Norway: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Norway

In 2022, the Norwegian self-propelled boring machinery market decreased by -30.2% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, saw a noticeable increase. Self-propelled boring machinery consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Self-Propelled Boring Machinery Production in Norway

In value terms, self-propelled boring machinery production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 6.1% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Self-Propelled Boring Machinery Exports

Exports from Norway

In 2022, self-propelled boring machinery exports from Norway surged to X units, jumping by 36% compared with the previous year. Overall, exports saw strong growth. The growth pace was the most rapid in 2016 when exports increased by 100%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, self-propelled boring machinery exports skyrocketed to $X in 2022. Over the period under review, exports saw a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 93% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Sweden (X units) was the main destination for self-propelled boring machinery exports from Norway, accounting for a 34% share of total exports. Moreover, self-propelled boring machinery exports to Sweden exceeded the volume sent to the second major destination, Finland (X units), twofold. Italy (X units) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden stood at +4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+20.9% per year) and Italy (+34.9% per year).

In value terms, Sweden ($X) remains the key foreign market for self-propelled boring or sinking machinery exports from Norway, comprising 44% of total exports. The second position in the ranking was held by the Netherlands ($X), with an 18% share of total exports. It was followed by Finland, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden stood at +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+53.8% per year) and Finland (+14.8% per year).

Export Prices by Country

The average self-propelled boring machinery export price stood at $X per unit in 2022, waning by -1.5% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 29%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Bosnia and Herzegovina ($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 Bosnia and Herzegovina (+76.0%), while the prices for the other major destinations experienced more modest paces of growth.

Self-Propelled Boring Machinery Imports

Imports into Norway

In 2022, supplies from abroad of self-propelled boring or sinking machinery decreased by -9.7% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2016 when imports increased by 155% against the previous year. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, self-propelled boring machinery imports rose to $X in 2022. Over the period under review, total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -23.7% against 2017 indices. The pace of growth was the most pronounced in 2014 when imports increased by 55%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Denmark (X units), Sweden (X units) and Finland (X units) were the main suppliers of self-propelled boring machinery imports to Norway, together accounting for 70% of total imports.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +53.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest self-propelled boring machinery suppliers to Norway were Finland ($X), Sweden ($X) and the Netherlands ($X), together accounting for 87% of total imports.

Among the main suppliers, the Netherlands, with a CAGR of +65.6%, 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 2022, the average self-propelled boring machinery import price amounted to $X per unit, growing by 13% against the previous year. Overall, the import price, however, showed a deep downturn. The pace of growth appeared the most rapid in 2018 when the average import price increased by 53% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 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 Germany ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+16.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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