Norway: Market for Drive-Axles with Differential and Non-Driving Axles 2024

Market Size for Drive-Axles with Differential and Non-Driving Axles in Norway

The Norwegian driving and non-driving axle market rose remarkably to $X in 2021, with an increase of 6.5% against the previous year. Over the period under review, consumption showed a buoyant expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Drive-Axles with Differential and Non-Driving Axles in Norway

In value terms, driving and non-driving axle production rose remarkably to $X in 2021 estimated in export price. Overall, production saw a strong increase. The pace of growth was the most pronounced in 2015 with an increase of 46% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Drive-Axles with Differential and Non-Driving Axles

Exports from Norway

In 2021, after two years of growth, there was decline in overseas shipments of drive-axles with differential and non-driving axles, when their volume decreased by -2.4% to X tons. Overall, exports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of 119%. The exports peaked at X tons in 2020, and then declined slightly in the following year.

In value terms, driving and non-driving axle exports rose slightly to $X in 2021. In general, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 87%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for driving and non-driving axle exports from Norway, accounting for a 98% share of total exports. It was followed by China (X kg), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Germany totaled +13.5%.

In value terms, Germany ($X) remains the key foreign market for driving and non-driving axle exports from Norway, comprising 96% of total exports. The second position in the ranking was held by China ($X), with a 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Germany amounted to +9.1%.

Export Prices by Country

The average driving and non-driving axle export price stood at $X per ton in 2021, surging by 4.2% against the previous year. In general, the export price, however, showed a pronounced slump. The most prominent rate of growth was recorded in 2018 when the average export price increased by 28%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Germany stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+27.6%).

Imports of Drive-Axles with Differential and Non-Driving Axles

Imports into Norway

In 2021, approx. X tons of drive-axles with differential and non-driving axles were imported into Norway; increasing by 24% compared with 2020. In general, imports, however, recorded a slight decrease. The pace of growth appeared the most rapid in 2019 with an increase of 51% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, driving and non-driving axle imports soared to $X in 2021. Overall, imports, however, continue to indicate a noticeable slump. The pace of growth appeared the most rapid in 2018 when imports increased by 24% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of driving and non-driving axle to Norway, with a 57% share of total imports. Moreover, driving and non-driving axle imports from Germany exceeded the figures recorded by the second-largest supplier, Sweden (X tons), tenfold. The third position in this ranking was taken by Italy (X tons), with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-2.0% per year) and Italy (+8.3% per year).

In value terms, Germany ($X) constituted the largest supplier of driving and non-driving axle to Norway, comprising 45% of total imports. The second position in the ranking was taken by Italy ($X), with a 6.8% share of total imports. It was followed by Sweden, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at -6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.6% per year) and Sweden (-5.0% per year).

Import Prices by Country

In 2021, the average driving and non-driving axle import price amounted to $X per ton, dropping by -4% against the previous year. Overall, the import price continues to indicate a slight curtailment. The most prominent rate of growth was recorded in 2020 an increase of 45%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for Latvia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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