Sweden: Market for Toothed wheels, chain sprockets and other transmission elements 2024

Market Size for Toothed wheels, chain sprockets and other transmission elements in Sweden

After two years of decline, the Swedish market for toothed wheels, chain sprockets and other transmission elements increased by 39% to $X in 2021. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Consumption of peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Toothed wheels, chain sprockets and other transmission elements in Sweden

In value terms, production of toothed wheels, chain sprockets and other transmission elements rose markedly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -18.9% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of 56% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production of growth remained at a lower figure.

Exports of Toothed wheels, chain sprockets and other transmission elements

Exports from Sweden

In 2021, approx. X tons of toothed wheels, chain sprockets and other transmission elements were exported from Sweden; picking up by 3.2% on the previous year. Overall, exports, however, showed a noticeable slump. The most prominent rate of growth was recorded in 2019 with an increase of 57%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of toothed wheels, chain sprockets and other transmission elements soared to $X in 2021. In general, total exports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +64.7% against 2017 indices. The pace of growth appeared the most rapid in 2019 when exports increased by 35%. Over the period under review, the exports of reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Brazil (X tons) was the main destination for exports of toothed wheels, chain sprockets and other transmission elements from Sweden, with a 31% share of total exports. Moreover, exports of toothed wheels, chain sprockets and other transmission elements to Brazil exceeded the volume sent to the second major destination, France (X tons), twofold. Denmark (X tons) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Brazil totaled +16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-16.5% per year) and Denmark (+8.5% per year).

In value terms, Brazil ($X), the Netherlands ($X) and France ($X) constituted the largest markets for toothed wheels, chain sprockets and other transmission elements exported from Sweden worldwide, together accounting for 35% of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of +26.8%, 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

The average export price for toothed wheels, chain sprockets and other transmission elements stood at $X per ton in 2021, surging by 17% against the previous year. Over the last nine-year period, it increased at an average annual rate of +6.3%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 42% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Japan ($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 Germany (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Toothed wheels, chain sprockets and other transmission elements

Imports into Sweden

In 2021, purchases abroad of toothed wheels, chain sprockets and other transmission elements increased by 30% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, saw a abrupt descent. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, imports of toothed wheels, chain sprockets and other transmission elements soared to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Italy (X tons), Germany (X tons) and India (X tons) were the main suppliers of imports of toothed wheels, chain sprockets and other transmission elements to Sweden, together accounting for 65% of total imports. These countries were followed by France, China, Spain, Denmark, Finland, Hungary, South Korea, the Netherlands, the UK and Austria, which together accounted for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +34.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest toothed wheels, chain sprockets and other transmission elements suppliers to Sweden were Germany ($X), Italy ($X) and Denmark ($X), together comprising 55% of total imports. Spain, China, India, France, the Netherlands, the UK, Finland, Hungary, Austria and South Korea lagged somewhat behind, together accounting for a further 32%.

Among the main suppliers, South Korea, with a CAGR of +25.3%, recorded the highest rates of growth with regard to 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

The average import price for toothed wheels, chain sprockets and other transmission elements stood at $X per ton in 2021, rising by 2.8% against the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for toothed wheels, chain sprockets and other transmission elements increased by +68.3% against 2014 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 25% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for South Korea ($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 (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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