Norway: Engine Generator Market 2024

Engine Generator Market Size in Norway

The Norwegian engine generator market reduced remarkably to $X in 2022, which is down by -18.8% 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). In general, consumption saw a perceptible shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Engine Generator Exports

Exports from Norway

In 2022, the amount of generators for internal combustion engines exported from Norway rose markedly to X units, growing by 12% compared with the previous year's figure. Over the period under review, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 264%. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, engine generator exports stood at $X in 2022. In general, exports saw a slight expansion. The pace of growth was the most pronounced in 2017 with an increase of 149%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden (X units) was the main destination for engine generator exports from Norway, accounting for a 66% share of total exports. Moreover, engine generator exports to Sweden exceeded the volume sent to the second major destination, Denmark (X units), threefold. Germany (X units) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden totaled +44.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+4.9% per year) and Germany (+24.0% per year).

In value terms, Sweden ($X) remains the key foreign market for generators for internal combustion engines exports from Norway, comprising 39% of total exports. The second position in the ranking was taken by Denmark ($X), with a 15% share of total exports. It was followed by Belgium, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Sweden stood at +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (-8.9% per year) and Belgium (-2.9% per year).

Export Prices by Country

The average engine generator export price stood at $X per unit in 2022, with a decrease of -3.3% against the previous year. Over the period under review, the export price showed a deep downturn. The most prominent rate of growth was recorded in 2018 an increase of 28%. 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.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the average price for exports to Sweden ($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 France (+4.8%), while the prices for the other major destinations experienced a decline.

Engine Generator Imports

Imports into Norway

In 2022, after two years of growth, there was significant decline in supplies from abroad of generators for internal combustion engines, when their volume decreased by -12.5% to X units. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 40% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then dropped in the following year.

In value terms, engine generator imports dropped to $X in 2022. Over the period under review, imports continue to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 24% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Poland (X units), China (X units) and Germany (X units) were the main suppliers of engine generator imports to Norway, together accounting for 47% of total imports. Slovakia, Spain, Latvia, Italy, Japan, Lithuania, France, Slovenia, Sweden and the Czech Republic lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +135.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest engine generator suppliers to Norway were Poland ($X), Germany ($X) and Slovakia ($X), with a combined 44% share of total imports. China, Spain, Japan, Latvia, France, Italy, Lithuania, Sweden, Slovenia and the Czech Republic lagged somewhat behind, together accounting for a further 38%.

Lithuania, with a CAGR of +119.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average engine generator import price amounted to $X per unit, picking up by 2.3% against the previous year. In general, the import price, however, recorded a perceptible descent. The most prominent rate of growth was recorded in 2013 an increase of 22% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices failed to regain momentum.

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 Slovakia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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