Norway: Market for Machine Tools For Working Metal Without Removing Metal 2024

Market Size for Machine Tools For Working Metal Without Removing Metal in Norway

In 2021, the Norwegian machine tool for metal market increased by 182% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption saw buoyant growth. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Exports of Machine Tools For Working Metal Without Removing Metal

Exports from Norway

In 2021, the amount of machine tools for working metal without removing metal exported from Norway contracted significantly to X units, with a decrease of -63.1% compared with 2020. Overall, exports, however, showed buoyant growth. The growth pace was the most rapid in 2013 with an increase of 1,096% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, machine tool for metal exports reduced rapidly to $X in 2021. Over the period under review, exports faced a sharp downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 191%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Denmark (X units) was the main destination for machine tool for metal exports from Norway, accounting for a 34% share of total exports. Moreover, machine tool for metal exports to Denmark exceeded the volume sent to the second major destination, Greece (X units), threefold. Singapore (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Denmark stood at +31.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+26.0% per year) and Singapore (+47.6% per year).

In value terms, Denmark ($X) emerged as the key foreign market for machine tools for working metal without removing metal exports from Norway, comprising 35% of total exports. The second position in the ranking was held by Turkey ($X), with a 7.3% share of total exports. It was followed by Singapore, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value to Denmark amounted to +6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-22.1% per year) and Singapore (+29.4% per year).

Export Prices by Country

In 2021, the average machine tool for metal export price amounted to $X per unit, flattening at the previous year. In general, the export price continues to indicate a dramatic contraction. The pace of growth appeared the most rapid in 2015 when the average export price increased by 171%. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Germany ($X per unit), while the average price for exports to Greece ($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 Spain (+1.5%), while the prices for the other major destinations experienced a decline.

Imports of Machine Tools For Working Metal Without Removing Metal

Imports into Norway

In 2021, after three years of decline, there was significant growth in purchases abroad of machine tools for working metal without removing metal, when their volume increased by 93% to X units. Overall, imports posted buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 140% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, machine tool for metal imports skyrocketed to $X in 2021. Over the period under review, imports recorded a moderate increase. The pace of growth appeared the most rapid in 2014 when imports increased by 178% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Australia (X units) constituted the largest supplier of machine tool for metal to Norway, with a 59% share of total imports. Moreover, machine tool for metal imports from Australia exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), threefold. The third position in this ranking was taken by Denmark (X units), with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Australia amounted to +49.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+22.1% per year) and Denmark (+2.9% per year).

In value terms, the largest machine tool for metal suppliers to Norway were Australia ($X), Sweden ($X) and Germany ($X), with a combined 70% share of total imports.

Among the main suppliers, Australia, with a CAGR of +92.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average machine tool for metal import price stood at $X per unit in 2021, jumping by 39% against the previous year. Over the period under review, the import price, however, saw a drastic downturn. The growth pace was the most rapid in 2017 an increase of 71%. As a result, import price attained the peak level of $X per unit. From 2018 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Sweden ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+28.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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