Norway: Starter Battery Market 2024

Starter Battery Market Size in Norway

In 2022, after two years of growth, there was significant decline in the Norwegian starter battery market, when its value decreased by -11.5% to $X. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Starter Battery Exports

Exports from Norway

In 2022, starter battery exports from Norway contracted modestly to X units, stabilizing at the previous year's figure. The total export volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 30% against the previous year. Over the period under review, the exports reached the maximum at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, starter battery exports stood at $X in 2022. The total export value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 38% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

Iceland (X units) was the main destination for starter battery exports from Norway, with a 66% share of total exports. Moreover, starter battery exports to Iceland exceeded the volume sent to the second major destination, Sweden (X units), threefold. Denmark (X units) ranked third in terms of total exports with a 7.5% share.

From 2012 to 2022, the average annual growth rate of volume to Iceland amounted to +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-5.3% per year) and Denmark (+27.6% per year).

In value terms, Iceland ($X) remains the key foreign market for lead-acid accumulators for starting piston engines exports from Norway, comprising 58% of total exports. The second position in the ranking was held by Sweden ($X), with a 19% share of total exports. It was followed by Denmark, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Iceland amounted to +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-7.5% per year) and Denmark (+37.2% per year).

Export Prices by Country

The average starter battery export price stood at $X per unit in 2022, flattening at the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 22%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the average price for exports to Iceland ($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 Denmark (+7.5%), while the prices for the other major destinations experienced mixed trend patterns.

Starter Battery Imports

Imports into Norway

In 2022, after two years of growth, there was significant decline in supplies from abroad of lead-acid accumulators for starting piston engines, when their volume decreased by -9.9% to X units. The total import volume increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 23%. As a result, imports reached the peak of X units, and then shrank in the following year.

In value terms, starter battery imports declined to $X in 2022. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 35% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

South Korea (X units), Spain (X units) and Sweden (X units) were the main suppliers of starter battery imports to Norway, together comprising 44% of total imports. China, Germany, Italy, the Czech Republic, Poland, Austria, Bulgaria and the Netherlands lagged somewhat behind, together comprising a further 46%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +16.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Germany ($X) and Spain ($X) constituted the largest starter battery suppliers to Norway, together accounting for 46% of total imports. Sweden, Italy, China, the Czech Republic, Poland, Austria, Bulgaria and the Netherlands lagged somewhat behind, together comprising a further 42%.

Italy, with a CAGR of +15.4%, recorded the highest growth rate of 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

The average starter battery import price stood at $X per unit in 2022, declining by -2% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 9.9%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 Austria ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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