Norway: Trailer And Semi-Trailer Market 2024

Trailer And Semi-Trailer Market Size in Norway

In 2022, the Norwegian trailer and semi-trailer market increased by 20% to $X, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Trailer and semi-trailer consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Trailer And Semi-Trailer Production in Norway

In value terms, trailer and semi-trailer production expanded markedly to $X in 2022 estimated in export price. In general, the total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +48.6% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 38%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Trailer And Semi-Trailer Exports

Exports from Norway

In 2022, after two years of growth, there was significant decline in overseas shipments of cargo trailers and semi-trailers, when their volume decreased by -20.3% to X units. In general, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2018 when exports increased by 66% against the previous year. The exports peaked at X units in 2021, and then declined dramatically in the following year.

In value terms, trailer and semi-trailer exports shrank notably to $X in 2022. Overall, exports recorded a noticeable setback. The pace of growth appeared the most rapid in 2020 with an increase of 66%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Sweden (X units) was the main destination for trailer and semi-trailer exports from Norway, accounting for a 51% share of total exports. Moreover, trailer and semi-trailer exports to Sweden exceeded the volume sent to the second major destination, Estonia (X units), threefold. Serbia (X units) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden amounted to +13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+10.9% per year) and Serbia (+71.6% per year).

In value terms, Sweden ($X) remains the key foreign market for cargo trailers and semi-trailers exports from Norway, comprising 56% of total exports. The second position in the ranking was held by Estonia ($X), with an 11% share of total exports. It was followed by the Netherlands, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+10.2% per year) and the Netherlands (-5.0% per year).

Export Prices by Country

In 2022, the average trailer and semi-trailer export price amounted to $X per unit, with a decrease of -6.8% against the previous year. Over the period under review, the export price saw a abrupt contraction. The pace of growth appeared the most rapid in 2015 when the average export price increased by 60% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Serbia ($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 Estonia (-0.6%), while the prices for the other major destinations experienced a decline.

Trailer And Semi-Trailer Imports

Imports into Norway

In 2022, purchases abroad of cargo trailers and semi-trailers increased by 4.6% to X units, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 29% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, trailer and semi-trailer imports totaled $X in 2022. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 22%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Poland (X units), Estonia (X units) and the UK (X units) were the main suppliers of trailer and semi-trailer imports to Norway, with a combined 60% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +20.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Poland ($X) and Finland ($X) constituted the largest trailer and semi-trailer suppliers to Norway, together accounting for 49% of total imports. Sweden, Denmark, the UK, Estonia, China and Slovakia lagged somewhat behind, together accounting for a further 35%.

China, with a CAGR of +11.8%, recorded the highest growth rate of the value of imports, among the main suppliers 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 trailer and semi-trailer import price amounted to $X per unit, increasing by 4.9% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 8%. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the average import prices remained 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 Finland ($X per unit), while the price for Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform