Norway: Suspension System Market 2025

Suspension System Market Size in Norway

In 2022, the Norwegian suspension system market decreased by -5.8% to $X, falling for the second consecutive year after two years of growth. The market value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Suspension system consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Suspension System Production in Norway

In value terms, suspension system production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 35%. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Suspension System Exports

Exports from Norway

In 2022, overseas shipments of suspension systems increased by 14% to X tons, rising for the second year in a row after four years of decline. Overall, exports, however, saw a deep reduction. The pace of growth was the most pronounced in 2013 with an increase of 75%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, suspension system exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2013 with an increase of 114%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria (X tons) was the main destination for suspension system exports from Norway, accounting for a 52% share of total exports. Moreover, suspension system exports to Nigeria exceeded the volume sent to the second major destination, China (X tons), fourfold. The third position in this ranking was held by Sweden (X tons), with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Nigeria totaled +5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+50.3% per year) and Sweden (-24.6% per year).

In value terms, the largest markets for suspension system exported from Norway were China ($X), Sweden ($X) and the Netherlands ($X), together comprising 52% of total exports.

Among the main countries of destination, China, with a CAGR of +53.9%, saw the highest growth rate of 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

In 2022, the average suspension system export price amounted to $X per ton, growing by 42% against the previous year. Overall, the export price saw a relatively flat trend pattern. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the 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 Sweden ($X per ton), while the average price for exports to Nigeria ($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 the Netherlands (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Suspension System Imports

Imports into Norway

In 2022, after six years of growth, there was significant decline in purchases abroad of suspension systems, when their volume decreased by -18.9% to X tons. In general, total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +3.3% over the last decade. 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 17% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then dropped dramatically in the following year.

In value terms, suspension system imports reduced to $X in 2022. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +4.4% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 21% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

Germany (X tons), the Czech Republic (X tons) and China (X tons) were the main suppliers of suspension system imports to Norway, together accounting for 52% of total imports. Poland, Latvia, South Korea, Turkey, Belgium, the United States, Japan, Spain, the Netherlands and Sweden lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +131.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of suspension systems to Norway, comprising 27% of total imports. The second position in the ranking was held by the Czech Republic ($X), with an 11% share of total imports. It was followed by China, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+30.8% per year) and China (+19.7% per year).

Import Prices by Country

In 2022, the average suspension system import price amounted to $X per ton, picking up by 7% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 17% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Czech Republic ($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 (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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