Rock drilling and earth boring tools market in Sweden

Earlier Report Observations

Following the COVID-19 pandemic's impact on global supply chains in 2020, the Swedish market for rock drilling and earth boring tools experienced a sharp rise in 2021. Market volume in physical terms increased from 9 426 t to 23 241 t, more than doubling. This surge was driven by the rapid adoption of automated and smart tools integrating IoT and artificial intelligence, which enhanced drilling precision and efficiency. Technological advances that began in 2019 led to a significant production increase from 13 565 t to 27 276 t in 2021.

In 2022, market growth moderated, reaching 24 498 t, 5% above the previous year. Preparations for major regulatory reforms in the construction sector, including new building rules and energy performance directives scheduled for 2024-2025, created expectations of future changes, influencing demand. Simultaneously, the ongoing focus on sustainability and electrification encouraged the development of environmentally friendly tools.

After 2022, the market continued to evolve under new regulations, such as the introduction of financial security requirements for mining operations in August 2024, and strong performance from key players. For instance, Epiroc reported record order intake and revenues in 2024, with electrification accounting for 4.2% of revenue, reflecting the industry's technological shift.

Production rock drilling and earth boring tools in Sweden

In value, 2017-2020, M $ US

Annual dynamics of production in Sweden in value, 2017-2020, M $ US

In kind, 2017-2020, t

Annual dynamics of production in Sweden in kind, 2017-2020, t

Exports rock drilling and earth boring tools from Sweden

Exports in kind, t

Sweden's exports of rock drilling and earth boring tools have been declining for three years in a row. In 2020, exports reached 7 182 tonnes, marking a moderate decrease of 4.3% compared to the previous year. Looking at the period from 2017 to 2020, exports fell by 13.1%, which translates to an average annual decline of 4.6%.

Annual dynamics of product's exports from Sweden in kind, 2017-2020, t

From 2017 to 2020, Australia, the United States, and South Africa were significant but not dominant buyers of rock drilling and earth boring tools from Sweden. Australia accounted for 16.2% of exports in kind, the United States for 11.2%, and South Africa for 10.0%. Together, these three countries represented 37.4% of total exports in kind, with the majority of exports going to other partners.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Sweden in kind, 2017-2020

Exports in value, M $ US

Following two years of growth, Sweden's exports of rock drilling and earth boring tools in value terms declined. In 2020, exports totaled 221.7 million US dollars, a 9.0% drop from the year before. The peak value was recorded in 2019 at 243.5 million US dollars, while the largest increase occurred in 2018 with a 9.5% rise.

Annual dynamics of product's exports from Sweden in value, 2017-2020, M $ US

During the 2017–2020 period, Australia, South Africa, and the United States were key buyers of rock drilling and earth boring tools from Sweden in value terms. Australia made up 14.3% of exports, South Africa 9.5%, and the United States 9.1%. Their combined share reached 32.9% of total exports in value, leaving 67.1% distributed among numerous other trading partners.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Sweden in value, 2017-2020

Imports rock drilling and earth boring tools to Sweden

Imports in kind, t

After two years of decline, Sweden's imports of rock drilling and earth boring tools in kind increased. In 2020, imports amounted to 3 043 tonnes, showing a modest rise of 6.9% year-over-year. Over the 2017–2020 period, imports decreased by 24.3%, equivalent to an average annual decline of 8.9%. The lowest point was in 2019 at 2 846 tonnes, with the largest drop of 28.7% also occurring that year.

Annual dynamics of product's imports to Sweden in kind, 2017-2020, t

From 2017 to 2020, Austria, Finland, and Germany were the primary sources for Sweden's imports of rock drilling and earth boring tools in kind. Austria contributed 28.6% of imports, Finland 16.8%, and Germany 11.8%. Together, these three countries accounted for 57.2% of total import flows in kind.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Sweden in kind, 2017-2020

Imports in value, M $ US

Sweden's imports of rock drilling and earth boring tools in value terms increased in 2020, totaling 37.1 million US dollars, which is an 8.1% rise from the previous year. Between 2017 and 2020, imports fell by 25.2%, averaging a 9.2% annual decline. The minimum value was recorded in 2019 at 37.1 million US dollars, while the maximum was in 2018 at 55.2 million US dollars. The sharpest decline of 32.8% took place in 2019.

Annual dynamics of product's imports to Sweden in value, 2017-2020, M $ US

Over the 2017–2020 period, the United States, Finland, and India were the main destinations for Sweden's imports of rock drilling and earth boring tools in value terms. The United States accounted for 20.9% of imports, Finland for 20.7%, and India for 13.0%. Collectively, these three countries absorbed 54.5% of total imports in value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Sweden in value, 2017-2020