Norway: Non-Electric Motor Handtools Market 2024

Non-Electric Motor Handtools Market Size in Norway

In 2022, the Norwegian non-electric motor handtools market decreased by -5.8% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Non-Electric Motor Handtools Exports

Exports from Norway

In 2022, the amount of handtools, hydraulic or with a self-contained non-electric motor exported from Norway dropped to X units, which is down by -10.3% against the year before. Overall, exports continue to indicate a noticeable contraction. The growth pace was the most rapid in 2016 with an increase of 39%. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-electric motor handtools exports surged to $X in 2022. Over the period under review, exports, however, showed a noticeable expansion. The growth pace was the most rapid in 2013 with an increase of 65%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Sweden (X units), Finland (X units) and Denmark (X units) were the main destinations of non-electric motor handtools exports from Norway, with a combined 72% share of total exports. Singapore, the UK, Poland, Malaysia and Germany lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +47.8%), while the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X) remains the key foreign market for handtools, hydraulic or with a self-contained non-electric motor exports from Norway, comprising 55% of total exports. The second position in the ranking was taken by the UK ($X), with a 10% share of total exports. It was followed by Sweden, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value to Denmark stood at +32.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+15.9% per year) and Sweden (-11.4% per year).

Export Prices by Country

The average non-electric motor handtools export price stood at $X per unit in 2022, picking up by 79% against the previous year. Overall, the export price continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2018 an increase of 105% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Denmark ($X per unit), while the average price for exports to Sweden ($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 Germany (+32.4%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Motor Handtools Imports

Imports into Norway

After two years of growth, overseas purchases of handtools, hydraulic or with a self-contained non-electric motor decreased by -16.8% to X units in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 64%. Imports peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, non-electric motor handtools imports contracted modestly to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 17%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), the United States (X units) and Germany (X units) were the main suppliers of non-electric motor handtools imports to Norway, together accounting for 53% of total imports. Poland, Lithuania, Sweden, Denmark, the UK, Taiwan (Chinese) and Japan lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lithuania (with a CAGR of +102.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-electric motor handtools suppliers to Norway were Denmark ($X), Germany ($X) and the United States ($X), with a combined 47% share of total imports. China, Sweden, Poland, the UK, Lithuania, Japan and Taiwan (Chinese) lagged somewhat behind, together comprising a further 42%.

Lithuania, with a CAGR of +82.1%, recorded 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

The average non-electric motor handtools import price stood at $X per unit in 2022, jumping by 19% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+11.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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