Norway: Combined Refrigerator-Freezer Market 2024

Combined Refrigerator-Freezer Market Size in Norway

In 2022, after two years of growth, there was significant decline in the Norwegian combined refrigerator-freezer market, when its value decreased by -6% to $X. Overall, consumption, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 7.5%. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Combined Refrigerator-Freezer Exports

Exports from Norway

In 2022, exports of combined refrigerators-freezers from Norway fell dramatically to X units, waning by -30.9% compared with 2021. In general, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 149%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, combined refrigerator-freezer exports soared to $X in 2022. Overall, exports faced a deep downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 106%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X units) was the main destination for combined refrigerator-freezer exports from Norway, accounting for a 58% share of total exports. Moreover, combined refrigerator-freezer exports to Sweden exceeded the volume sent to the second major destination, Denmark (X units), eightfold. The third position in this ranking was taken by Spain (X units), with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden stood at -16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (-27.3% per year) and Spain (+51.7% per year).

In value terms, Sweden ($X) remains the key foreign market for combined refrigerators-freezers exports from Norway, comprising 48% of total exports. The second position in the ranking was taken by Turkey ($X), with a 5.5% share of total exports. It was followed by Denmark, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden amounted to -19.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+72.9% per year) and Denmark (-31.7% per year).

Export Prices by Country

In 2022, the average combined refrigerator-freezer export price amounted to $X per unit, increasing by 67% against the previous year. In general, the export price, however, saw a mild decrease. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to Sierra Leone ($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 Turkey (+19.9%), while the prices for the other major destinations experienced more modest paces of growth.

Combined Refrigerator-Freezer Imports

Imports into Norway

Combined refrigerator-freezer imports into Norway surged to X units in 2022, rising by 23% on the previous year. In general, imports saw a relatively flat trend pattern. Imports peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, combined refrigerator-freezer imports reduced remarkably to $X in 2022. Over the period under review, imports, however, recorded a mild curtailment. The growth pace was the most rapid in 2021 when imports increased by 22% against the previous year. As a result, imports reached the peak of $X, and then dropped markedly in the following year.

Imports by Country

Poland (X units), China (X units) and Italy (X units) were the main suppliers of combined refrigerator-freezer imports to Norway, together comprising 67% of total imports. Turkey, Germany, Serbia, Hungary and South Korea lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Serbia (with a CAGR of +31.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest combined refrigerator-freezer suppliers to Norway were Poland ($X), China ($X) and Italy ($X), together accounting for 66% of total imports. Germany, Turkey, South Korea, Serbia and Hungary lagged somewhat behind, together accounting for a further 28%.

In terms of the main suppliers, Serbia, with a CAGR of +27.2%, saw the highest growth rate of 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 combined refrigerator-freezer import price stood at $X per unit in 2022, reducing by -31.5% against the previous year. In general, the import price continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2021 an increase of 53% against the previous year. As a result, import price attained the peak level of $X per unit, and then declined dramatically 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 South Korea ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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