Norway: Electrical Signalling Apparatus Market 2024

Electrical Signalling Apparatus Market Size in Norway

In 2022, the Norwegian electrical signalling apparatus market increased by 72% to $X, rising for the fourth consecutive year after two years of decline. Overall, consumption recorded strong growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Electrical Signalling Apparatus Exports

Exports from Norway

After five years of growth, shipments abroad of electrical apparatus for sound or visual signalling decreased by -49.7% to X units in 2022. Overall, exports saw a noticeable descent. The most prominent rate of growth was recorded in 2021 with an increase of 88%. As a result, the exports attained the peak of X units, and then contracted dramatically in the following year.

In value terms, electrical signalling apparatus exports dropped markedly to $X in 2022. In general, exports showed a perceptible decrease. The pace of growth was the most pronounced in 2021 with an increase of 39% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X units), Germany (X units) and Sweden (X units) were the main destinations of electrical signalling apparatus exports from Norway, with a combined 47% share of total exports. Indonesia, France, the UK, the United States, Saudi Arabia, Turkey, Belgium, Denmark, Brazil and Vietnam lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +70.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) emerged as the key foreign market for electrical apparatus for sound or visual signalling exports from Norway, comprising 29% of total exports. The second position in the ranking was taken by China ($X), with a 13% share of total exports. It was followed by Indonesia, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value to Sweden stood at +16.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+15.4% per year) and Indonesia (+16.8% per year).

Export Prices by Country

The average electrical signalling apparatus export price stood at $X per unit in 2022, rising by 63% against the previous year. Overall, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 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 Sweden ($X per unit), while the average price for exports to Germany ($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 the United States (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Signalling Apparatus Imports

Imports into Norway

In 2022, overseas purchases of electrical apparatus for sound or visual signalling increased by 17% to X units, rising for the fourth year in a row after two years of decline. Overall, imports showed a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 47%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, electrical signalling apparatus imports surged to $X in 2022. Over the period under review, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 52%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electrical signalling apparatus to Norway, accounting for a 41% share of total imports. Moreover, electrical signalling apparatus imports from China exceeded the figures recorded by the second-largest supplier, Israel (X units), twofold. Sweden (X units) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Israel (+44.6% per year) and Sweden (+14.1% per year).

In value terms, China ($X) constituted the largest supplier of electrical apparatus for sound or visual signalling to Norway, comprising 41% of total imports. The second position in the ranking was taken by Israel ($X), with a 20% share of total imports. It was followed by Sweden, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +22.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Israel (+32.8% per year) and Sweden (+14.0% per year).

Import Prices by Country

In 2022, the average electrical signalling apparatus import price amounted to $X per unit, growing by 9.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2013 an increase of 16% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices failed to regain momentum.

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 Germany ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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