Sweden: Market for Steering Wheels, Steering Columns And Steering Boxes 2024

Market Size for Steering Wheels, Steering Columns And Steering Boxes in Sweden

In 2022, the Swedish steering wheels and columns market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption showed strong growth. Steering wheels and columns consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Steering Wheels, Steering Columns And Steering Boxes in Sweden

In value terms, steering wheels and columns production rose markedly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 24%. Steering wheels and columns production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports from Sweden

In 2022, overseas shipments of steering wheels, steering columns and steering boxes increased by 12% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +2.1% 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 when exports increased by 15% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, steering wheels and columns exports contracted modestly to $X in 2022. The total export value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of 26% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Belgium (X tons), France (X tons) and Germany (X tons) were the main destinations of steering wheels and columns exports from Sweden, with a combined 50% share of total exports. The United States, Brazil, Australia, Norway, the UK, Finland, the Netherlands and the Czech Republic lagged somewhat behind, together comprising a further 40%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +24.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), France ($X) and Germany ($X) were the largest markets for steering wheels and columns exported from Sweden worldwide, with a combined 43% share of total exports. The United States, Brazil, Norway, the UK, Finland, Australia, the Netherlands and the Czech Republic lagged somewhat behind, together accounting for a further 42%.

In terms of the main countries of destination, the Czech Republic, with a CAGR of +25.8%, 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

In 2022, the average steering wheels and columns export price amounted to $X per ton, reducing by -12% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 21%. The export price peaked at $X per ton in 2021, and then reduced in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Brazil ($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 UK (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports into Sweden

In 2022, approx. X tons of steering wheels, steering columns and steering boxes were imported into Sweden; picking up by 10% against the previous year. Over the period under review, total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.0% against 2020 indices. The growth pace was the most rapid in 2016 when imports increased by 17% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, steering wheels and columns imports fell to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by +0.5% against 2020 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 26%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Hungary (X tons) constituted the largest steering wheels and columns supplier to Sweden, accounting for a 38% share of total imports. Moreover, steering wheels and columns imports from Hungary exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by France (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Hungary totaled +39.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.1% per year) and France (-3.6% per year).

In value terms, Hungary ($X) constituted the largest supplier of steering wheels, steering columns and steering boxes to Sweden, comprising 47% of total imports. The second position in the ranking was taken by Germany ($X), with a 13% share of total imports. It was followed by France, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value from Hungary stood at +49.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-7.1% per year) and France (-5.3% per year).

Import Prices by Country

In 2022, the average steering wheels and columns import price amounted to $X per ton, shrinking by -17.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2017 an increase of 9.8%. Over the period under review, average import prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Finland ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+32.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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