Norway: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Norway

The Norwegian mechanical shovel and excavator market soared to $X in 2021, growing by 50% 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). In general, consumption, however, saw a pronounced curtailment. Mechanical shovel and excavator consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Norway

In 2021, after three years of growth, there was significant decline in overseas shipments of mechanical shovels, excavators and shovel loaders, when their volume decreased by -5.5% to X units. Overall, exports, however, posted a prominent increase. The growth pace was the most rapid in 2020 with an increase of 42% against the previous year. As a result, the exports attained the peak of X units, and then shrank in the following year.

In value terms, mechanical shovel and excavator exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2020 when exports increased by 60% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

Exports by Country

Sweden (X units), Poland (X units) and the Netherlands (X units) were the main destinations of mechanical shovel and excavator exports from Norway, together comprising 57% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +50.3%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) remains the key foreign market for mechanical shovels, excavators and shovel loaders exports from Norway, comprising 35% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 13% share of total exports. It was followed by Germany, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Sweden totaled +16.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+16.6% per year) and Germany (+11.1% per year).

Export Prices by Country

In 2021, the average mechanical shovel and excavator export price amounted to $X per unit, growing by 30% against the previous year. Over the last nine years, it increased at an average annual rate of +2.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Latvia ($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 Germany (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Norway

In 2021, mechanical shovel and excavator imports into Norway skyrocketed to X units, with an increase of 27% against 2020 figures. Over the period under review, imports, however, recorded a relatively flat trend pattern. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, mechanical shovel and excavator imports skyrocketed to $X in 2021. Overall, imports, however, recorded a mild curtailment. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Japan (X units), China (X units) and Germany (X units) were the main suppliers of mechanical shovel and excavator imports to Norway, together accounting for 54% of total imports. These countries were followed by Sweden, Finland, the UK, France, South Korea, the Netherlands, the Czech Republic, the United States, Belgium and Denmark, which together accounted for a further 42%.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +37.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Germany ($X) and Sweden ($X) appeared to be the largest mechanical shovel and excavator suppliers to Norway, with a combined 61% share of total imports. These countries were followed by South Korea, China, France, the UK, the Netherlands, the United States, Finland, Belgium, the Czech Republic and Denmark, which together accounted for a further 35%.

The Czech Republic, with a CAGR of +48.3%, saw the highest rates of growth with regard to the value of imports, among 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 mechanical shovel and excavator import price stood at $X per unit in 2021, remaining constant against the previous year. In general, the import price, however, recorded a slight reduction. The most prominent rate of growth was recorded in 2018 when the average import price increased by 9.7%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat 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 Sweden ($X per unit), while the price for Finland ($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 Czech Republic (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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