Norway: Market for Pneumatic Or Hydraulic Hand Tools 2024

Market Size for Pneumatic Or Hydraulic Hand Tools in Norway

In 2021, the Norwegian market for pneumatic or hydraulic hand tools increased by 14% to $X, rising for the second year in a row after two years of decline. In general, consumption continues to indicate a relatively flat trend pattern. Pneumatic or hydraulic hand tool consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Exports of Pneumatic Or Hydraulic Hand Tools

Exports from Norway

In 2021, the amount of pneumatic or hydraulic hand tools exported from Norway expanded notably to X tons, growing by 11% on 2020. Overall, exports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 28%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, pneumatic or hydraulic hand tool exports rose remarkably to $X in 2021. In general, exports, however, recorded a deep setback. The growth pace was the most rapid in 2013 with an increase of 18% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Sweden (X tons) was the main destination for pneumatic or hydraulic hand tool exports from Norway, with a 42% share of total exports. Moreover, pneumatic or hydraulic hand tool exports to Sweden exceeded the volume sent to the second major destination, Denmark (X tons), twofold. Finland (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sweden amounted to -17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+21.3% per year) and Finland (+6.3% per year).

In value terms, Sweden ($X), Denmark ($X) and Finland ($X) constituted the largest markets for pneumatic or hydraulic hand tool exported from Norway worldwide, together accounting for 53% of total exports. Brazil, the UK and Canada lagged somewhat behind, together comprising a further 18%.

Brazil, with a CAGR of +62.7%, 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

In 2021, the average export price for pneumatic or hydraulic hand tools amounted to $X per ton, declining by -5.1% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pneumatic or hydraulic hand tool export price decreased by -13.7% against 2018 indices. The pace of growth appeared the most rapid in 2017 an increase of 50%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+4.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Pneumatic Or Hydraulic Hand Tools

Imports into Norway

In 2021, the amount of pneumatic or hydraulic hand tools imported into Norway reduced slightly to X tons, dropping by -4.1% compared with 2020 figures. Overall, imports saw a perceptible descent. The pace of growth appeared the most rapid in 2020 with an increase of 27%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, pneumatic or hydraulic hand tool imports surged to $X in 2021. In general, imports showed a slight shrinkage. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of pneumatic or hydraulic hand tool to Norway, accounting for a 36% share of total imports. Moreover, pneumatic or hydraulic hand tool imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. Sweden (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-3.0% per year) and Sweden (-2.3% per year).

In value terms, the largest pneumatic or hydraulic hand tool suppliers to Norway were Sweden ($X), China ($X) and Germany ($X), together comprising 56% of total imports. These countries were followed by the United States, Taiwan (Chinese), Denmark, the UK and Italy, which together accounted for a further 31%.

Italy, with a CAGR of +3.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for pneumatic or hydraulic hand tools stood at $X per ton in 2021, with an increase of 25% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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