Sweden: Sewing Machine Needle Market 2024

Sewing Machine Needle Market Size in Sweden

The Swedish sewing machine needle market fell to $X in 2022, declining by -8.2% against the previous year. Overall, consumption, however, recorded a modest increase. Sewing machine needle consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Sewing Machine Needle Production in Sweden

In value terms, sewing machine needle production amounted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2015 with an increase of 30%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Sewing Machine Needle Exports

Exports from Sweden

In 2022, overseas shipments of sewing machine needles decreased by -18% to X units, falling for the second consecutive year after four years of growth. Overall, exports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 173% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, sewing machine needle exports declined dramatically to $X in 2022. In general, exports recorded a slight decrease. The pace of growth was the most pronounced in 2020 when exports increased by 110% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Norway (X units), Denmark (X units) and the United States (X units) were the main destinations of sewing machine needle exports from Sweden, with a combined 87% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +81.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sewing machine needle exported from Sweden were Norway ($X), Denmark ($X) and the United States ($X), together accounting for 87% of total exports.

Among the main countries of destination, the United States, with a CAGR of +66.8%, saw the highest growth rate of 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 sewing machine needle export price stood at $X per thousand units in 2022, falling by -16.5% against the previous year. Overall, the export price, however, enjoyed a mild increase. The pace of growth appeared the most rapid in 2021 when the average export price increased by 62%. The export price peaked at $X per thousand units in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Switzerland ($X per thousand units) and the United States ($X per thousand units), while the average price for exports to China ($X per thousand units) and the UK ($X per thousand units) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+26.7%), while the prices for the other major destinations experienced more modest paces of growth.

Sewing Machine Needle Imports

Imports into Sweden

After two years of growth, supplies from abroad of sewing machine needles decreased by -46.6% to X units in 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 51% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, sewing machine needle imports reduced to $X in 2022. Over the period under review, imports continue to indicate a mild decline. The pace of growth was the most pronounced in 2016 with an increase of 12%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X units) constituted the largest sewing machine needle supplier to Sweden, accounting for a 50% share of total imports. Moreover, sewing machine needle imports from Germany exceeded the figures recorded by the second-largest supplier, Denmark (X units), threefold. The third position in this ranking was taken by Vietnam (X units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+30.1% per year) and Vietnam (+76.1% per year).

In value terms, Germany ($X) constituted the largest supplier of sewing machine needles to Sweden, comprising 50% of total imports. The second position in the ranking was held by Denmark ($X), with a 15% share of total imports. It was followed by Vietnam, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled -5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+29.0% per year) and Vietnam (+104.4% per year).

Import Prices by Country

The average sewing machine needle import price stood at $X per thousand units in 2022, picking up by 71% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per thousand units in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Vietnam ($X per thousand units) and India ($X per thousand units), while the price for China ($X per thousand units) and Germany ($X per thousand units) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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