Norway: Interchangeable Spanner Socket Market 2025

Interchangeable Spanner Socket Market Size in Norway

The Norwegian interchangeable spanner socket market surged to $X in 2022, rising by 17% 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). Overall, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +87.4% against 2016 indices. Interchangeable spanner socket consumption peaked in 2022 and is likely to continue growth in the immediate term.

Interchangeable Spanner Socket Exports

Exports from Norway

In 2022, the amount of interchangeable spanner sockets exported from Norway skyrocketed to X tons, with an increase of 36% compared with the previous year's figure. Overall, exports, however, continue to indicate a pronounced descent. The growth pace was the most rapid in 2014 with an increase of 187% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, interchangeable spanner socket exports soared to $X in 2022. Over the period under review, exports, however, showed a mild downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 96%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Denmark (X tons), the UK (X tons) and Sweden (X tons) were the main destinations of interchangeable spanner socket exports from Norway, together comprising 59% of total exports. Turkey, Finland, France, the United Arab Emirates, Germany, Trinidad and Tobago, the Netherlands and Chile lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +2,396.0%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Denmark ($X) and Sweden ($X) appeared to be the largest markets for interchangeable spanner socket exported from Norway worldwide, together accounting for 54% of total exports. Turkey, the United Arab Emirates, the Netherlands, Trinidad and Tobago, Chile, France, Germany and Finland lagged somewhat behind, together comprising a further 24%.

Among the main countries of destination, Turkey, with a CAGR of +1,452.5%, 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

The average interchangeable spanner socket export price stood at $X per ton in 2022, growing by 37% against the previous year. In general, the export price posted a tangible expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 90%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Spanner Socket Imports

Imports into Norway

In 2022, imports of interchangeable spanner sockets into Norway soared to X tons, rising by 20% compared with the previous year. In general, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.7% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, interchangeable spanner socket imports soared to $X in 2022. Over the period under review, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.2% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 26% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

Taiwan (Chinese) (X tons), China (X tons) and the Netherlands (X tons) were the main suppliers of interchangeable spanner socket imports to Norway, with a combined 91% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +12.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of interchangeable spanner sockets to Norway, comprising 53% of total imports. The second position in the ranking was held by China ($X), with a 21% share of total imports. It was followed by the United States, with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Taiwan (Chinese) amounted to +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.7% per year) and the United States (+6.7% per year).

Import Prices by Country

The average interchangeable spanner socket import price stood at $X per ton in 2022, falling by -2.9% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 17% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 the United States ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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