Norway: Electrical Fuse Market 2024

Electrical Fuse Market Size in Norway

In 2021, the Norwegian electrical fuse market increased by 19% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, recorded a perceptible shrinkage. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Electrical Fuse Production in Norway

In value terms, electrical fuse production expanded notably to $X in 2021 estimated in export price. In general, production showed a prominent expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by 632%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Electrical Fuse Exports

Exports from Norway

Electrical fuse exports from Norway surged to X tons in 2021, picking up by 32% against the previous year. Overall, exports, however, continue to indicate a abrupt setback. The growth pace was the most rapid in 2020 when exports increased by 81%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, electrical fuse exports dropped to $X in 2021. In general, exports, however, continue to indicate a abrupt setback. The growth pace was the most rapid in 2020 when exports increased by 60%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Sweden (X tons), Lithuania (X tons) and Vietnam (X tons) were the main destinations of electrical fuse exports from Norway, together comprising 60% of total exports. These countries were followed by the UK, Poland, the Netherlands, the United States, Singapore, Denmark, Malaysia, China, the United Arab Emirates and Faroe Islands, which together accounted for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +70.8%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), the UK ($X) and Malaysia ($X) appeared to be the largest markets for electrical fuse exported from Norway worldwide, with a combined 42% share of total exports. Vietnam, Lithuania, Singapore, the United States, Poland, the Netherlands, China, Denmark, the United Arab Emirates and Faroe Islands lagged somewhat behind, together accounting for a further 42%.

The United Arab Emirates, with a CAGR of +55.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 electrical fuse export price amounted to $X per ton, dropping by -31.8% against the previous year. Over the period under review, the export price showed a deep setback. The most prominent rate of growth was recorded in 2019 when the average export price increased by 39%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Lithuania ($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 Lithuania (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Fuse Imports

Imports into Norway

In 2021, purchases abroad of electrical fuses increased by 14% to X tons, rising for the second consecutive year after six years of decline. In general, imports, however, saw a deep contraction. The growth pace was the most rapid in 2020 with an increase of 16% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, electrical fuse imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a perceptible setback. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of electrical fuse to Norway, with a 33% share of total imports. Moreover, electrical fuse imports from Germany exceeded the figures recorded by the second-largest supplier, Sweden (X tons), threefold. China (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-6.4% per year) and China (-19.8% per year).

In value terms, Germany ($X) constituted the largest supplier of electrical fuses to Norway, comprising 22% of total imports. The second position in the ranking was held by China ($X), with an 11% share of total imports. It was followed by Hungary, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled -1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-16.7% per year) and Hungary (+0.1% per year).

Import Prices by Country

In 2021, the average electrical fuse import price amounted to $X per ton, rising by 11% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.1%. The growth pace was the most rapid in 2017 an increase of 28%. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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