Norway: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Norway

After two years of decline, the Norwegian machine-tool for working metal market increased by 18% to $X in 2021. Overall, the total consumption indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -25.4% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Exports of Machine Tools For Working Metal

Exports from Norway

In 2021, exports of machine tools for working metal from Norway fell notably to X units, waning by -33.8% against the previous year. Over the period under review, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of 35% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, machine-tool for working metal exports fell dramatically to $X in 2021. Overall, exports faced a abrupt slump. The pace of growth appeared the most rapid in 2013 when exports increased by 31% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X units), the UK (X units) and Sweden (X units) were the main destinations of machine-tool for working metal exports from Norway, together comprising 36% of total exports. These countries were followed by Denmark, South Korea, Turkey, the Netherlands, Finland, Greece, Lithuania, Belgium, the United Arab Emirates and China, which together accounted for a further 43%.

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 +21.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for machine-tool for working metal exported from Norway were Turkey ($X), Sweden ($X) and Germany ($X), with a combined 37% share of total exports. These countries were followed by Denmark, the UK, Finland, South Korea, China, the Netherlands, Greece, Lithuania, the United Arab Emirates and Belgium, which together accounted for a further 40%.

Belgium, with a CAGR of +26.8%, 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

In 2021, the average machine-tool for working metal export price amounted to $X per unit, falling by -3.1% against the previous year. In general, export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, machine-tool for working metal export price decreased by -24.3% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 100% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Turkey ($X per unit), while the average price for exports to Belgium ($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 Denmark (+16.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tools For Working Metal

Imports into Norway

In 2021, after two years of decline, there was significant growth in purchases abroad of machine tools for working metal, when their volume increased by 12% to X units. In general, total imports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 44%. As a result, imports reached the peak of X units. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, machine-tool for working metal imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a perceptible descent. The pace of growth was the most pronounced in 2018 when imports increased by 46%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest machine-tool for working metal supplier to Norway, accounting for a 38% share of total imports. Moreover, machine-tool for working metal imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. Bosnia and Herzegovina (X units) ranked third in terms of total imports with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.2% per year) and Bosnia and Herzegovina (0.0% per year).

In value terms, Germany ($X) constituted the largest supplier of machine tools for working metal to Norway, comprising 28% of total imports. The second position in the ranking was held by Italy ($X), with a 14% share of total imports. It was followed by Sweden, with a 9.7% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at -1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.4% per year) and Sweden (-8.3% per year).

Import Prices by Country

The average machine-tool for working metal import price stood at $X per unit in 2021, rising by 4% against the previous year. Over the period under review, the import price, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2019 an increase of 23% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per unit), while the price for Bosnia and Herzegovina ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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