Norway: Electrical Transformer Market 2025

Electrical Transformer Market Size in Norway

The Norwegian electrical transformer market contracted dramatically to $X in 2022, waning by X% against the previous year. Over the period under review, consumption continues to indicate a abrupt slump. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Electrical Transformer Production in Norway

In value terms, electrical transformer production totaled $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Electrical Transformer Exports

Exports from Norway

In 2022, shipments abroad of electrical transformers decreased by X% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The exports peaked at X units in 2021, and then dropped rapidly in the following year.

In value terms, electrical transformer exports skyrocketed to $X in 2022. Overall, exports continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Denmark (X units), Sweden (X units) and the United States (X units) were the main destinations of electrical transformer exports from Norway, together comprising X% of total exports. Poland, Iceland, Italy, Germany, Romania, the UK, Finland and Singapore lagged somewhat behind, together comprising a further X%.

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

In value terms, Sweden ($X), the United States ($X) and Iceland ($X) appeared to be the largest markets for electrical transformer exported from Norway worldwide, together comprising X% of total exports.

Among the main countries of destination, the United States, 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

In 2022, the average electrical transformer export price amounted to $X per unit, surging by X% against the previous year. Overall, the export price, however, showed a abrupt decrease. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Denmark ($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 Singapore (X%), while the prices for the other major destinations experienced mixed trend patterns.

Electrical Transformer Imports

Imports into Norway

In 2022, supplies from abroad of electrical transformers decreased by X% to X units for the first time since 2017, thus ending a four-year rising trend. Overall, imports, however, showed a slight expansion. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X units, and then declined remarkably in the following year.

In value terms, electrical transformer imports soared to $X in 2022. Over the period under review, total imports indicated a modest increase from 2012 to 2022: its value 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, imports decreased by X% against 2020 indices. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electrical transformer to Norway, accounting for a X% share of total imports. Moreover, electrical transformer imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), fivefold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, the largest electrical transformer suppliers to Norway were Poland ($X), Germany ($X) and Sweden ($X), with a combined X% share of total imports. The Czech Republic, China, Spain, Denmark, Vietnam, Estonia, Taiwan (Chinese) and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average electrical transformer import price stood at $X per unit in 2022, rising by X% against the previous year. In general, the import price showed a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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 Poland ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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