Tools for milling market in Sweden

Earlier Report Observations

The import value of milling tools into Sweden declined from USD 30.9 million in 2018 to USD 21.3 million in 2020, then partially recovered to USD 27.9 million by 2023 before easing to USD 25.5 million in 2024. Domestic production, with data available from 2020, rose to USD 13.9 million in 2021 but then contracted sharply to USD 4.5 million in 2023 and further to USD 2.3 million in 2024. Consequently, the total market size expanded to USD 30.3 million in 2021 before falling to USD 22.3 million in 2023 and USD 18.2 million in 2024.

In 2019, increased use of 3D printers for rapid production of fixtures and assembly tools began optimizing milling projects, which could influence demand for conventional milling tools. The following year, steelmaker Ovako invested in modernizing a turning line with new cutting, chamfering, and milling equipment, boosting its in-house processing capabilities and likely supporting subsequent production growth. By 2024, new legislative rules in crime prevention and justice introduced indirect safety and compliance requirements for industry, potentially increasing operational costs during a period of market contraction.

Production milling tools in Sweden

In value, 2017-2020, K $ US

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

Exports milling tools from Sweden

Exports in kind, t

The market showed significant volatility during this period. In 2019, exports of milling tools from Sweden reached their peak at 196.9 tonnes, but then dropped sharply to 62.6 tonnes in 2020, marking a 68.2% decline year-on-year. Overall, export volumes varied by a factor of 3.1 between these years, with the largest annual increase of 96.9% occurring in 2019.

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

From 2017 to 2020, Norway, Germany, and the United States were the top buyers of Swedish milling tools by volume, accounting for 23.8%, 12.4%, and 8.8% of total exports respectively. Together, these three countries represented 45.0% of Sweden's export volume, with the remaining 55.0% distributed among numerous smaller trading 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, K $ US

In 2020, the value of milling tools exported from Sweden totaled 6 766 thousand US dollars, reflecting a significant 40.5% decrease compared to the previous year. Over the 2017-2020 period, export values declined by 45.5%, with a compound annual growth rate of -18.3%. The only notable increase during this time was a modest 0.8% rise in 2019.

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

Between 2017 and 2020, Swedish milling tools were exported to a diverse range of markets. The United States was the largest destination by value at 19.3%, followed by Norway at 14.7% and the Netherlands at 11.5%. These three countries together accounted for 45.4% of total export value, while the remaining 54.6% was spread across many smaller markets.

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

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

Imports milling tools to Sweden

Imports in kind, t

Sweden's imports of milling tools declined for the third consecutive year in 2020, reaching 120.4 tonnes. This represented a sharp 28.0% decrease from the previous year. Between 2017 and 2020, import volumes fell by 62.7%, equivalent to an annualized decline rate of 28.0%.

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

From 2017 to 2020, Germany, Denmark, and Luxembourg were the primary sources of milling tools imported into Sweden by volume, accounting for 21.3%, 17.1%, and 16.1% of total imports respectively. Together, these three countries supplied 54.5% of Sweden's import volume during this period.

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, K $ US

Sweden's imports of milling tools declined for the second consecutive year in 2020, totaling approximately 21 303 thousand US dollars. This represented a 17.1% decrease compared to 2019. Over the 2017-2020 period, import values fell by 24.6%, with a compound annual growth rate of -9.0%. The highest import value was recorded in 2018 at 30 952 thousand US dollars, which also saw the largest annual increase of 9.5%.

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

Between 2017 and 2020, three countries dominated Sweden's imports of milling tools by value: Germany, Belgium, and Denmark. Together, these markets accounted for 71.5% of Sweden's total import value for milling tools during this period.

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

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