Norway: Grinding Machine Market 2024

Grinding Machine Market Size in Norway

The Norwegian grinding machine market reduced sharply to $X in 2021, waning by -41.1% against the previous year. Over the period under review, consumption, however, saw a strong increase. As a result, consumption attained the peak level of $X, and then reduced notably in the following year.

Grinding Machine Production in Norway

In value terms, grinding machine production dropped dramatically to $X in 2021 estimated in export price. In general, production, however, showed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 266%. As a result, production attained the peak level of $X, and then reduced sharply in the following year.

Grinding Machine Exports

Exports from Norway

In 2021, grinding machine exports from Norway shrank slightly to X units, approximately equating 2020 figures. In general, exports continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2015 with an increase of 106% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, grinding machine exports contracted dramatically to $X in 2021. Overall, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 39% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for grinding machine exports from Norway, accounting for a 57% share of total exports. Moreover, grinding machine exports to the United Arab Emirates exceeded the volume sent to the second major destination, the United States (X units), fivefold. The third position in this ranking was held by Chile (X units), with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates totaled +166.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+2.9% per year) and Chile (+31.0% per year).

In value terms, the United States ($X) emerged as the key foreign market for machines having individual functions, for mixing, kneading, crushing or grinding exports from Norway, comprising 31% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 14% share of total exports. It was followed by Chile, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+130.7% per year) and Chile (+27.7% per year).

Export Prices by Country

In 2021, the average grinding machine export price amounted to $X per unit, declining by -70.6% against the previous year. Overall, the export price continues to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 when the average export price increased by 35% against the previous year. As a result, the export price attained 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 the United States ($X per unit), while the average price for exports to the United Arab Emirates ($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 Poland (-1.3%), while the prices for the other major destinations experienced a decline.

Grinding Machine Imports

Imports into Norway

For the fourth year in a row, Norway recorded growth in overseas purchases of machines having individual functions, for mixing, kneading, crushing or grinding, which increased by 3.6% to X units in 2021. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when imports increased by 40% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, grinding machine imports declined to $X in 2021. Over the period under review, imports, however, recorded a noticeable decrease. The growth pace was the most rapid in 2016 with an increase of 23%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest grinding machine supplier to Norway, with a 29% share of total imports. Moreover, grinding machine imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. Sweden (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +38.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.3% per year) and Sweden (+0.8% per year).

In value terms, Germany ($X), Italy ($X) and Sweden ($X) constituted the largest grinding machine suppliers to Norway, together accounting for 62% of total imports. Austria, the Netherlands, the UK, Ireland, Denmark, the United States, China, France, Spain and India lagged somewhat behind, together accounting for a further 29%.

Among the main suppliers, China, with a CAGR of +32.0%, saw 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 grinding machine import price stood at $X per unit in 2021, waning by -14.7% against the previous year. Overall, the import price continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2014 when the average import price increased by 25% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 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 the Netherlands ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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