Norway: Shaft Coupling Market 2024

Shaft Coupling Market Size in Norway

The Norwegian shaft coupling market expanded rapidly to $X in 2022, rising by 6.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Shaft coupling consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Shaft Coupling Exports

Exports from Norway

In 2022, shipments abroad of clutches and shaft couplings decreased by -27.5% to X tons, falling for the third consecutive year after two years of growth. In general, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 47% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, shaft coupling exports shrank to $X in 2022. Over the period under review, exports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 41% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Poland (X tons), the UK (X tons) and Germany (X tons) were the main destinations of shaft coupling exports from Norway, with a combined 28% share of total exports. Denmark, the United States, the United Arab Emirates, the Netherlands, Faroe Islands, Brazil, South Korea, Italy, France and Sweden lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2022, the biggest increases were recorded for Faroe Islands (with a CAGR of +30.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), the United States ($X) and the Netherlands ($X) constituted the largest markets for shaft coupling exported from Norway worldwide, together accounting for 31% of total exports. Brazil, Faroe Islands, Poland, South Korea, Germany, Denmark, the United Arab Emirates, France, Italy and Sweden lagged somewhat behind, together comprising a further 34%.

Faroe Islands, with a CAGR of +18.5%, recorded the highest growth rate of the value of exports, in terms of 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 shaft coupling export price stood at $X per ton in 2022, increasing by 23% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, shaft coupling export price increased by +75.9% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 65% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Shaft Coupling Imports

Imports into Norway

In 2022, imports of clutches and shaft couplings into Norway rose significantly to X tons, surging by 12% against 2021 figures. Over the period under review, imports, however, saw a perceptible downturn. The growth pace was the most rapid in 2021 when imports increased by 16% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, shaft coupling imports dropped modestly to $X in 2022. In general, imports, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2021 with an increase of 23% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X tons), Italy (X tons) and the Netherlands (X tons) were the main suppliers of shaft coupling imports to Norway, with a combined 73% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +21.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Italy ($X) constituted the largest shaft coupling suppliers to Norway, together accounting for 70% of total imports.

Among the main suppliers, the Netherlands, with a CAGR of +26.4%, 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

In 2022, the average shaft coupling import price amounted to $X per ton, declining by -13.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2020 when the average import price increased by 19% against the previous year. The import price peaked at $X per ton in 2021, and then contracted in the following year.

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 France ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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