Norway: Motor Boat Market 2025

Motor Boat Market Size in Norway

In 2021, the Norwegian motor boat market decreased by -32.1% to $X, falling for the third consecutive year after two years of growth. Overall, consumption saw a perceptible decline. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Motor Boat Production in Norway

In value terms, motor boat production soared to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 52%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Motor Boat Exports

Exports from Norway

In 2021, the amount of motor boats and motor yachts, for pleasure or sports exported from Norway skyrocketed to X units, rising by 121% against the previous year's figure. Overall, exports posted a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 635% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, motor boat exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a pronounced expansion. The growth pace was the most rapid in 2019 when exports increased by 635% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The Netherlands (X units) was the main destination for motor boat exports from Norway, accounting for a 44% share of total exports. Moreover, motor boat exports to the Netherlands exceeded the volume sent to the second major destination, Denmark (X units), twofold. Sweden (X units) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Netherlands stood at +37.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+46.6% per year) and Sweden (+11.8% per year).

In value terms, Sweden ($X), the Netherlands ($X) and Denmark ($X) constituted the largest markets for motor boat exported from Norway worldwide, with a combined 79% share of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of +17.0%, 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

In 2021, the average motor boat export price amounted to $X per unit, shrinking by -31.3% against the previous year. Overall, the export price saw a abrupt contraction. The pace of growth appeared the most rapid in 2016 when the average export price increased by 24%. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per unit), while the average price for exports to Ecuador ($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 Sweden (+2.0%), while the prices for the other major destinations experienced a decline.

Motor Boat Imports

Imports into Norway

In 2021, imports of motor boats and motor yachts, for pleasure or sports into Norway shrank to X units, which is down by -5.9% on the year before. Over the period under review, imports showed a noticeable decline. The most prominent rate of growth was recorded in 2015 with an increase of 70%. Over the period under review, imports attained the peak figure at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, motor boat imports soared to $X in 2021. In general, imports showed a perceptible shrinkage. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Finland (X units), Poland (X units) and the United States (X units) were the main suppliers of motor boat imports to Norway, together accounting for 52% of total imports. The UK, Sweden, Switzerland, Lithuania, Germany, Sri Lanka, Slovenia, France and Denmark lagged somewhat behind, together comprising a further 39%.

From 2012 to 2021, the biggest increases were recorded for Switzerland (with a CAGR of +58.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest motor boat suppliers to Norway were Finland ($X), the UK ($X) and Poland ($X), together comprising 65% of total imports. These countries were followed by Sweden, Lithuania, France, Slovenia, Germany, the United States, Denmark, Switzerland, Sri Lanka and Canada, which together accounted for a further 26%.

Among the main suppliers, Switzerland, with a CAGR of +54.8%, 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

In 2021, the average motor boat import price amounted to $X per unit, jumping by 36% against the previous year. In general, the import price enjoyed modest growth. The most prominent rate of growth was recorded in 2020 an increase of 93%. Over the period under review, average import prices attained the maximum in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per unit), while the price for Canada ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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