Norway: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Norway

After two years of decline, the Norwegian commercial refrigeration equipment market increased by 15% to $X in 2021. Over the period under review, consumption showed a relatively flat trend pattern. Commercial refrigeration equipment consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Commercial Refrigeration Equipment Production in Norway

In value terms, commercial refrigeration equipment production rose slightly to $X in 2021 estimated in export price. Over the period under review, production, however, saw prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 59%. Commercial refrigeration equipment production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Commercial Refrigeration Equipment Exports

Exports from Norway

Commercial refrigeration equipment exports from Norway skyrocketed to X units in 2021, picking up by 46% on the year before. Overall, exports saw a prominent increase. The growth pace was the most rapid in 2015 with an increase of 130% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in years to come.

In value terms, commercial refrigeration equipment exports soared to $X in 2021. In general, exports posted a prominent increase. The growth pace was the most rapid in 2017 with an increase of 87% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Sweden (X units), Turkey (X units) and Russia (X units) were the main destinations of commercial refrigeration equipment exports from Norway, together comprising 68% of total exports. These countries were followed by Poland, Lithuania, Thailand, Singapore, the United Arab Emirates, Denmark, Ukraine, Uruguay, the UK and Angola, which together accounted for a further 21%.

From 2012 to 2021, the biggest increases were recorded for Uruguay (with a CAGR of +2,001.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Turkey ($X) and Russia ($X) appeared to be the largest markets for commercial refrigeration equipment exported from Norway worldwide, with a combined 70% share of total exports. Denmark, Poland, Thailand, Singapore, the UK, Lithuania, the United Arab Emirates, Ukraine, Uruguay and Angola lagged somewhat behind, together accounting for a further 16%.

Uruguay, with a CAGR of +191.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average commercial refrigeration equipment export price stood at $X per unit in 2021, reducing by -6.5% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 62%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Angola ($X per unit), while the average price for exports to Uruguay ($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 Ukraine (+46.2%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Norway

In 2021, the amount of refrigerating and freezing equipment and heat pumps (except household type equipment) imported into Norway totaled X units, rising by 9.9% against 2020. In general, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 33% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, commercial refrigeration equipment imports surged to $X in 2021. The total import value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Sweden (X units), the Czech Republic (X units) and China (X units) were the main suppliers of commercial refrigeration equipment imports to Norway, with a combined 49% share of total imports. These countries were followed by Italy, Denmark, Hungary, Finland, Germany, France, Poland, Belgium, Croatia and Turkey, which together accounted for a further 42%.

From 2012 to 2021, the biggest increases were recorded for Croatia (with a CAGR of +42.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest commercial refrigeration equipment suppliers to Norway were Sweden ($X), China ($X) and Italy ($X), together accounting for 45% of total imports. These countries were followed by Denmark, Finland, the Czech Republic, Germany, Poland, France, Hungary, Turkey, Belgium and Croatia, which together accounted for a further 41%.

Among the main suppliers, Croatia, with a CAGR of +19.1%, recorded the highest rates of growth with regard to 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 commercial refrigeration equipment import price amounted to $X per unit, growing by 11% against the previous year. Overall, the import price, however, saw a pronounced shrinkage. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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