Norway: Timer Market 2025

Timer Market Size in Norway

In 2022, the Norwegian timer market decreased by -37.7% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption saw a deep setback. Timer consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Timer Exports

Exports from Norway

In 2022, exports of timers from Norway soared to X units, rising by 63% against the previous year's figure. Overall, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 430%. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, timer exports reduced to $X in 2022. Over the period under review, exports showed a significant increase. The pace of growth was the most pronounced in 2018 with an increase of 180% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Finland (X units), Denmark (X units) and Sweden (X units) were the main destinations of timer exports from Norway, together accounting for 90% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of +211.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for timer exported from Norway were Finland ($X), Sweden ($X) and Denmark ($X), with a combined 86% share of total exports.

Denmark, with a CAGR of +168.2%, recorded the highest growth rate of 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 timer export price stood at $X per unit in 2022, which is down by -39.3% against the previous year. In general, the export price, however, posted buoyant growth. The pace of growth appeared the most rapid in 2017 when the average export price increased by 464% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 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 Sweden ($X per unit), while the average price for exports to Denmark ($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 the UK (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Timer Imports

Imports into Norway

Timer imports into Norway shrank sharply to X units in 2022, waning by -31.2% compared with 2021 figures. Over the period under review, imports continue to indicate a deep setback. The growth pace was the most rapid in 2021 with an increase of 150% against the previous year. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, timer imports declined significantly to $X in 2022. Overall, imports saw a noticeable decrease. The most prominent rate of growth was recorded in 2021 with an increase of 73% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), the Netherlands (X units) and Germany (X units) were the main suppliers of timer imports to Norway, together accounting for 90% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +38.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), the United States ($X) and Sweden ($X) appeared to be the largest timer suppliers to Norway, with a combined 61% share of total imports.

The Netherlands, with a CAGR of +37.6%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average timer import price stood at $X per unit in 2022, surging by 13% against the previous year. Overall, the import price saw a modest increase. The pace of growth was the most pronounced in 2014 when the average import price increased by 55% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+13.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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