Norway: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Norway

In 2021, the Norwegian oil dispensing pump market decreased by -52.5% to $X, falling for the third consecutive year after four years of growth. In general, consumption recorded a abrupt downturn. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Oil Dispensing Pump Exports

Exports from Norway

After three years of decline, overseas shipments of petrol and oil dispensing pumps increased by 5,061% to X units in 2021. In general, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, oil dispensing pump exports skyrocketed to $X in 2021. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 736%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China (X units) was the main destination for oil dispensing pump exports from Norway, accounting for a 88% share of total exports. Moreover, oil dispensing pump exports to China exceeded the volume sent to the second major destination, the United Arab Emirates (X units), eightfold. The third position in this ranking was held by the Netherlands (X units), with a 0.1% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at +191.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+67.8% per year) and the Netherlands (-17.1% per year).

In value terms, China ($X) emerged as the key foreign market for petrol and oil dispensing pumps exports from Norway, comprising 90% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 3.9% share of total exports. It was followed by the Netherlands, with a 0.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +158.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+212.8% per year) and the Netherlands (-10.1% per year).

Export Prices by Country

In 2021, the average oil dispensing pump export price amounted to $X per unit, falling by -84.2% against the previous year. Overall, the export price recorded a abrupt setback. The growth pace was the most rapid in 2016 an increase of 844% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to the United Arab Emirates ($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 Denmark (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Dispensing Pump Imports

Imports into Norway

For the seventh year in a row, Norway recorded growth in purchases abroad of petrol and oil dispensing pumps, which increased by 1.5% to X units in 2021. Overall, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +75.7% against 2014 indices. The most prominent rate of growth was recorded in 2016 with an increase of 23% against the previous year. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, oil dispensing pump imports stood at $X in 2021. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 25% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China (X units), Italy (X units) and Germany (X units) were the main suppliers of oil dispensing pump imports to Norway, together accounting for 60% of total imports. Sweden, the UK, India, the United States, Taiwan (Chinese) and Denmark lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +46.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest oil dispensing pump suppliers to Norway were Germany ($X), Sweden ($X) and the UK ($X), with a combined 75% share of total imports. Italy, China, the United States, Denmark, India and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 12%.

Among the main suppliers, India, with a CAGR of +50.6%, recorded 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 oil dispensing pump import price amounted to $X per unit, with an increase of 11% against the previous year. In general, the import price, however, recorded a abrupt slump. The pace of growth was the most pronounced in 2018 an increase of 20% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Sweden ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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