Norway: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Norway

The Norwegian refrigerator or freezer market reduced to $X in 2022, which is down by -9.9% 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 saw a perceptible contraction. Refrigerator or freezer consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Refrigerator Or Freezer Exports

Exports from Norway

In 2022, approx. X units of furniture designed to receive refrigerating or freezing equipment were exported from Norway; waning by -25.1% on the previous year. Overall, exports, however, posted noticeable growth. The most prominent rate of growth was recorded in 2016 when exports increased by 344% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, refrigerator or freezer exports reached $X in 2022. In general, exports saw a pronounced descent. The pace of growth was the most pronounced in 2016 with an increase of 266%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Sweden (X units) was the main destination for refrigerator or freezer exports from Norway, accounting for a 61% share of total exports. Moreover, refrigerator or freezer exports to Sweden exceeded the volume sent to the second major destination, the UK (X units), fourfold. The third position in this ranking was held by Denmark (X units), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden amounted to +16.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-4.1% per year) and Denmark (+11.2% per year).

In value terms, the UK ($X), Sweden ($X) and the Netherlands ($X) were the largest markets for refrigerator or freezer exported from Norway worldwide, with a combined 70% share of total exports. Brazil, Denmark, Finland and Russia lagged somewhat behind, together comprising a further 24%.

In terms of the main countries of destination, Brazil, with a CAGR of +11.6%, saw 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

The average refrigerator or freezer export price stood at $X per unit in 2022, surging by 35% against the previous year. Overall, the export price, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2019 an increase of 128%. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per unit), while the average price for exports to Sweden ($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 Liberia (+228.7%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Or Freezer Imports

Imports into Norway

In 2022, imports of furniture designed to receive refrigerating or freezing equipment into Norway declined to X units, falling by -8.7% on 2021. Over the period under review, imports saw a perceptible decrease. The growth pace was the most rapid in 2021 when imports increased by 216%. Imports peaked at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, refrigerator or freezer imports declined to $X in 2022. In general, imports showed a perceptible contraction. The growth pace was the most rapid in 2021 with an increase of 243% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X units) constituted the largest supplier of refrigerator or freezer to Norway, with a 47% share of total imports. Moreover, refrigerator or freezer imports from Turkey exceeded the figures recorded by the second-largest supplier, Spain (X units), threefold. Italy (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey stood at +74.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+33.0% per year) and Italy (+0.8% per year).

In value terms, Turkey ($X) constituted the largest supplier of furniture designed to receive refrigerating or freezing equipment to Norway, comprising 43% of total imports. The second position in the ranking was held by Spain ($X), with a 17% share of total imports. It was followed by Italy, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey totaled +65.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+36.9% per year) and Italy (-3.5% per year).

Import Prices by Country

In 2022, the average refrigerator or freezer import price amounted to $X per unit, reducing by -2.2% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 24%. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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