Sweden: Market for Pneumatic Or Hydraulic Hand Tools 2023

Market Size for Pneumatic Or Hydraulic Hand Tools in Sweden

In 2021, after two years of growth, there was significant decline in the Swedish market for pneumatic or hydraulic hand tools, when its value decreased by -22.3% to $X. In general, consumption recorded a abrupt slump. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Production of Pneumatic Or Hydraulic Hand Tools in Sweden

In value terms, pneumatic or hydraulic hand tool production rose to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 3.3% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Exports of Pneumatic Or Hydraulic Hand Tools

Exports from Sweden

In 2021, after two years of decline, there was significant growth in overseas shipments of pneumatic or hydraulic hand tools, when their volume increased by 20% to X tons. The total export volume increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, pneumatic or hydraulic hand tool exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), Germany (X tons) and Norway (X tons) were the main destinations of pneumatic or hydraulic hand tool exports from Sweden, with a combined 40% share of total exports. The Czech Republic, China, the UK, Denmark, Finland, Spain, Australia, Italy, Canada and Turkey lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +11.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and Norway ($X) appeared to be the largest markets for pneumatic or hydraulic hand tool exported from Sweden worldwide, together accounting for 45% of total exports.

Germany, with a CAGR of +9.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for pneumatic or hydraulic hand tools amounted to $X per ton, picking up by 4.8% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 19% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to the Czech Republic ($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 Denmark (+1.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Pneumatic Or Hydraulic Hand Tools

Imports into Sweden

In 2021, supplies from abroad of pneumatic or hydraulic hand tools increased by 13% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, recorded a mild decline. The most prominent rate of growth was recorded in 2014 when imports increased by 16%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, pneumatic or hydraulic hand tool imports soared to $X in 2021. In general, imports, however, saw a relatively flat trend pattern. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest pneumatic or hydraulic hand tool supplier to Sweden, accounting for a 37% share of total imports. Moreover, pneumatic or hydraulic hand tool imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.6% per year) and the United States (-7.9% per year).

In value terms, the largest pneumatic or hydraulic hand tool suppliers to Sweden were Germany ($X), China ($X) and the United States ($X), together comprising 58% of total imports. These countries were followed by the Netherlands, Taiwan (Chinese), Belgium, Italy, Denmark, Poland, Japan, Finland, France and Norway, which together accounted for a further 37%.

Poland, with a CAGR of +65.9%, 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 import price for pneumatic or hydraulic hand tools amounted to $X per ton, increasing by 8.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 11% against the previous year. Over the period under review, average import prices reached the maximum 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, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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