Norway: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Market Size in Norway

The Norwegian electrical circuit apparatus market surged to $X in 2021, jumping by 18% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Electrical Circuit Apparatus Production in Norway

In value terms, electrical circuit apparatus production declined to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2014 when the production volume increased by 402%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Electrical Circuit Apparatus Exports

Exports from Norway

In 2021, overseas shipments of electrical apparatus for circuit connection, switching and protection increased by 14% to X tons, rising for the third consecutive year after five years of decline. In general, exports, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 15% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, electrical circuit apparatus exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a pronounced downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 34%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Sweden (X tons) was the main destination for electrical circuit apparatus exports from Norway, with a 53% share of total exports. Moreover, electrical circuit apparatus exports to Sweden exceeded the volume sent to the second major destination, Denmark (X tons), ninefold. The third position in this ranking was taken by China (X tons), with a 5% share.

From 2012 to 2021, the average annual growth rate of volume to Sweden amounted to -1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+6.3% per year) and China (+10.5% per year).

In value terms, Sweden ($X) remains the key foreign market for electrical circuit apparatus exports from Norway, comprising 28% of total exports. The second position in the ranking was taken by Guyana ($X), with a 7.6% share of total exports. It was followed by China, with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Guyana (+180.3% per year) and China (+11.8% per year).

Export Prices by Country

The average electrical circuit apparatus export price stood at $X per ton in 2021, with an increase of 17% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.0%. The pace of growth appeared the most rapid in 2014 an increase of 17%. The export price peaked in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Guyana ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+24.8%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Circuit Apparatus Imports

Imports into Norway

In 2021, the amount of electrical apparatus for circuit connection, switching and protection imported into Norway rose remarkably to X tons, surging by 8.7% compared with 2020 figures. Overall, imports, however, continue to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2018 with an increase of 9.2%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, electrical circuit apparatus imports skyrocketed to $X in 2021. In general, imports recorded a relatively flat trend pattern. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Germany (X tons) and France (X tons) were the main suppliers of electrical circuit apparatus imports to Norway, together comprising 44% of total imports. Sweden, the Czech Republic, Estonia, Romania, Italy, Finland, Poland, Portugal, Denmark, Switzerland and Latvia lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2021, the biggest increases were in Portugal (with a CAGR of +53.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Sweden ($X) were the largest electrical circuit apparatus suppliers to Norway, with a combined 41% share of total imports. These countries were followed by France, the Czech Republic, Italy, Romania, Poland, Finland, Switzerland, Denmark, Estonia, Portugal and Latvia, which together accounted for a further 31%.

In terms of the main suppliers, Portugal, with a CAGR of +52.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average electrical circuit apparatus import price amounted to $X per ton, with an increase of 10% against the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Switzerland ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+14.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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