Norway: Knitting Machines Market 2024

Knitting Machines Market Size in Norway

The Norwegian knitting machines market fell markedly to $X in 2021, waning by -70.9% against the previous year. Over the period under review, consumption, however, posted significant growth. Over the period under review, the market attained the maximum level at $X in 2020, and then shrank markedly in the following year.

Knitting Machines Production in Norway

In value terms, knitting machines production reduced slightly to $X in 2021 estimated in export price. Overall, production saw a deep slump. The pace of growth appeared the most rapid in 2016 when the production volume increased by 11%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Knitting Machines Exports

Exports from Norway

Knitting machines exports from Norway surged to X units in 2021, picking up by 66% compared with 2020. Overall, total exports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, knitting machines exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a significant decrease. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Sweden (X units) was the main destination for knitting machines exports from Norway, accounting for a 91% share of total exports. Moreover, knitting machines exports to Sweden exceeded the volume sent to the second major destination, Germany (X units), more than tenfold. The third position in this ranking was taken by Lithuania (X units), with a 1.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sweden totaled +23.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+11.1% per year) and Lithuania (-34.5% per year).

In value terms, the largest markets for knitting machines exported from Norway were Sweden ($X), Germany ($X) and Lithuania ($X), together comprising 97% of total exports.

In terms of the main countries of destination, Sweden, with a CAGR of +3.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average knitting machines export price amounted to $X per unit, with an increase of 70% against the previous year. Over the period under review, the export price, however, faced a precipitous contraction. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per unit), while the average price for exports to France ($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 Germany (-9.4%), while the prices for the other major destinations experienced a decline.

Knitting Machines Imports

Imports into Norway

Knitting machines imports into Norway declined markedly to X units in 2021, which is down by -68.2% on 2020. Overall, imports, however, continue to indicate significant growth. The growth pace was the most rapid in 2020 when imports increased by 551% against the previous year. As a result, imports attained the peak of X units, and then contracted remarkably in the following year.

In value terms, knitting machines imports declined remarkably to $X in 2021. In general, imports, however, posted a pronounced expansion. The most prominent rate of growth was recorded in 2015 with an increase of 433%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Germany (X units), China (X units) and Japan (X units) were the main suppliers of knitting machines imports to Norway, together accounting for 87% of total imports. These countries were followed by the UK, India, Denmark and Spain, which together accounted for a further 8.1%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +81.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest knitting machines suppliers to Norway were Germany ($X), Japan ($X) and Spain ($X), with a combined 83% share of total imports. These countries were followed by China, the UK, Denmark and India, which together accounted for a further 5.2%.

India, with a CAGR of +103.5%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average knitting machines import price stood at $X per unit in 2021, with an increase of 130% against the previous year. Overall, the import price, however, continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2013 when the average import price increased by 226%. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average 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 Spain ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+14.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform