Norway: Public Works Machinery Market 2024

Public Works Machinery Market Size in Norway

The Norwegian public works machinery market rose remarkably to $X in 2021, growing by 9.1% 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 showed a relatively flat trend pattern. Over the period under review, the market hit record highs in 2021 and is likely to see gradual growth in the immediate term.

Public Works Machinery Exports

Exports from Norway

In 2021, approx. X units of machinery for public works and building were exported from Norway; dropping by -46.8% on 2020 figures. Over the period under review, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 119% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, public works machinery exports shrank to $X in 2021. Overall, exports saw a pronounced decline. The pace of growth appeared the most rapid in 2016 with an increase of 44%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Sweden (X units), the UK (X units) and Italy (X units) were the main destinations of public works machinery exports from Norway, together comprising 43% of total exports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +69.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for public works machinery exported from Norway were Italy ($X), Russia ($X) and Germany ($X), with a combined 41% share of total exports.

In terms of the main countries of destination, Italy, with a CAGR of +179.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average public works machinery export price stood at $X per unit in 2021, picking up by 67% against the previous year. Overall, the export price enjoyed a noticeable increase. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Belgium ($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 Spain (+20.2%), while the prices for the other major destinations experienced more modest paces of growth.

Public Works Machinery Imports

Imports into Norway

In 2021, public works machinery imports into Norway expanded slightly to X units, growing by 4.4% compared with the year before. In general, imports, however, recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2017 when imports increased by 29%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, public works machinery imports stood at $X in 2021. The total import value increased at an average annual rate of +1.4% from 2012 to 2021; 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 33% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

The UK (X units), Sweden (X units) and Germany (X units) were the main suppliers of public works machinery imports to Norway, together accounting for 49% of total imports. These countries were followed by the United States, Italy, Finland, Spain, the Netherlands, France, Estonia, China, Denmark and Belgium, which together accounted for a further 47%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +22.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of machinery for public works and building to Norway, comprising 48% of total imports. The second position in the ranking was held by Finland ($X), with an 18% share of total imports. It was followed by Sweden, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (+14.6% per year) and Sweden (-4.8% per year).

Import Prices by Country

In 2021, the average public works machinery import price amounted to $X per unit, standing approx. at the previous year. Over the period under review, import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, public works machinery import price decreased by -23.9% against 2017 indices. The most prominent rate of growth was recorded in 2014 an increase of 66%. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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