Norway: Lift And Hoist Market 2024

Lift And Hoist Market Size in Norway

In 2022, the Norwegian lift and hoist market increased by 16% to $X, rising for the sixth consecutive year after three years of decline. In general, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +131.2% against 2016 indices. Lift and hoist consumption peaked in 2022 and is expected to retain growth in the near future.

Lift And Hoist Exports

Exports from Norway

In 2022, shipments abroad of lifts and hoists decreased by -14.9% to X units, falling for the fifth consecutive year after two years of growth. Over the period under review, exports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2016 with an increase of 65%. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, lift and hoist exports contracted modestly to $X in 2022. In general, exports saw a pronounced setback. The most prominent rate of growth was recorded in 2017 with an increase of 105%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X units), the Netherlands (X units) and Azerbaijan (X units) were the main destinations of lift and hoist exports from Norway, together accounting for 67% of total exports. Sweden, Iceland, Italy, Poland, Curacao, Germany, Hungary, Bahamas, Spain and the United States lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +28.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lift and hoist exported from Norway were the UK ($X), the Netherlands ($X) and Sweden ($X), together accounting for 64% of total exports. Poland, Spain, Iceland, Italy, Germany, Azerbaijan, Hungary, Bahamas, Curacao and the United States lagged somewhat behind, together comprising a further 18%.

Poland, with a CAGR of +29.8%, saw the highest growth rate of 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 lift and hoist export price stood at $X per unit in 2022, rising by 17% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average export price increased by 191%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to Curacao ($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 Spain (+27.3%), while the prices for the other major destinations experienced more modest paces of growth.

Lift And Hoist Imports

Imports into Norway

For the fourth consecutive year, Norway recorded growth in supplies from abroad of lifts and hoists, which increased by 22% to X units in 2022. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.0% 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 +71.8% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of 31% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, lift and hoist imports expanded rapidly to $X in 2022. The total import value increased at an average annual rate of +1.5% 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 2017 with an increase of 30% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

The Netherlands (X units), China (X units) and Finland (X units) were the main suppliers of lift and hoist imports to Norway, together comprising 46% of total imports. Germany, Sweden, Spain, Canada, Slovakia, Italy, Denmark, the UK and France lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +86.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Finland ($X) and Slovakia ($X) appeared to be the largest lift and hoist suppliers to Norway, with a combined 44% share of total imports.

Slovakia, with a CAGR of +80.7%, saw 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

In 2022, the average lift and hoist import price amounted to $X per unit, which is down by -11.1% against the previous year. Over the period under review, the import price continues to indicate a noticeable decrease. The pace of growth was the most pronounced in 2021 an increase of 18% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 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 France ($X per unit), while the price for Canada ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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