Norway: Electric Radiator Market 2025

Electric Radiator Market Size in Norway

The Norwegian electric radiator market surged to $X in 2021, picking up by 78% 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). Overall, consumption saw resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Electric Radiator Exports

Exports from Norway

In 2021, approx. X units of electric radiators and convection heaters were exported from Norway; with a decrease of -10.4% against the previous year. In general, exports saw a deep slump. The most prominent rate of growth was recorded in 2016 when exports increased by 21% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, electric radiator exports dropped slightly to $X in 2021. Over the period under review, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by 21%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Sweden (X units) was the main destination for electric radiator exports from Norway, accounting for a 36% share of total exports. Moreover, electric radiator exports to Sweden exceeded the volume sent to the second major destination, Finland (X units), twofold. Germany (X units) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2021, the average annual growth rate of volume to Sweden amounted to -14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (-14.5% per year) and Germany (-0.3% per year).

In value terms, the largest markets for electric radiator exported from Norway were Sweden ($X), Finland ($X) and Slovenia ($X), with a combined 61% share of total exports. Germany, Denmark, Hungary, Serbia, Russia, Cyprus, Lithuania, Austria and Bosnia and Herzegovina lagged somewhat behind, together comprising a further 30%.

Among the main countries of destination, Serbia, with a CAGR of +29.7%, saw 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

In 2021, the average electric radiator export price amounted to $X per unit, surging by 7.8% against the previous year. Over the last nine years, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2019 an increase of 19% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Austria ($X per unit), while the average price for exports to Lithuania ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cyprus (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Radiator Imports

Imports into Norway

In 2021, approx. X units of electric radiators and convection heaters were imported into Norway; jumping by 49% compared with 2020. The total import volume increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, electric radiator imports soared to $X in 2021. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest electric radiator supplier to Norway, accounting for a 66% share of total imports. Moreover, electric radiator imports from China exceeded the figures recorded by the second-largest supplier, Lithuania (X units), sevenfold. The third position in this ranking was held by the UK (X units), with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (-1.7% per year) and the UK (+47.0% per year).

In value terms, China ($X) constituted the largest supplier of electric radiators and convection heaters to Norway, comprising 54% of total imports. The second position in the ranking was held by Sweden ($X), with a 16% share of total imports. It was followed by Lithuania, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-4.0% per year) and Lithuania (+3.4% per year).

Import Prices by Country

In 2021, the average electric radiator import price amounted to $X per unit, with an increase of 14% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 15%. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Sweden ($X per unit), while the price for Denmark ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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