Scandinavia: Market for Electronic Instruments And Machines For Measuring Geometrical Quantities 2022

Market Size for Electronic Instruments And Machines For Measuring Geometrical Quantities in Scandinavia

After four years of growth, the Scandinavia geometrical quantities electronic measurer market decreased by -9.8% to $X in 2021. The total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +34.6% against 2016 indices. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Production of Electronic Instruments And Machines For Measuring Geometrical Quantities in Scandinavia

In value terms, geometrical quantities electronic measurer production dropped to $X in 2021 estimated in export price. The total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +51.6% against 2017 indices. The pace of growth was the most pronounced in 2020 with an increase of 36% against the previous year. As a result, production attained the peak level of $X, and then reduced in the following year.

Exports of Electronic Instruments And Machines For Measuring Geometrical Quantities

Exports in Scandinavia

In 2021, overseas shipments of electronic instruments and machines for measuring geometrical quantities increased by 13% to X units for the first time since 2018, thus ending a two-year declining trend. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 14% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, geometrical quantities electronic measurer exports expanded significantly to $X in 2021. The total export value increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 16% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

Denmark (X units) and Sweden (X units) represented the major exporters of electronic instruments and machines for measuring geometrical quantities in 2021, reaching approx. 42% and 40% of total exports, respectively. It was distantly followed by Finland (X units), constituting a 14% share of total exports. Norway (X units) held a minor share of total exports.

From 2012 to 2021, the biggest increases were in Finland (with a CAGR of +9.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest geometrical quantities electronic measurer supplying countries in Scandinavia were Finland ($X), Denmark ($X) and Sweden ($X), with a combined 90% share of total exports.

Among the main exporting countries, Finland, with a CAGR of +6.8%, recorded 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 export price in Scandinavia stood at $X per unit in 2021, reducing by -2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2013 when the export price increased by 16%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Norway ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+2.4%), while the other leaders experienced a decline in the export price figures.

Imports of Electronic Instruments And Machines For Measuring Geometrical Quantities

Imports in Scandinavia

Geometrical quantities electronic measurer imports skyrocketed to X units in 2021, increasing by 19% against the previous year's figure. The total import volume increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, geometrical quantities electronic measurer imports surged to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 27% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

Imports by Country

Sweden (X units) and Denmark (X units) represented roughly 77% of total imports in 2021. It was distantly followed by Finland (X units), making up a 20% share of total imports. Norway (X units) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Denmark (with a CAGR of +10.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest geometrical quantities electronic measurer importing markets in Scandinavia were Sweden ($X), Denmark ($X) and Norway ($X), with a combined 84% share of total imports.

Among the main importing countries, Sweden, with a CAGR of +7.8%, saw the highest growth rate of 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 2021, the import price in Scandinavia amounted to $X per unit, reducing by -2.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2018 when the import price increased by 26%. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Norway ($X per unit), while Denmark ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+6.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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