Norway: Market for Non-Electronic Hydro-, Hygro-, Psychrometers 2024

Market Size for Non-Electronic Hydro-, Hygro-, Psychrometers in Norway

The Norwegian non-electronic hydro- and hygrometers market contracted to $X in 2021, falling by -5.5% 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, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Exports of Non-Electronic Hydro-, Hygro-, Psychrometers

Exports from Norway

In 2021, overseas shipments of non-electronic hydro-, hygro-, psychrometers increased by 31% to X units, rising for the third consecutive year after two years of decline. Over the period under review, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 375% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in years to come.

In value terms, non-electronic hydro- and hygrometers exports rose to $X in 2021. Overall, exports saw significant growth. The pace of growth was the most pronounced in 2019 when exports increased by 418% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the near future.

Exports by Country

Sweden (X units), the Netherlands (X units) and China (X units) were the main destinations of non-electronic hydro- and hygrometers exports from Norway, with a combined 56% share of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +110.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), South Korea ($X) and China ($X) constituted the largest markets for non-electronic hydro- and hygrometers exported from Norway worldwide, together accounting for 48% of total exports.

In terms of the main countries of destination, China, with a CAGR of +99.8%, 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

In 2021, the average non-electronic hydro- and hygrometers export price amounted to $X per unit, declining by -21.6% against the previous year. Overall, the export price, however, continues to indicate a prominent expansion. The pace of growth was the most pronounced in 2017 an increase of 43%. As a result, the export price reached the peak level of $X per unit. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Finland ($X per unit), while the average price for exports to Denmark ($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 Finland (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Electronic Hydro-, Hygro-, Psychrometers

Imports into Norway

After two years of growth, supplies from abroad of non-electronic hydro-, hygro-, psychrometers decreased by -4.4% to X units in 2021. Overall, imports, however, posted a mild increase. The most prominent rate of growth was recorded in 2016 when imports increased by 85%. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, non-electronic hydro- and hygrometers imports amounted to $X in 2021. Over the period under review, imports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 224% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of non-electronic hydro- and hygrometers to Norway, with a 62% share of total imports. Moreover, non-electronic hydro- and hygrometers imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), sevenfold. The third position in this ranking was held by Sweden (X units), with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.7% per year) and Sweden (-4.4% per year).

In value terms, China ($X) constituted the largest supplier of non-electronic hydro-, hygro-, psychrometers to Norway, comprising 41% of total imports. The second position in the ranking was held by Finland ($X), with a 14% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (+2.3% per year) and Germany (+7.8% per year).

Import Prices by Country

In 2021, the average non-electronic hydro- and hygrometers import price amounted to $X per unit, surging by 14% against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-electronic hydro- and hygrometers import price decreased by -26.7% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of 75%. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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