Norway: Market for Iron or Steel Leaf-Springs and Leaves 2024

Market Size for Iron or Steel Leaf-Springs and Leaves in Norway

For the third year in a row, the Norwegian iron or steel leaf-spring market recorded growth in sales value, which increased by 5.1% to $X in 2022. Overall, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% 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 +41.5% against 2019 indices. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Norway

In 2022, the amount of iron or steel leaf-springs and leaves exported from Norway rose remarkably to X tons, picking up by 12% compared with the previous year. Over the period under review, exports, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2017 with an increase of 123%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, iron or steel leaf-spring exports surged to $X in 2022. In general, exports saw a temperate expansion. The pace of growth was the most pronounced in 2020 when exports increased by 322% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden (X tons), Belgium (X kg) and Finland (X kg) were the main destinations of iron or steel leaf-spring exports from Norway, together comprising 77% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Finland (with a CAGR of +52.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron or steel leaf-spring exported from Norway were Finland ($X), Sweden ($X) and Belgium ($X), together accounting for 58% of total exports.

Finland, with a CAGR of +51.5%, recorded 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 2022, the average iron or steel leaf-spring export price amounted to $X per ton, surging by 3.8% against the previous year. Overall, the export price continues to indicate a resilient increase. The pace of growth was the most pronounced in 2020 when the average export price increased by 150% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Sweden ($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 Lithuania (+68.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into Norway

For the third consecutive year, Norway recorded growth in purchases abroad of iron or steel leaf-springs and leaves, which increased by 9.4% to X tons in 2022. In general, total imports indicated a measured increase from 2012 to 2022: its volume 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, imports increased by +26.0% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 38%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, iron or steel leaf-spring imports expanded to $X in 2022. Over the period under review, total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.9% 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 +43.2% against 2019 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 28%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Germany (X tons), Belgium (X tons) and Spain (X tons) were the main suppliers of iron or steel leaf-spring imports to Norway, together comprising 43% of total imports. Austria, Poland, Sweden, Latvia, the Czech Republic, Romania, Denmark, the UK, China and the Netherlands lagged somewhat behind, together comprising a further 50%.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +118.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel leaf-spring suppliers to Norway were Sweden ($X), Spain ($X) and Germany ($X), together comprising 47% of total imports. Belgium, Poland, Austria, Denmark, the Netherlands, the UK, Romania, Latvia, the Czech Republic and China lagged somewhat behind, together comprising a further 43%.

Among the main suppliers, Latvia, with a CAGR of +73.9%, saw the highest growth rate of 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 iron or steel leaf-spring import price stood at $X per ton in 2022, with a decrease of -4.5% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 16% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Sweden ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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