Norway: Crane Market 2024

Crane Market Size in Norway

The Norwegian crane market dropped remarkably to $X in 2022, with a decrease of -19.2% against the previous year. Over the period under review, consumption, however, enjoyed a notable increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Crane Production in Norway

In value terms, crane production dropped to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2014 when the production volume increased by 37% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Crane Exports

Exports from Norway

Crane exports from Norway soared to X units in 2022, with an increase of 20% on the previous year's figure. Over the period under review, exports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of 42%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, crane exports expanded notably to $X in 2022. In general, exports, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2019 when exports increased by 40% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X units) was the main destination for crane exports from Norway, accounting for a 30% share of total exports. Moreover, crane exports to the Netherlands exceeded the volume sent to the second major destination, Sweden (X units), twofold. The United States (X units) ranked third in terms of total exports with an 8% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands amounted to +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-7.6% per year) and the United States (+11.9% per year).

In value terms, the Netherlands ($X), the United States ($X) and Sweden ($X) constituted the largest markets for crane exported from Norway worldwide, together comprising 44% of total exports. Turkey, the UK, Poland, Denmark, Estonia, France, Germany, Faroe Islands and Finland lagged somewhat behind, together comprising a further 36%.

Among the main countries of destination, Estonia, with a CAGR of +20.8%, recorded the highest rates of growth with regard to 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 crane export price stood at $X per unit in 2022, which is down by -12.2% against the previous year. Over the period under review, the export price continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2019 when the average export price increased by 41% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 Turkey ($X per unit), while the average price for exports to Germany ($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 (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Crane Imports

Imports into Norway

In 2022, approx. X units of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane were imported into Norway; declining by -15.3% on 2021. Overall, imports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2021 with an increase of 31% against the previous year. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, crane imports plummeted to $X in 2022. In general, imports showed a noticeable setback. The pace of growth was the most pronounced in 2018 when imports increased by 35%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of crane to Norway, accounting for a 35% share of total imports. Moreover, crane imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. Austria (X units) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at -1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.8% per year) and Austria (-0.1% per year).

In value terms, Germany ($X), Italy ($X) and Austria ($X) appeared to be the largest crane suppliers to Norway, together comprising 48% of total imports. Denmark, Sweden, Poland, Slovenia, the Netherlands, Finland, Spain, the Czech Republic, the UK and China lagged somewhat behind, together comprising a further 45%.

Spain, with a CAGR of +10.8%, saw 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

The average crane import price stood at $X per unit in 2022, with a decrease of -2.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 40%. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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