier, the UK (X tons), fourfold. The third position in this ranking was held by Turkey (X tons), with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+44.4% per year) and Turkey (+26.6% per year).

In value terms, Germany ($X) constituted the largest supplier of road wheels to Sweden, comprising 46% of total imports. The second position in the ranking was held by Hungary ($X), with a 7.7% share of total imports. It was followed by the UK, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+8.8% per year) and the UK (+35.7% per year).

Import Prices by Country

The average road wheel import price stood at $X per ton in 2022, approximately mirroring the previous year. Over the period under review, the import price recorded modest growth. The most prominent rate of growth was recorded in 2021 an increase of 12% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Turkey ($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 (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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