Industry Focus >>SwedenFastening Tools Analysis

瑞典緊固工具分析

Supporting Economic Growth
The fastening tools industry plays a vital role in
Sweden's economy. It not only creates jobs but also
contributes significantly to the country's export
revenue. Swedish fastening tool manufacturers
are known for their high-quality products which
are sought after globally. With an emphasis on
innovation and sustainability, Sweden's fastening
tools i ndust r y rema i ns compet it ive i n t heinternational market. Swedish tools are trustedfor their precision and reliability, driving
demand worldwide.
The following is the trend of Sweden's imported
fastening tools (see Table 1).

Year 2018:
In 2018, the total exports to Sweden amounted
to $221,645,000 USD. Germany held the dominantmarket share at approximately 29.02%, making
it the leading exporter. China, the U.S., andseveral other countries also had significant shares,
contributing to a diversified export landscape.
1.
2.
3.

Germany (29.02%)
China (7.72%)
U.S.A (6.39%)

Year 2019:

Sweden, known for its impeccable engineering, innovation, and commitment
to sustainability, has a thriving fastening tools industry. These tools play a crucialrole in various sectors, including construction, manufacturing, and automotiveindustries. In this article, we will delve into the situation of fastening tools in
Sweden, exploring the latest innovations, sustainable practices, and the industry'scontribution to the country's economy. Innovation is at the core of Sweden fastening
tools. Sweden has a long history of engineering excellence, and this extends to thefastening tools industry. Swedish companies are renowned for their innovative
approach to tool design and manufacturing. From the iconic Swedish adjustablewrench to advanced cordless impact drivers, Sweden continues to push theboundaries of fastening technology. One prominent example of Swedish innovationin fastening tools is the development of intelligent torque control systems. Thesesystems allow for precise tightening of bolts and screws, reducing the risk of overtightening or under-tightening, which can lead to equipment failures and safety
hazards. Swedish companies have also embraced digitalization, offering tools with
Bluetooth connectivity and mobile apps for real-time monitoring and control.
Sustainability is the driving force in Sweden fastening tools industry, therefore;
sustainability is a core value in Sweden, and the fastening tools industry is noexception. Swedish manufacturers are increasingly adopting sustainable
practices in the production of their tools. This includes using eco-friendly
materials, reducing energy consumption, and minimizing waste. One
significant trend in the fastening tools industry is the shift towards battery-poweredtools. Lithium-ion batteries have become more efficient and environmentallyfriendly, reducing the reliance on fossil fuels and lowering carbon emissions. Thistransition aligns with Sweden's commitment to reducing its carbon footprint andachieving a greener future. Moreover, companies are designing tools for longevity,emphasizing durability and repairability. This not only reduces the need for
frequent replacements but also contributes to a circular economy by extending thelife of products.

1.
2.
3.

Germany (27.80%)
China (9.28%)
The Netherlands (6.40%)

Year 2020:
In 2020, exports to Sweden amounted to$184,692,000 USD. Despite a decrease in totalexports, Germany remained the leading exporter,
though its market share decreased to 26.40%. TheNetherlands saw a significant increase in market
share, becoming the second-largest exporter, while
China continued to strengthen its position.
1.
2.
3.

Germany (26.40%)
The Netherlands (11.34%)
China (9.38%)

Year 2021:
Exports to Sweden rebounded in 2021, reaching$233,579,000 USD. Germany maintained its top
position, but its market share remained stable
at around 26.38%. The Netherlands and China
continued their growth trajectory, solidifying theirpositions as key players in the Swedish market.
1.
2.
3.

Germany (26.38%)
China (10.68%)
The Netherlands (10.00%)
惠達雜誌

Hardware & Fastener Components - no.60/2023

Introduction

The total export to Sweden in 2019 slightly
decreased to $194,353,0 0 0 USD. G er ma ny
maintained its position as the top exporter, with amarket share of approximately 27.80%. Notably, theNetherlands and China both experienced growthin their market shares, indicating an expanding
presence in the Swedish market.

109

Industry Focus >>Year 2022:
In 2022, total exports to Sweden amounted to$223,578,000 USD. The Netherlands experienced
remarkable growth in market share, surpassing
Germany to become the leading exporter with ashare of approximately 12.68%. China, while still
growing, held the third position but remained asignificant contributor to Sweden's imports.
1.
2.
3.

•

2020

2021

2022

184,692

233,579

223,578

Germany

64,30754,02948,747

61,61660,305

Netherlands

12,851

12,451

20,95023,35628,389China

17,11918,023

17,34424,94826,238USA

14,165

11,497

12,86017,987

14,630Finland12,373

9,146

7,416

10,242

10,319Austria

12,703

10,6409,311

10,63910,232

Denmark

11,332

10,306

9,520

9,840

10,225

Table 2. Sweden's Export Value of Fastening Tools (In USD 1,000)

South Africa

21,19325,14423,60933,00530,994

Norway25,94025,901

26,43531,32528,549Canada20,00821,084

13,91019,28423,096•

Diverse Market Landscape: Sweden's
imports were not overly reliant on any
single country, indicating a diverseand competitive supplier base.

Year 2018:

Hardware & Fastener Components - no.60/2023

2019
194,353

T h e Ne t h e r l an d s' S ur g e: T h e
Netherlands witnessed substantial
growth in its market share, reflecting
its increasing importance as a sourceof imports for Sweden.

