Norway: Marine Gps Navigator Market 2024

Marine Gps Navigator Market Size in Norway

The Norwegian marine GPS navigator market contracted remarkably to $X in 2022, falling by -18.3% against the previous year. Overall, consumption, however, recorded significant growth. As a result, consumption attained the peak level of $X, and then shrank sharply in the following year.

Marine Gps Navigator Production in Norway

In value terms, marine GPS navigator production declined sharply to $X in 2022 estimated in export price. Overall, production recorded a abrupt downturn. The pace of growth was the most pronounced in 2021 when the production volume increased by 91% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Marine Gps Navigator Exports

Exports from Norway

In 2022, after four years of growth, there was significant decline in shipments abroad of marine or river navigation instruments and appliances, when their volume decreased by -31.5% to X units. In general, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2014 when exports increased by 76% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, marine GPS navigator exports declined sharply to $X in 2022. Over the period under review, exports saw a perceptible decline. The most prominent rate of growth was recorded in 2021 with an increase of 59% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X units), the United States (X units) and Spain (X units) were the main destinations of marine GPS navigator exports from Norway, with a combined 31% share of total exports. The UK, the Netherlands, Vietnam, South Korea, Denmark, France, Bangladesh, Singapore, Brazil and Peru lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +52.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the UK ($X) and Spain ($X) were the largest markets for marine GPS navigator exported from Norway worldwide, with a combined 30% share of total exports. The Netherlands, Turkey, South Korea, Denmark, Singapore, France, Brazil, Vietnam, Peru and Bangladesh lagged somewhat behind, together comprising a further 37%.

Among the main countries of destination, Vietnam, with a CAGR of +46.5%, recorded 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 marine GPS navigator export price stood at $X per unit in 2022, rising by 10% against the previous year. Overall, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, marine GPS navigator export price increased by +34.2% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 26% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Marine Gps Navigator Imports

Imports into Norway

In 2022, supplies from abroad of marine or river navigation instruments and appliances decreased by -19.5% to X units, falling for the second consecutive year after six years of growth. In general, imports recorded a mild shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 13% against the previous year. Over the period under review, imports reached the maximum at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, marine GPS navigator imports surged to $X in 2022. Over the period under review, total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +112.0% against 2018 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 46%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the United States (X units) constituted the largest marine GPS navigator supplier to Norway, with a 41% share of total imports. Moreover, marine GPS navigator imports from the United States exceeded the figures recorded by the second-largest supplier, Japan (X units), fourfold. The third position in this ranking was held by the UK (X units), with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.2% per year) and the UK (-0.0% per year).

In value terms, the United States ($X) constituted the largest supplier of marine or river navigation instruments and appliances to Norway, comprising 38% of total imports. The second position in the ranking was held by the UK ($X), with a 12% share of total imports. It was followed by Taiwan (Chinese), with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-0.5% per year) and Taiwan (Chinese) (+22.0% per year).

Import Prices by Country

The average marine GPS navigator import price stood at $X per unit in 2022, increasing by 80% against the previous year. Over the period under review, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+16.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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