Norway: Outboard Boat Motors Market 2024

Outboard Boat Motors Market Size in Norway

The Norwegian outboard boat motors market shrank to $X in 2022, falling by X% 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). The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Outboard Boat Motors Exports

Exports from Norway

For the third consecutive year, Norway recorded decline in shipments abroad of outboard motors for marine propulsion, which decreased by X% to X units in 2022. Overall, exports saw a deep downturn. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, outboard boat motors exports reduced sharply to $X in 2022. Over the period under review, exports recorded a sharp slump. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Poland (X units), Nigeria (X units) and Australia (X units) were the main destinations of outboard boat motors exports from Norway, with a combined X% share of total exports.

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

In value terms, Poland ($X), Sweden ($X) and Hungary ($X) constituted the largest markets for outboard boat motors exported from Norway worldwide, together comprising X% of total exports. Germany, the United States, Finland, Australia, Nigeria, China, Belgium and Congo lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Australia, with a CAGR of X%, saw the highest rates of growth with regard to 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 outboard boat motors export price stood at $X per unit in 2022, declining by X% against the previous year. Over the period under review, the export price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Congo ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Outboard Boat Motors Imports

Imports into Norway

Outboard boat motors imports into Norway reached X units in 2022, with an increase of X% compared with the previous year. In general, imports continue to indicate modest growth. The pace of growth appeared the most rapid in 2015 when imports increased by X%. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, outboard boat motors imports reduced to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of outboard boat motors to Norway, accounting for a X% share of total imports. Moreover, outboard boat motors imports from Japan exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was held by China (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and China (X% per year).

In value terms, Japan ($X) constituted the largest supplier of outboard motors for marine propulsion to Norway, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Japan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average outboard boat motors import price amounted to $X per unit, declining by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the average import prices failed to regain momentum.

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 United States ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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