Norway: Lock And Key Market 2025

Lock And Key Market Size in Norway

The Norwegian lock and key market rose markedly to $X in 2021, surging by 12% against the previous year. The market value increased at an average annual rate of +4.0% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the immediate term.

Lock And Key Production in Norway

In value terms, lock and key production skyrocketed to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +5.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Lock And Key Exports

Exports from Norway

In 2021, shipments abroad of padlocks, locks and keys of base metal decreased by -11% to X tons, falling for the second consecutive year after two years of growth. Overall, exports saw a noticeable contraction. The most prominent rate of growth was recorded in 2015 when exports increased by 15%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, lock and key exports stood at $X in 2021. In general, exports continue to indicate a pronounced contraction. The pace of growth was the most pronounced in 2019 when exports increased by 17%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Sweden (X tons) was the main destination for lock and key exports from Norway, accounting for a 58% share of total exports. Moreover, lock and key exports to Sweden exceeded the volume sent to the second major destination, Poland (X tons), sixfold. The third position in this ranking was held by Latvia (X tons), with an 8.3% share.

From 2012 to 2021, the average annual growth rate of volume to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (-3.8% per year) and Latvia (-11.1% per year).

In value terms, Sweden ($X) remains the key foreign market for padlocks, locks and keys of base metal exports from Norway, comprising 33% of total exports. The second position in the ranking was held by Poland ($X), with a 10% share of total exports. It was followed by Lithuania, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (-1.7% per year) and Lithuania (+6.0% per year).

Export Prices by Country

The average lock and key export price stood at $X per ton in 2021, rising by 29% against the previous year. In general, the export price, however, showed a mild shrinkage. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood 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 the UK ($X per ton), while the average price for exports to the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into Norway

In 2021, the amount of padlocks, locks and keys of base metal imported into Norway expanded markedly to X tons, with an increase of 5.4% on the previous year's figure. The total import volume increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, lock and key imports rose sharply to $X in 2021. The total import value increased at an average annual rate of +2.9% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Sweden (X tons) and Austria (X tons) were the main suppliers of lock and key imports to Norway, together accounting for 63% of total imports. Denmark, Germany, Romania, Italy, Taiwan (Chinese) and the United States lagged somewhat behind, together comprising a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +6.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), China ($X) and Germany ($X) were the largest lock and key suppliers to Norway, together comprising 60% of total imports. These countries were followed by Denmark, Austria, Italy, the United States, Taiwan (Chinese) and Romania, which together accounted for a further 21%.

The United States, with a CAGR of +10.0%, recorded 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 lock and key import price stood at $X per ton in 2021, picking up by 8.8% against the previous year. In general, the import price showed a relatively flat trend pattern. 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 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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