Sweden: Steel Spring Market 2022

Steel Spring Market Size in Sweden

In 2021, the Swedish steel spring market decreased by -2.7% to $X, falling for the third consecutive year after three years of growth. Over the period under review, consumption recorded a noticeable curtailment. Steel spring consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Steel Spring Production in Sweden

In value terms, steel spring production rose markedly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2017 with an increase of 27% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Steel Spring Exports

Exports from Sweden

In 2021, shipments abroad of steel springs and leaves for springs was finally on the rise to reach X tons after two years of decline. In general, total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, steel spring exports surged to $X in 2021. The total export value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for steel spring exports from Sweden, accounting for a 63% share of total exports. Moreover, steel spring exports to Germany exceeded the volume sent to the second major destination, the UK (X tons), sevenfold. The third position in this ranking was taken by Russia (X tons), with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume to Germany amounted to +18.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-2.1% per year) and Russia (-2.7% per year).

In value terms, Germany ($X) remains the key foreign market for steel spring exports from Sweden, comprising 29% of total exports. The second position in the ranking was held by Norway ($X), with an 8.8% share of total exports. It was followed by the UK, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-0.3% per year) and the UK (-0.9% per year).

Export Prices by Country

In 2021, the average steel spring export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the export price recorded a pronounced descent. The most prominent rate of growth was recorded in 2020 an increase of 12% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Norway ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Spring Imports

Imports into Sweden

In 2021, after two years of decline, there was significant growth in purchases abroad of steel springs and leaves for springs, when their volume increased by 20% to X tons. In general, imports, however, showed a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, steel spring imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 23%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

France (X tons), Austria (X tons) and the UK (X tons) were the main suppliers of steel spring imports to Sweden, with a combined 47% share of total imports. These countries were followed by Poland, Germany, Spain, Finland, the Czech Republic, Romania, Belgium and the Netherlands, which together accounted for a further 43%.

From 2012 to 2021, the biggest increases were in Finland (with a CAGR of +25.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), Germany ($X) and Poland ($X) appeared to be the largest steel spring suppliers to Sweden, with a combined 51% share of total imports.

Austria, with a CAGR of +25.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average steel spring import price amounted to $X per ton, rising by 2.1% against the previous year. Over the last nine years, it increased at an average annual rate of +3.7%. The most prominent rate of growth was recorded in 2017 an increase of 10%. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Belgium ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+15.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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