Norway: Market for Equipment For Internal Combustion Engines 2025

Market Size for Equipment For Internal Combustion Engines in Norway

The Norwegian internal combustion engine equipment market shrank notably to $X in 2022, which is down by -26.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a relatively flat trend pattern. Internal combustion engine equipment consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Exports of Equipment For Internal Combustion Engines

Exports from Norway

In 2022, shipments abroad of equipment for internal combustion engines decreased by -23.6% to X units, falling for the sixth consecutive year after five years of growth. Over the period under review, exports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2013 with an increase of 155%. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, internal combustion engine equipment exports contracted dramatically to $X in 2022. In general, exports showed a slight shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 44%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden (X units) was the main destination for internal combustion engine equipment exports from Norway, accounting for a 57% share of total exports. Moreover, internal combustion engine equipment exports to Sweden exceeded the volume sent to the second major destination, China (X units), fivefold. The Netherlands (X units) ranked third in terms of total exports with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+38.0% per year) and the Netherlands (+6.0% per year).

In value terms, the Netherlands ($X), Sweden ($X) and China ($X) appeared to be the largest markets for internal combustion engine equipment exported from Norway worldwide, with a combined 41% share of total exports.

China, with a CAGR of +13.6%, recorded the highest growth rate of 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

The average internal combustion engine equipment export price stood at $X per unit in 2022, picking up by 3.4% against the previous year. In general, the export price continues to indicate a slight increase. The most prominent rate of growth was recorded in 2018 an increase of 102% against the previous year. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Sweden ($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 Arab Emirates (+16.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Equipment For Internal Combustion Engines

Imports into Norway

In 2022, the amount of equipment for internal combustion engines imported into Norway dropped rapidly to X units, which is down by -28% against the previous year's figure. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 103% against the previous year. Over the period under review, imports reached the maximum at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, internal combustion engine equipment imports contracted dramatically to $X in 2022. Overall, imports continue to indicate a perceptible descent. The pace of growth was the most pronounced in 2013 with an increase of 119% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

France (X units), Germany (X units) and Italy (X units) were the main suppliers of internal combustion engine equipment imports to Norway, with a combined 60% share of total imports. Latvia, Japan, the Czech Republic, Spain, China, the United States, India, Thailand and Sweden lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +121.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest internal combustion engine equipment suppliers to Norway were Germany ($X), the United States ($X) and Italy ($X), together comprising 48% of total imports. France, Japan, China, Latvia, the Czech Republic, Sweden, Thailand, Spain and India lagged somewhat behind, together comprising a further 34%.

Among the main suppliers, Latvia, with a CAGR of +69.0%, 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 internal combustion engine equipment import price stood at $X per unit in 2022, increasing by 10% against the previous year. Over the period under review, the import price, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2013 an increase of 67%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained 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 the United States ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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