Norway: Hydraulic Automatic Regulators Market 2024

Hydraulic Automatic Regulators Market Size in Norway

The Norwegian hydraulic automatic regulators market was finally on the rise to reach $X in 2021, after three years of decline. Overall, consumption, however, showed a perceptible downturn. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Hydraulic Automatic Regulators Production in Norway

In value terms, hydraulic automatic regulators production declined slightly to $X in 2021 estimated in export price. Overall, production saw a perceptible setback. The pace of growth appeared the most rapid in 2013 when the production volume increased by 33%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Hydraulic Automatic Regulators Exports

Exports from Norway

After two years of growth, shipments abroad of hydraulic or pneumatic automatic regulating instruments decreased by -88.4% to X units in 2021. Overall, exports, however, saw prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 373% against the previous year. As a result, the exports attained the peak of X units, and then fell remarkably in the following year.

In value terms, hydraulic automatic regulators exports shrank remarkably to $X in 2021. In general, exports, however, enjoyed a slight increase. The pace of growth was the most pronounced in 2013 with an increase of 127%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

The Netherlands (X units), the United States (X units) and Finland (X units) were the main destinations of hydraulic automatic regulators exports from Norway, with a combined 55% share of total exports. These countries were followed by Italy, Brazil, Angola, Turkey, Germany, China, the UK, Poland and Denmark, which together accounted for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +73.2%), while the other leaders experienced more modest paces of growth.

In value terms, Angola ($X), the United States ($X) and the UK ($X) appeared to be the largest markets for hydraulic automatic regulators exported from Norway worldwide, together accounting for 52% of total exports.

Angola, with a CAGR of +62.8%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination 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 hydraulic automatic regulators export price amounted to $X per unit, increasing by 342% against the previous year. Overall, the export price, however, continues to indicate a perceptible setback. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the UK ($X per unit), while the average price for exports to Brazil ($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 Angola (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Hydraulic Automatic Regulators Imports

Imports into Norway

In 2021, supplies from abroad of hydraulic or pneumatic automatic regulating instruments decreased by -9.5% to X units, falling for the second year in a row after four years of growth. In general, imports, however, continue to indicate a noticeable increase. The most prominent rate of growth was recorded in 2017 with an increase of 97% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, hydraulic automatic regulators imports expanded significantly to $X in 2021. Overall, total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -42.8% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 51% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Italy (X units) constituted the largest hydraulic automatic regulators supplier to Norway, accounting for a 29% share of total imports. Moreover, hydraulic automatic regulators imports from Italy exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. The third position in this ranking was taken by Finland (X units), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Italy amounted to +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+35.5% per year) and Finland (+0.2% per year).

In value terms, the largest hydraulic automatic regulators suppliers to Norway were the United States ($X), Germany ($X) and the UK ($X), with a combined 67% share of total imports.

In terms of the main suppliers, the United States, with a CAGR of +35.2%, 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

The average hydraulic automatic regulators import price stood at $X per unit in 2021, growing by 18% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 41% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+9.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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