Norway: Market for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA 2024

Market Size for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA in Norway

In 2022, the Norwegian market for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA decreased by -6.9% to $X, falling for the second consecutive year after three years of growth. In general, consumption saw a abrupt setback. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over X kVA in Norway

In value terms, production of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2016 with an increase of 216% against the previous year. Over the period under review, production of hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA

Exports from Norway

In 2022, overseas shipments of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA were finally on the rise to reach X units after two years of decline. Overall, exports, however, saw a abrupt decline. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA fell to $X in 2022. Over the period under review, exports, however, saw a abrupt setback. The pace of growth appeared the most rapid in 2013 with an increase of 69% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA from Norway, accounting for a 73% share of total exports. Moreover, exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA to the United States exceeded the volume sent to the second major destination, Iceland (X units), sevenfold. The third position in this ranking was held by Germany (X units), with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iceland (-18.3% per year) and Germany (-17.7% per year).

In value terms, the United States ($X) emerged as the key foreign market for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA exports from Norway, comprising 79% of total exports. The second position in the ranking was held by Sweden ($X), with a 5.1% share of total exports. It was followed by Germany, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to -18.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+7.8% per year) and Germany (-9.8% per year).

Export Prices by Country

In 2022, the average export price for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA amounted to $X per unit, which is down by -67.3% against the previous year. Overall, the export price continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2016 when the average export price increased by 95%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per unit), while the average price for exports to Iceland ($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 Poland (+26.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA

Imports into Norway

In 2022, the amount of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA imported into Norway skyrocketed to X units, with an increase of 33% compared with the year before. In general, imports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 28,908% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a slight decline. The most prominent rate of growth was recorded in 2020 with an increase of 176%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, France (X units) constituted the largest supplier of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA to Norway, with a 49% share of total imports. Moreover, imports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA from France exceeded the figures recorded by the second-largest supplier, the UK (X units), threefold. The third position in this ranking was held by Italy (X units), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from France stood at +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+17.8% per year) and Italy (-6.4% per year).

In value terms, the largest electrical transformers with non-liquid dielectric, of power handling capacity over X kVA suppliers to Norway were Italy ($X), Germany ($X) and China ($X), with a combined 59% share of total imports.

In terms of the main suppliers, China, with a CAGR of +70.5%, saw the highest rates of growth with regard to 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

The average import price for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA stood at $X per unit in 2022, increasing by 74% against the previous year. In general, the import price recorded a strong expansion. The pace of growth appeared the most rapid in 2021 an increase of 10,435%. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: 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 Faroe Islands (+2,413.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :