Norway: Market for Grinding, Sanding and Polishing Machines 2024

Market Size for Grinding, Sanding and Polishing Machines in Norway

In 2021, after two years of growth, there was decline in the Norwegian market for grinding, sanding and polishing machines, when its value decreased by -3.8% to $X. Over the period under review, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Grinding, Sanding and Polishing Machines

Exports from Norway

After two years of growth, overseas shipments of grinding, sanding and polishing machines decreased by -91.2% to X units in 2021. Overall, exports recorded a deep contraction. The pace of growth appeared the most rapid in 2019 when exports increased by 708% against the previous year. The exports peaked at X units in 2020, and then reduced dramatically in the following year.

In value terms, grinding, sanding and polishing machine exports reduced dramatically to $X in 2021. Over the period under review, exports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2019 when exports increased by 1,582%. The exports peaked at $X in 2020, and then shrank dramatically in the following year.

Exports by Country

The United States (X units) was the main destination for grinding, sanding and polishing machine exports from Norway, with a 53% share of total exports. Moreover, grinding, sanding and polishing machine exports to the United States exceeded the volume sent to the second major destination, the UK (X units), threefold. Romania (X units) ranked third in terms of total exports with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +59.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+182.8% per year) and Romania (0.0% per year).

In value terms, the United States ($X), the UK ($X) and Australia ($X) constituted the largest markets for grinding, sanding and polishing machine exported from Norway worldwide, with a combined 74% share of total exports.

Among the main countries of destination, the UK, with a CAGR of +100.6%, 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

In 2021, the average export price for grinding, sanding and polishing machines amounted to $X per unit, increasing by 73% against the previous year. Overall, the export price continues to indicate significant growth. The pace of growth appeared the most rapid in 2017 when the average export price increased by 2,241% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to China ($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 Poland (+31.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding, Sanding and Polishing Machines

Imports into Norway

In 2021, after two years of growth, there was decline in purchases abroad of grinding, sanding and polishing machines, when their volume decreased by -2.2% to X units. The total import volume increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 43% against the previous year. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, grinding, sanding and polishing machine imports dropped markedly to $X in 2021. In general, total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 88%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest grinding, sanding and polishing machine supplier to Norway, accounting for a 74% share of total imports. Moreover, grinding, sanding and polishing machine imports from China exceeded the figures recorded by the second-largest supplier, Sweden (X units), sevenfold. The Netherlands (X units) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-5.7% per year) and the Netherlands (+6.6% per year).

In value terms, the largest grinding, sanding and polishing machine suppliers to Norway were China ($X), Germany ($X) and Sweden ($X), with a combined 53% share of total imports. These countries were followed by the Netherlands, Denmark and Taiwan (Chinese), which together accounted for a further 30%.

In terms of the main suppliers, the Netherlands, with a CAGR of +22.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for grinding, sanding and polishing machines amounted to $X per unit, falling by -13.3% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average import price increased by 45% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a lower figure.

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 Germany ($X per unit), while the price for China ($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 Netherlands (+14.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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