Norway: Lithium-Ion Accumulator Market 2024

Lithium-Ion Accumulator Market Size in Norway

The Norwegian lithium-ion accumulator market skyrocketed to $X in 2021, jumping by 49% 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, consumption continues to indicate a significant expansion. Lithium-ion accumulator consumption peaked in 2021 and is expected to retain growth in years to come.

Lithium-Ion Accumulator Exports

Exports from Norway

Lithium-ion accumulator exports from Norway soared to X units in 2021, jumping by 215% against the previous year's figure. Overall, exports showed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, lithium-ion accumulator exports soared to $X in 2021. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 177% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Sweden (X units), Denmark (X units) and Germany (X units) were the main destinations of lithium-ion accumulator exports from Norway, together comprising 73% of total exports. These countries were followed by the United States, Finland, Turkey and Estonia, which together accounted for a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +400.7%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the key foreign market for lithium-ion accumulators exports from Norway, comprising 28% of total exports. The second position in the ranking was held by Sweden ($X), with a 7.2% share of total exports. It was followed by the United States, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value to Turkey stood at +458.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+94.0% per year) and the United States (+20.5% per year).

Export Prices by Country

The average lithium-ion accumulator export price stood at $X per unit in 2021, which is down by -46.7% against the previous year. In general, the export price continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 when the average export price increased by 83%. Over the period under review, the average export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Turkey ($X per unit), while the average price for exports to Denmark ($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 Turkey (+15.3%), while the prices for the other major destinations experienced more modest paces of growth.

Lithium-Ion Accumulator Imports

Imports into Norway

For the tenth year in a row, Norway recorded growth in purchases abroad of lithium-ion accumulators, which increased by 127% to X units in 2021. Over the period under review, imports continue to indicate a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, lithium-ion accumulator imports skyrocketed to $X in 2021. In general, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 80%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, China (X units) constituted the largest lithium-ion accumulator supplier to Norway, accounting for a 67% share of total imports. Moreover, lithium-ion accumulator imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), eightfold. The third position in this ranking was held by Hong Kong SAR (X units), with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +33.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+54.3% per year) and Hong Kong SAR (+80.0% per year).

In value terms, China ($X) constituted the largest supplier of lithium-ion accumulators to Norway, comprising 30% of total imports. The second position in the ranking was held by South Korea ($X), with a 14% share of total imports. It was followed by Germany, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +33.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+62.5% per year) and Germany (+57.8% per year).

Import Prices by Country

In 2021, the average lithium-ion accumulator import price amounted to $X per unit, shrinking by -31.3% against the previous year. Over the period under review, the import price, however, continues to indicate measured growth. The most prominent rate of growth was recorded in 2013 an increase of 50%. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform