Norway: Radiator Market 2024

Radiator Market Size in Norway

In 2022, the Norwegian radiator market increased by 2.8% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when the market value increased by 5.8% against the previous year. Radiator consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Radiator Exports

Exports from Norway

In 2022, the amount of radiators for central heating (not electrically heated) exported from Norway contracted significantly to X tons, which is down by -41.6% on 2021 figures. Over the period under review, exports, however, posted a measured increase. The growth pace was the most rapid in 2021 when exports increased by 384% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, radiator exports fell significantly to $X in 2022. Overall, exports, however, saw notable growth. The most prominent rate of growth was recorded in 2021 when exports increased by 373%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Denmark (X tons), the UK (X tons) and Sweden (X tons) were the main destinations of radiator exports from Norway, together comprising 90% of total exports.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +35.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Denmark ($X) and Sweden ($X) appeared to be the largest markets for radiator exported from Norway worldwide, together accounting for 74% of total exports.

Among the main countries of destination, the UK, with a CAGR of +27.8%, recorded 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 radiator export price stood at $X per ton in 2022, rising by 38% against the previous year. In general, the export price continues to indicate a slight increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 174% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+20.6%), while the prices for the other major destinations experienced more modest paces of growth.

Radiator Imports

Imports into Norway

In 2022, purchases abroad of radiators for central heating (not electrically heated) increased by 1% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, saw a pronounced shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 5.9% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, radiator imports rose to $X in 2022. Overall, imports, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2021 with an increase of 9.4%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Latvia (X tons) constituted the largest radiator supplier to Norway, with a 59% share of total imports. Moreover, radiator imports from Latvia exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), sevenfold. The third position in this ranking was taken by Poland (X tons), with a 7.5% share.

From 2012 to 2022, the average annual growth rate of volume from Latvia stood at +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+26.7% per year) and Poland (+19.1% per year).

In value terms, Latvia ($X) constituted the largest supplier of radiators for central heating (not electrically heated) to Norway, comprising 45% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a 12% share of total imports. It was followed by Poland, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Latvia totaled -1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+27.4% per year) and Poland (+15.3% per year).

Import Prices by Country

The average radiator import price stood at $X per ton in 2022, increasing by 1.6% against the previous year. In general, the import price, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2021 when the average import price increased by 19% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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