Scandinavia: Power Tool Market 2024

Power Tool Market Size in Scandinavia

The Scandinavia power tool market shrank to $X in 2022, with a decrease of X% against the previous year. Overall, consumption saw a mild shrinkage. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Power Tool Production in Scandinavia

In value terms, power tool production contracted remarkably to $X in 2022 estimated in export price. In general, production, however, continues to indicate strong growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Power Tool Exports

Exports in Scandinavia

In 2023, the amount of power tools exported in Scandinavia was estimated at X units, with an increase of X% against the previous year's figure. Over the period under review, exports, however, recorded a mild decrease. The growth pace was the most rapid in 2017 when exports increased by X%. The volume of export peaked at X units in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

In value terms, power tool exports expanded rapidly to $X in 2023. In general, exports, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

Exports by Country

Sweden dominates exports structure, reaching X units, which was near X% of total exports in 2023. Finland (X units) ranks second in terms of the total exports with a X% share, followed by Norway (X%).

Sweden was also the fastest-growing in terms of the power tools exports, with a CAGR of X% from 2012 to 2023. Norway experienced a relatively flat trend pattern. Finland (X%) illustrated a downward trend over the same period. While the share of Sweden (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Finland (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest power tool supplier in Scandinavia, comprising X% of total exports. The second position in the ranking was held by Finland ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Sweden was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (X% per year) and Norway (X% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2023, growing by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by X%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Finland ($X per unit), while Norway ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Finland (X%), while the other leaders experienced a decline in the export price figures.

Power Tool Imports

Imports in Scandinavia

In 2023, supplies from abroad of power tools decreased by X% to X units, falling for the second consecutive year after two years of growth. Over the period under review, imports recorded a mild setback. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Over the period under review, imports reached the peak figure at X units in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, power tool imports reduced remarkably to $X in 2023. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Sweden was the largest importer of power tools in Scandinavia, with the volume of imports recording X units, which was near X% of total imports in 2023. It was distantly followed by Norway (X units) and Finland (X units), together generating a X% share of total imports.

Sweden was also the fastest-growing in terms of the power tools imports, with a CAGR of X% from 2012 to 2023. Norway (X%) and Finland (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Sweden increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest power tool importing markets in Scandinavia were Sweden ($X), Norway ($X) and Finland ($X).

Sweden, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2023, the import price in Scandinavia amounted to $X per unit, rising by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Norway ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Finland (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform