Norway: Working Wire Machine Market 2024

Working Wire Machine Market Size in Norway

The Norwegian working wire machine market soared to $X in 2021, jumping by 266% against the previous year. In general, consumption recorded a significant expansion. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Working Wire Machine Production in Norway

In value terms, working wire machine production stood at $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 27% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Working Wire Machine Exports

Exports from Norway

In 2021, shipments abroad of machines for working wire increased by 12% to X units, rising for the second year in a row after three years of decline. In general, exports, however, continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2016 with an increase of 10,900% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, working wire machine exports amounted to $X in 2021. Overall, exports, however, recorded a significant curtailment. The pace of growth was the most pronounced in 2016 when exports increased by 550,879%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for working wire machine exports from Norway, with a 90% share of total exports. Moreover, working wire machine exports to the United States exceeded the volume sent to the second major destination, Sweden (X units), more than tenfold. Denmark (X units) ranked third in terms of total exports with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +23.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-21.7% per year) and Denmark (-14.3% per year).

In value terms, China ($X) remains the key foreign market for machines for working wire exports from Norway, comprising 43% of total exports. The second position in the ranking was taken by the United States ($X), with a 14% share of total exports. It was followed by Denmark, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at -31.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+15.7% per year) and Denmark (+5.6% per year).

Export Prices by Country

The average working wire machine export price stood at $X per unit in 2021, reducing by -6.1% against the previous year. Overall, the export price showed a significant curtailment. The pace of growth appeared the most rapid in 2016 an increase of 4,912% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to the United States ($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 (+29.1%), while the prices for the other major destinations experienced a decline.

Working Wire Machine Imports

Imports into Norway

Working wire machine imports into Norway soared to X units in 2021, rising by 2,411% compared with 2020. Over the period under review, imports showed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 56,167% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, working wire machine imports skyrocketed to $X in 2021. Overall, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2019 with an increase of 59,445% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Taiwan (Chinese) (X units), Austria (X units) and Denmark (X units) were the main suppliers of working wire machine imports to Norway, with a combined 69% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +63.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), the Netherlands ($X) and Austria ($X) constituted the largest working wire machine suppliers to Norway, with a combined 27% share of total imports.

Austria, with a CAGR of +75.5%, recorded 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

The average working wire machine import price stood at $X per unit in 2021, with an increase of 298% against the previous year. In general, the import price continues to indicate a prominent expansion. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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 the Netherlands ($X per unit), while the price for the United States ($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 UK (+17.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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