Norway: Accumulator Market 2024

Accumulator Market Size in Norway

The Norwegian accumulator market rose notably to $X in 2022, with an increase of X% against the previous year. Overall, consumption continues to indicate a resilient increase. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the near future.

Accumulator Production in Norway

In value terms, accumulator production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Accumulator production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Accumulator Exports

Exports from Norway

For the seventh year in a row, Norway recorded growth in shipments abroad of electric accumulators, which increased by X% to X units in 2022. Over the period under review, exports saw a strong increase. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, accumulator exports surged to $X in 2022. In general, exports showed a significant increase. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

Denmark (X units), Estonia (X units) and the United States (X units) were the main destinations of accumulator exports from Norway, together comprising X% of total exports. Sweden, Japan, Germany, China, Poland, Spain, Singapore, the United Arab Emirates, Iceland and the UK lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for accumulator exported from Norway were China ($X), Germany ($X) and the United States ($X), with a combined X% share of total exports.

In terms of the main countries of destination, China, with a CAGR of X%, recorded the highest growth rate of 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 accumulator export price stood at $X per unit in 2022, falling by X% against the previous year. In general, the export price, however, showed strong growth. The pace of growth was the most pronounced in 2015 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then shrank modestly in the following year.

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

Accumulator Imports

Imports into Norway

In 2022, approx. X units of electric accumulators were imported into Norway; picking up by X% against the year before. Over the period under review, imports showed resilient growth. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, accumulator imports soared to $X in 2022. In general, imports recorded a strong increase. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest accumulator supplier to Norway, with a X% share of total imports. Moreover, accumulator imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), fourfold. Japan (X units) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Japan (X% per year).

In value terms, China ($X) constituted the largest supplier of electric accumulators to Norway, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Germany, with an X% share.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the average accumulator import price amounted to $X per unit, picking up by X% against the previous year. Overall, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, accumulator import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform

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