Norway: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Norway

In 2021, the Norwegian gear cutting machine market decreased by -99.4% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption recorded a abrupt shrinkage. As a result, consumption reached the peak level of $X, and then declined rapidly in the following year.

Gear Cutting Machine Production in Norway

In value terms, gear cutting machine production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 11%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Gear Cutting Machine Exports

Exports from Norway

In 2021, the amount of gear cutting, gear grinding or gear finishing machines exported from Norway skyrocketed to X units, increasing by 300% on the year before. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 1,000% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, gear cutting machine exports surged to $X in 2021. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 3,355% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Denmark (X units), South Africa (X units) and Brazil (X units) were the main destinations of gear cutting machine exports from Norway.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X) emerged as the key foreign market for gear cutting, gear grinding or gear finishing machines exports from Norway, comprising 62% of total exports. The second position in the ranking was held by South Africa ($X), with a 28% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Denmark was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (0.0% per year) and Brazil (0.0% per year).

Export Prices by Country

In 2021, the average gear cutting machine export price amounted to $X per unit, dropping by -40.4% against the previous year. In general, the export price, however, showed a slight increase. The pace of growth was the most pronounced in 2015 when the average export price increased by 476%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, 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 Denmark ($X per unit), while the average price for exports to South Africa ($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 the United Arab Emirates (+72.4%).

Gear Cutting Machine Imports

Imports into Norway

In 2021, purchases abroad of gear cutting, gear grinding or gear finishing machines decreased by -97.5% to X units for the first time since 2018, thus ending a two-year rising trend. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 900% against the previous year. Over the period under review, imports hit record highs at X units in 2020, and then fell rapidly in the following year.

In value terms, gear cutting machine imports declined rapidly to $X in 2021. Overall, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2015 when imports increased by 583% against the previous year. Over the period under review, imports attained the maximum at $X in 2020, and then declined rapidly in the following year.

Imports by Country

France (X units), the United States (X units) and China (X units) were the main suppliers of gear cutting machine imports to Norway, together comprising 88% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +22.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, China ($X) constituted the largest supplier of gear cutting, gear grinding or gear finishing machines to Norway, comprising 72% of total imports. The second position in the ranking was taken by Sweden ($X), with a 12% share of total imports. It was followed by the United States, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from China stood at -10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-10.7% per year) and the United States (-43.1% per year).

Import Prices by Country

In 2021, the average gear cutting machine import price amounted to $X per unit, surging by 145% against the previous year. Overall, the import price, however, saw a abrupt decline. The growth pace was the most rapid in 2018 when the average import price increased by 805%. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, 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 China ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+15.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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