Norway: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in Norway

In 2021, the Norwegian flywheels and pulleys market decreased by -19.3% to $X for the first time since 2018, thus ending a two-year rising trend. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +11.7% against 2018 indices. As a result, consumption reached the peak level of $X, and then shrank markedly in the following year.

Flywheels And Pulleys Production in Norway

In value terms, flywheels and pulleys production fell to $X in 2021 estimated in export price. In general, the total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +49.2% against 2018 indices. The most prominent rate of growth was recorded in 2020 with an increase of 33%. As a result, production reached the peak level of $X, and then reduced in the following year.

Flywheels And Pulleys Exports

Exports from Norway

In 2021, approx. X tons of flywheels and pulleys were exported from Norway; picking up by 65% compared with the previous year. Overall, exports, however, saw a abrupt setback. The growth pace was the most rapid in 2018 when exports increased by 181% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, flywheels and pulleys exports soared to $X in 2021. Over the period under review, exports, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 112% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons) was the main destination for flywheels and pulleys exports from Norway, accounting for a 33% share of total exports. Moreover, flywheels and pulleys exports to Spain exceeded the volume sent to the second major destination, Turkey (X tons), twofold. The third position in this ranking was held by the UK (X tons), with an 8.9% share.

From 2012 to 2021, the average annual growth rate of volume to Spain stood at +17.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+65.7% per year) and the UK (+19.6% per year).

In value terms, Turkey ($X), Spain ($X) and the United States ($X) constituted the largest markets for flywheels and pulleys exported from Norway worldwide, together accounting for 43% of total exports.

Among the main countries of destination, Turkey, with a CAGR of +56.5%, saw the highest rates of growth with regard to 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 2021, the average flywheels and pulleys export price amounted to $X per ton, with a decrease of -28.9% against the previous year. Overall, the export price, however, continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2020 an increase of 99% against the previous year. As a result, the export price attained the peak level of $X per ton, and then contracted sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Spain ($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 Estonia (+15.2%), while the prices for the other major destinations experienced more modest paces of growth.

Flywheels And Pulleys Imports

Imports into Norway

In 2021, overseas purchases of flywheels and pulleys decreased by -8.5% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports faced a abrupt setback. The growth pace was the most rapid in 2018 with an increase of 51%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, flywheels and pulleys imports amounted to $X in 2021. In general, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of 26% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X tons), Spain (X tons) and Poland (X tons) were the main suppliers of flywheels and pulleys imports to Norway, with a combined 38% share of total imports. These countries were followed by the Netherlands, Italy, China, the United States, France, the UK, South Korea and Sweden, which together accounted for a further 51%.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +11.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of flywheels and pulleys to Norway, comprising 22% of total imports. The second position in the ranking was taken by France ($X), with a 10% share of total imports. It was followed by Italy, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at -9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+0.8% per year) and Italy (+14.0% per year).

Import Prices by Country

The average flywheels and pulleys import price stood at $X per ton in 2021, picking up by 15% against the previous year. In general, import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, flywheels and pulleys import price increased by +45.6% against 2018 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by 49% against the previous year. The import price peaked in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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