Norway: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Norway

The Norwegian air conditioning machine market stood at $X in 2021, rising by 4.2% against the previous year. The market value increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Air conditioning machine consumption peaked in 2021 and is expected to retain growth in years to come.

Air Conditioning Machine Production in Norway

In value terms, air conditioning machine production rose markedly to $X in 2021 estimated in export price. Overall, production recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 when the production volume increased by 17%. Air conditioning machine production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Air Conditioning Machine Exports

Exports from Norway

After two years of growth, shipments abroad of air conditioning machines decreased by -22.6% to X units in 2021. In general, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 53%. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, air conditioning machine exports fell dramatically to $X in 2021. Over the period under review, exports continue to indicate a deep setback. The growth pace was the most rapid in 2014 when exports increased by 26%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Sweden (X units) was the main destination for air conditioning machine exports from Norway, accounting for a 36% share of total exports. Moreover, air conditioning machine exports to Sweden exceeded the volume sent to the second major destination, the Czech Republic (X units), threefold. The third position in this ranking was held by Romania (X units), with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sweden stood at -19.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+105.7% per year) and Romania (+21.8% per year).

In value terms, the largest markets for air conditioning machine exported from Norway were Romania ($X), Turkey ($X) and Sweden ($X), together accounting for 45% of total exports.

Turkey, with a CAGR of +86.5%, recorded the highest rates of growth with regard to the value of exports, among 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

The average air conditioning machine export price stood at $X per unit in 2021, waning by -31.5% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, air conditioning machine export price decreased by -36.7% against 2018 indices. The pace of growth appeared the most rapid in 2015 an increase of 98% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2016 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Spain ($X per unit), while the average price for exports to the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Air Conditioning Machine Imports

Imports into Norway

After three years of growth, supplies from abroad of air conditioning machines decreased by -0.1% to X units in 2021. Overall, imports, however, posted a buoyant increase. The growth pace was the most rapid in 2019 when imports increased by 44% against the previous year. Imports peaked at X units in 2020, and then fell modestly in the following year.

In value terms, air conditioning machine imports rose markedly to $X in 2021. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when imports increased by 12%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

China (X units), Thailand (X units) and Sweden (X units) were the main suppliers of air conditioning machine imports to Norway, with a combined 72% share of total imports. Malaysia, Finland, Lithuania, Italy and Japan lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2021, the biggest increases were in Finland (with a CAGR of +19.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest air conditioning machine suppliers to Norway were Sweden ($X), Thailand ($X) and China ($X), with a combined 57% share of total imports. Italy, Malaysia, Lithuania, Finland and Japan lagged somewhat behind, together accounting for a further 24%.

Among the main suppliers, Finland, with a CAGR of +11.3%, saw 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 air conditioning machine import price stood at $X per unit in 2021, rising by 5.6% against the previous year. In general, the import price, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2017 when the average import price increased by 21%. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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