Norway: Full-Rotation Excavator Market 2024

Full-Rotation Excavator Market Size in Norway

The Norwegian full-rotation excavator market soared to $X in 2021, increasing by 47% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed a perceptible decrease. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Full-Rotation Excavator Exports

Exports from Norway

After three years of growth, shipments abroad of self-propelled full-rotation excavators and bulldozers decreased by -13.6% to X units in 2021. Overall, exports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2015 with an increase of 65%. The exports peaked at X units in 2020, and then contracted in the following year.

In value terms, full-rotation excavator exports rose markedly to $X in 2021. In general, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 66%. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Sweden (X units), Poland (X units) and the Netherlands (X units) were the main destinations of full-rotation excavator exports from Norway, together accounting for 66% of total exports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +66.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) remains the key foreign market for self-propelled full-rotation excavators and bulldozers exports from Norway, comprising 38% of total exports. The second position in the ranking was taken by Poland ($X), with an 18% share of total exports. It was followed by the Netherlands, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Sweden totaled +22.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+75.3% per year) and the Netherlands (+17.0% per year).

Export Prices by Country

The average full-rotation excavator export price stood at $X per unit in 2021, increasing by 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per unit), while the average price for exports to Lithuania ($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 Finland (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Full-Rotation Excavator Imports

Imports into Norway

Full-rotation excavator imports into Norway soared to X units in 2021, picking up by 20% on the year before. Overall, imports, however, showed a relatively flat trend pattern. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, full-rotation excavator imports soared to $X in 2021. In general, imports, however, continue to indicate a slight downturn. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Japan (X units) constituted the largest supplier of full-rotation excavator to Norway, with a 35% share of total imports. Moreover, full-rotation excavator imports from Japan exceeded the figures recorded by the second-largest supplier, China (X units), twofold. Germany (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan stood at +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+27.7% per year) and Germany (+0.1% per year).

In value terms, Japan ($X) constituted the largest supplier of self-propelled full-rotation excavators and bulldozers to Norway, comprising 40% of total imports. The second position in the ranking was taken by Germany ($X), with a 19% share of total imports. It was followed by South Korea, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Japan totaled +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.6% per year) and South Korea (+9.6% per year).

Import Prices by Country

The average full-rotation excavator import price stood at $X per unit in 2021, rising by 6.4% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 11%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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 South Korea ($X per unit), while the price for Denmark ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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