Norway: Non-Combined Refrigerator-Freezer Market 2024

Non-Combined Refrigerator-Freezer Market Size in Norway

After two years of growth, the Norwegian non-combined refrigerator-freezer market decreased by -15.2% to $X in 2022. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then dropped sharply in the following year.

Non-Combined Refrigerator-Freezer Exports

Exports from Norway

After three years of growth, overseas shipments of household refrigerators and freezers (not combined) decreased by -58.4% to X units in 2022. Over the period under review, exports saw a noticeable contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 42% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-combined refrigerator-freezer exports fell remarkably to $X in 2022. In general, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 42% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X units) was the main destination for non-combined refrigerator-freezer exports from Norway, with a 47% share of total exports. Moreover, non-combined refrigerator-freezer exports to Sweden exceeded the volume sent to the second major destination, Brazil (X units), fivefold. Gambia (X units) ranked third in terms of total exports with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden amounted to -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+10.1% per year) and Gambia (+36.8% per year).

In value terms, Sweden ($X), Brazil ($X) and Denmark ($X) were the largest markets for non-combined refrigerator-freezer exported from Norway worldwide, with a combined 83% share of total exports. Russia, Finland, Iceland, Sudan, Sierra Leone, Cameroon, Nigeria, Gambia and Tanzania lagged somewhat behind, together accounting for a further 8.6%.

Among the main countries of destination, Russia, with a CAGR of +87.2%, 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 2022, the average non-combined refrigerator-freezer export price amounted to $X per unit, rising by 11% against the previous year. Overall, the export price, however, continues to indicate a noticeable decline. The growth pace was the most rapid in 2020 when the average export price increased by 39% against the previous year. Over the period under review, the average export prices reached 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 external markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per unit), while the average price for exports to Tanzania ($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 Russia (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Combined Refrigerator-Freezer Imports

Imports into Norway

In 2022, after two years of growth, there was significant decline in overseas purchases of household refrigerators and freezers (not combined), when their volume decreased by -19.1% to X units. The total import volume increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. As a result, imports reached the peak of X units, and then shrank markedly in the following year.

In value terms, non-combined refrigerator-freezer imports contracted remarkably to $X in 2022. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 16%. As a result, imports attained the peak of $X, and then dropped sharply in the following year.

Imports by Country

In 2022, China (X units) constituted the largest non-combined refrigerator-freezer supplier to Norway, with a 40% share of total imports. Moreover, non-combined refrigerator-freezer imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. Turkey (X units) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.9% per year) and Turkey (+2.2% per year).

In value terms, China ($X), Italy ($X) and Germany ($X) appeared to be the largest non-combined refrigerator-freezer suppliers to Norway, with a combined 53% share of total imports. Turkey, Poland, Hungary, Serbia, Vietnam, Sweden and South Korea lagged somewhat behind, together accounting for a further 32%.

Vietnam, with a CAGR of +119.4%, saw the highest growth rate of the value of imports, in terms of 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 non-combined refrigerator-freezer import price amounted to $X per unit, picking up by 3.4% against the previous year. In general, the import price, however, showed a slight curtailment. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 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 Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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