The following is the trend of Sweden's
exported fastening tools. (see Table 2)

110

2018
221,645

Importers

China's Ascendance: China's market
share steadily grew over the years,positioning it as a prominent player in
Sweden's import market.

In 2018, Sweden's total exports to the world
amounted to $350,167,000 USD. Australia
emerged as the leading importer with a market
share of approximately 9.71%, closely followedby the U.S.A and Norway. This diversified setof importers demonstrated Sweden's ability toaccess various global markets.
Australia (9.71%)
U.S.A (9.66%)
Norway (7.40%)

Year 2019:
In 2019, Sweden's exports continued togrow, reaching $353,122,000 USD. Australia
maintained its position as the top importer,
reflecting strong trade relations. Meanwhile, theU.S., South Africa, and Norway also continued
to be significant importers, underlining Sweden'sglobal reach.
1.
2.
3.

World

Germany's Consistency: Germany
consistently held the largest market
share, showcasing its reliability as a
trading partner with Sweden.

•1.
2.
3.

Exports to Sweden

Germany (26.98%)
The Netherlands (12.68%)
China (11.75%)

Overall, this five-year analysis reveals
several noteworthy trends:•Table 1. Sweden's Import Value of Fastening Tools (In USD 1,000)

Australia (10.54%)
U.S.A (8.75%)
South Africa (7.12%)

惠達雜誌

2018

2019

2020

2021

2022

World

350,167

353,122302,636

347,574

349,236

USA

33,79630,92325,53629,81642,328Australia

34,02037,23337,18945,80736,667

Year 2020:
The year 2020 brought some fluctuations in Sweden's exports, with a total valueof $302,636,000 USD. Australia maintained its leading position in imports fromSweden. Notably, the U.S. saw a slight decrease in market share, while Norway andCanada remained key importers, though Canada's share notably decreased.
1.
2.
3.

Australia (12.29%)
U.S.A (8.45%)
Norway (8.73%)

Year 2021:
In 2021, Sweden's exports increased to $347,574,000 USD. Australia retained its
position as the leading importer, emphasizing its strong trade ties with Sweden. TheU.S. experienced a resurgence in market share, becoming the second-largest importer,
followed by South Africa and Norway, which maintained their significant roles.
1.
2.
3.

Australia (13.17%)
South Africa (9.49%)
Norway (9.01%)

Year 2022:
The year 2022 saw Sweden's total exports amounting to $349,236,000 USD.
The U.S. emerged as the leading importer, with a notable increase in market share.
Australia, although still a significant importer, experienced a decrease in market
share. South Africa and Norway also remained important destinations for Sweden'sexports, contributing to the country's global trade network.
1.
2.
3.

U.S.A (12.13%)
Australia (10.50%)
South Africa (8.88%)

In summary, this five-year analysis provides valuable insights into Sweden's
export destinations and changing market dynamics:•

Australia's Consistency: Australia consistently held a significant share of
Sweden's exports, emphasizing the strong trade relations between thetwo countries.

•United States' Resurgence: The U.S. saw its market share grow over theyears, becoming the leading importer in 2022.

•Diverse Importer Base: Sweden's exports were well-diversified among

Industry Focus >>countries, highlighting its ability
to access various global markets.
••

South Africa's Steady Growth:South Africa maintained steadygrow th in its market share,
demonstrating its increasing rolein Sweden's export landscape.
Norway's Stable Role: Norway
consistently played a significant
role as an importer, reflecting its
close economic ties with Sweden.

Conclusion and the Future ofSweden Fastening Tools

Table 3. Fastening Tool Trade with Sweden in the World(Value in USD 1,000)

World's Export toSweden
World's Importfrom Sweden

Jan-23

Feb-23Mar-23Apr-23May-23

21,16120,228

22,845

19,207

23,63629,30729,54534,77825,45428,728•September 2023: $30,700,000 USD•

November 2023: $31,200,000 USD•October 2023: $30,950,000 USD•

December 2023: $31,450,000 USD

This forecast reflects a reasonably steady uptrend in global imports from Sweden
throughout the latter half of the year.
Copyright owned by Fastener World / Article by Sharareh Shahidi Hamedani

Table 3 shows the fastening tool tradewith Sweden in the world.
In conclusion, as we delve into thesecond half of 2023, it's prudent to makesome informed speculations about thetrade dynamics between Sweden and theworld. Drawing upon data from the initial
five months of the year, we can discern
certain trends that allow us to anticipate thedirection in which global trade with Sweden
may be headed. However, it's important toemphasize that these estimates are subject
to change based on real-world economic
conditions and unforeseen events.

World Exports to Sweden•

June 2023: $23,000,000 USD•July 2023: $23,200,000 USD•August 2023: $23,400,000 USD•September 2023: $23,600,000 USD•October 2023: $23,800,000 USD•November 2023: $24,000,000 USD•December 2023: $24,200,000 USD

Hardware & Fastener Components - no.60/2023

Analysing the data f rom the f irst
five months of 2023, we observe somefluctuations in trade values. Nevertheless,assuming a moderately ascending trajectory,
we can extrapolate the following monthly
approximate export values for the remainderof the year:

These projections provide a tentative
outlook on the potential growth in global
export to Sweden during the latter half ofthe year.

World Imports from SwedenSimilarly, examining data from the first
five months of 2023, we anticipate a gradualexpansion in imports from Sweden for therest of the year:•June 2023: $29,950,000 USD•July 2023: $30,200,000 USD•August 2023: $30,450,000 USD惠達雜誌111