Norway: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in Norway

The Norwegian industrial sewing machine market contracted notably to $X in 2022, reducing by -37.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then shrank rapidly in the following year.

Industrial Sewing Machine Exports

Exports from Norway

In 2022, the amount of industrial sewing machines exported from Norway dropped to X units, waning by -10.5% compared with 2021 figures. Over the period under review, exports recorded a pronounced descent. The most prominent rate of growth was recorded in 2013 with an increase of 178%. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, industrial sewing machine exports contracted rapidly to $X in 2022. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 101% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X units), Sweden (X units) and the Netherlands (X units) were the main destinations of industrial sewing machine exports from Norway, together comprising 67% of total exports. Denmark, Iceland, Romania, Guinea, Liberia, Lithuania, Poland, Greece and Ireland lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +300.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for industrial sewing machine exported from Norway were Iceland ($X), Ireland ($X) and Greece ($X), with a combined 46% share of total exports. Sweden, Lithuania, Germany, Denmark, Poland, the Netherlands, Romania, Guinea and Liberia lagged somewhat behind, together comprising a further 29%.

Romania, with a CAGR of +681.3%, 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

The average industrial sewing machine export price stood at $X per unit in 2022, waning by -48.3% against the previous year. Over the period under review, the export price, however, continues to indicate a tangible expansion. The pace of growth appeared the most rapid in 2018 an increase of 143% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2020; however, from 2021 to 2022, the 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 Ireland ($X per unit), while the average price for exports to Liberia ($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 Romania (+95.3%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Sewing Machine Imports

Imports into Norway

In 2022, purchases abroad of industrial sewing machines decreased by -40.5% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 125%. As a result, imports attained the peak of X units, and then declined sharply in the following year.

In value terms, industrial sewing machine imports reduced sharply to $X in 2022. In general, imports showed a mild downturn. The most prominent rate of growth was recorded in 2018 with an increase of 52%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Vietnam (X units) and Taiwan (Chinese) (X units) were the main suppliers of industrial sewing machine imports to Norway, with a combined 75% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +32.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial sewing machine suppliers to Norway were Germany ($X), China ($X) and Taiwan (Chinese) ($X), with a combined 61% share of total imports. Vietnam, Poland, Japan, the Netherlands, Denmark and Sweden lagged somewhat behind, together accounting for a further 27%.

Vietnam, with a CAGR of +30.2%, saw the highest rates of growth with regard to 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 industrial sewing machine import price amounted to $X per unit, increasing by 21% against the previous year. Overall, the import price, however, showed a mild decrease. The pace of growth was the most pronounced in 2019 an increase of 105%. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Vietnam ($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 (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :