Norway: Inductor Market 2024

Inductor Market Size in Norway

In 2022, after two years of growth, there was decline in the Norwegian inductor market, when its value decreased by -0.2% to $X. In general, consumption, however, saw temperate growth. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Inductor Exports

Exports from Norway

In 2022, shipments abroad of inductors increased by 34% to X units, rising for the third consecutive year after two years of decline. Overall, exports recorded a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of 291% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, inductor exports surged to $X in 2022. In general, exports saw a strong increase. The pace of growth was the most pronounced in 2013 when exports increased by 343% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units), Russia (X units) and France (X units) were the main destinations of inductor exports from Norway, with a combined 51% share of total exports. Germany, Finland, Poland, Sweden, Switzerland, South Korea, Malaysia, the Czech Republic, the Netherlands and Italy lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +76.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for inductors exports from Norway, comprising 42% of total exports. The second position in the ranking was held by Finland ($X), with a 6.9% share of total exports. It was followed by Poland, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +39.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+19.8% per year) and Poland (+38.6% per year).

Export Prices by Country

In 2022, the average inductor export price amounted to $X per unit, with an increase of 10% against the previous year. In general, the export price enjoyed a tangible increase. The pace of growth appeared the most rapid in 2016 an increase of 87%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the average export prices failed to regain momentum.

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 the United States ($X per unit), while the average price for exports to Russia ($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 the United States (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Inductor Imports

Imports into Norway

In 2022, after two years of growth, there was significant decline in purchases abroad of inductors, when their volume decreased by -8.7% to X units. Over the period under review, imports, however, continue to indicate a pronounced increase. The most prominent rate of growth was recorded in 2017 when imports increased by 251% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, inductor imports rose rapidly to $X in 2022. Overall, imports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2017 when imports increased by 138%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Austria (X units), China (X units) and Germany (X units) were the main suppliers of inductor imports to Norway, with a combined 70% share of total imports. The Czech Republic, Finland, Sweden and the UK lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +23.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of inductors to Norway, comprising 30% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports. It was followed by Austria, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.5% per year) and Austria (-1.8% per year).

Import Prices by Country

In 2022, the average inductor import price amounted to $X per unit, surging by 23% against the previous year. Over the period under review, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, inductor import price increased by +46.2% against 2020 indices. The most prominent rate of growth was recorded in 2015 an increase of 57% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

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 Germany ($X per unit), while the price for Austria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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