Norway: Market for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines 2024

Market Size for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Norway

The Norwegian fuel or lubricating pump market rose rapidly to $X in 2021, with an increase of 5.7% against the previous year. Overall, consumption, however, recorded a abrupt contraction. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Production of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Norway

In value terms, fuel or lubricating pump production totaled $X in 2021 estimated in export price. Overall, production, however, saw a deep slump. The growth pace was the most rapid in 2014 when the production volume increased by 24%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Exports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Exports from Norway

In 2021, shipments abroad of fuel, lubricating or cooling-medium pumps for internal combustion engines increased by 48% to X units for the first time since 2016, thus ending a four-year declining trend. In general, exports, however, continue to indicate a dramatic contraction. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, fuel or lubricating pump exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a drastic downturn. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Belgium (X units) was the main destination for fuel or lubricating pump exports from Norway, accounting for a 18% share of total exports. Moreover, fuel or lubricating pump exports to Belgium exceeded the volume sent to the second major destination, Sweden (X units), threefold. The third position in this ranking was taken by Austria (X units), with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume to Belgium stood at +13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-26.5% per year) and Austria (-38.3% per year).

In value terms, Belgium ($X) remains the key foreign market for fuel, lubricating or cooling-medium pumps for internal combustion engines exports from Norway, comprising 22% of total exports. The second position in the ranking was held by Chile ($X), with a 7.7% share of total exports. It was followed by the Netherlands, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Belgium totaled +26.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+11.2% per year) and the Netherlands (-13.8% per year).

Export Prices by Country

The average fuel or lubricating pump export price stood at $X per unit in 2021, rising by 7.8% against the previous year. Over the period under review, the export price recorded a strong expansion. The growth pace was the most rapid in 2020 when the average export price increased by 52%. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Chile ($X per unit), while the average price for exports to Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+60.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Imports into Norway

In 2021, purchases abroad of fuel, lubricating or cooling-medium pumps for internal combustion engines was finally on the rise to reach X units after two years of decline. Overall, imports, however, showed a abrupt decrease. The growth pace was the most rapid in 2017 when imports increased by 15%. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, fuel or lubricating pump imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a abrupt decrease. The growth pace was the most rapid in 2018 with an increase of 31% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X units) constituted the largest supplier of fuel or lubricating pump to Norway, with a 13% share of total imports. Moreover, fuel or lubricating pump imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. The third position in this ranking was held by the United States (X units), with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to -24.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-31.6% per year) and the United States (-15.9% per year).

In value terms, Germany ($X) constituted the largest supplier of fuel, lubricating or cooling-medium pumps for internal combustion engines to Norway, comprising 16% of total imports. The second position in the ranking was held by Mexico ($X), with a 6.7% share of total imports. It was followed by the United States, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at -11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-16.0% per year) and the United States (-7.5% per year).

Import Prices by Country

In 2021, the average fuel or lubricating pump import price amounted to $X per unit, growing by 9.7% against the previous year. In general, the import price saw resilient growth. The pace of growth appeared the most rapid in 2014 when the average import price increased by 54% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Mexico ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+26.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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