Norway: Circuit Breaker Market 2024

Circuit Breaker Market Size in Norway

In 2022, the Norwegian circuit breaker market decreased by -7.3% to $X for the first time since 2016, thus ending a five-year rising trend. The market value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2021, and then reduced in the following year.

Circuit Breaker Production in Norway

In value terms, circuit breaker production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. Circuit breaker production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Circuit Breaker Exports

Exports from Norway

For the third year in a row, Norway recorded growth in shipments abroad of automatic circuit breakers, which increased by 40% to X units in 2022. Over the period under review, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 107%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, circuit breaker exports soared to $X in 2022. Overall, exports continue to indicate a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden (X units) was the main destination for circuit breaker exports from Norway, accounting for a 42% share of total exports. Moreover, circuit breaker exports to Sweden exceeded the volume sent to the second major destination, Vietnam (X units), fourfold. The third position in this ranking was held by Singapore (X units), with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden stood at +26.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+149.1% per year) and Singapore (+42.8% per year).

In value terms, Sweden ($X), Germany ($X) and Singapore ($X) were the largest markets for circuit breaker exported from Norway worldwide, together accounting for 53% of total exports. Vietnam, Poland, Latvia, Denmark and Lithuania lagged somewhat behind, together comprising a further 22%.

In terms of the main countries of destination, Vietnam, with a CAGR of +95.3%, recorded 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 circuit breaker export price stood at $X per unit in 2022, jumping by 20% against the previous year. Overall, the export price, however, recorded a perceptible shrinkage. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Circuit Breaker Imports

Imports into Norway

After three years of growth, purchases abroad of automatic circuit breakers decreased by -3.1% to X units in 2022. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +72.9% against 2016 indices. The growth pace was the most rapid in 2014 when imports increased by 31% against the previous year. Imports peaked at X units in 2021, and then contracted modestly in the following year.

In value terms, circuit breaker imports contracted to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 21% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Czech Republic (X units), Portugal (X units) and France (X units) were the main suppliers of circuit breaker imports to Norway, with a combined 50% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +226.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Germany ($X) and France ($X) constituted the largest circuit breaker suppliers to Norway, with a combined 42% share of total imports. Romania, Portugal, Italy, Sweden, China, Poland, Slovenia, Bulgaria, Denmark and Austria lagged somewhat behind, together comprising a further 52%.

Among the main suppliers, Portugal, with a CAGR of +102.5%, 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

In 2022, the average circuit breaker import price amounted to $X per unit, falling by -3.6% against the previous year. Overall, the import price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 when the average import price increased by 20%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Bulgaria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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