Price for Electric Motors; AC Motors, Single-Phase in Norway - 2023
Contents:
- Price for Electric Motors; AC Motors, Single-Phase in Norway (CIF) - 2023
- Price for Electric Motors; AC Motors, Single-Phase in Norway (FOB) - 2022
- Imports of Electric Motors; AC Motors, Single-Phase in Norway
- Exports of Electric Motors; AC Motors, Single-Phase in Norway
Price for Electric Motors; AC Motors, Single-Phase in Norway (CIF) - 2023
In August 2023, the average import price for electric motors; AC motors, single-phases amounted to $98.0 per unit, rising by 17% against the previous month. Over the period under review, import price indicated a moderate expansion from August 2022 to August 2023: its price increased at an average monthly rate of +3.4% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, electric motors; AC motors, single-phase import price increased by +28.6% against March 2023 indices. The growth pace was the most rapid in March 2023 when the average import price increased by 57% m-o-m. Over the period under review, average import prices hit record highs at $100 per unit in November 2022; however, from December 2022 to August 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was South Korea ($267 per unit), while the price for Belgium ($30.7 per unit) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by China (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Electric Motors; AC Motors, Single-Phase in Norway (FOB) - 2022
The average export price for electric motors; AC motors, single-phases stood at $147 per unit in 2022, reducing by -29.8% against the previous year. Over the period under review, the export price, however, enjoyed a moderate expansion. The growth pace was the most rapid in 2015 when the average export price increased by 162% against the previous year. Over the period under review, the average export prices attained the maximum at $758 per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($409 per unit), while the average price for exports to Poland ($77 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 Lithuania (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electric Motors; AC Motors, Single-Phase in Norway
After three years of growth, overseas purchases of electric motors; AC motors, single-phases decreased by -14% to 113K units in 2022. Overall, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +12.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 29%. As a result, imports reached the peak of 131K units, and then dropped in the following year.
In value terms, electric motors; AC motors, single-phase imports shrank dramatically to $8.1M in 2022. The total import value increased at an average annual rate of +5.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 23%. As a result, imports reached the peak of $10M, and then reduced markedly in the following year.
| Import of Electric Motors; AC Motors, Single-Phase in Norway (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 2,832 | 4,437 | 5,279 | 3,892 | 11.2% |
| Germany | 783 | 605 | 507 | 789 | 0.3% |
| Sweden | 698 | 916 | 1,121 | 726 | 1.3% |
| China | 323 | 572 | 471 | 536 | 18.4% |
| South Korea | 293 | 213 | 304 | 347 | 5.8% |
| Czech Republic | 225 | 198 | 369 | 284 | 8.1% |
| Belgium | 14.8 | 9.4 | 191 | 234 | 151.0% |
| Italy | 413 | 445 | 446 | 206 | -20.7% |
| Netherlands | 486 | 107 | 144 | 149 | -32.6% |
| Others | 794 | 755 | 1,332 | 930 | 5.4% |
| Total | 6,861 | 8,259 | 10,165 | 8,094 | 5.7% |
Top Suppliers of Electric Motors; AC Motors, Single-Phase to Norway in 2022:
- France (70.6K units)
- Germany (10.7K units)
- Sweden (8.5K units)
- China (5.9K units)
- Belgium (3.4K units)
- Netherlands (2.4K units)
- Italy (2.3K units)
- South Korea (2.0K units)
- Czech Republic (1.8K units)
Exports of Electric Motors; AC Motors, Single-Phase in Norway
In 2022, the amount of electric motors; AC motors, single-phases exported from Norway skyrocketed to 7.4K units, jumping by 28% against the previous year's figure. In general, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 54%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, electric motors; AC motors, single-phase exports dropped to $1.1M in 2022. Overall, exports, however, continue to indicate a precipitous contraction. The growth pace was the most rapid in 2021 with an increase of 43%. The exports peaked at $2.3M in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
| Export of Electric Motors; AC Motors, Single-Phase in Norway (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 138 | 300 | 472 | 423 | 45.3% |
| Finland | 4.6 | 3.2 | 245 | 282 | 294.3% |
| Sweden | 28.2 | 48.7 | 84.3 | 85.9 | 45.0% |
| Lithuania | N/A | 9.2 | 2.5 | 18.6 | 42.2% |
| South Korea | 1,391 | 1.9 | N/A | N/A | -99.9% |
| Others | 691 | 486 | 407 | 275 | -26.4% |
| Total | 2,252 | 849 | 1,211 | 1,085 | -21.6% |
Top Export Markets for Electric Motors; AC Motors, Single-Phase from Norway in 2022:
- Poland (5.5K units)
- Sweden (0.8K units)
- Finland (0.7K units)
- Lithuania (0.2K units)
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