Norway: Clutch Market 2024

Clutch Market Size in Norway

The Norwegian clutch market reached $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +3.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Clutch Production in Norway

In value terms, clutch production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by 10%. Clutch production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Clutch Exports

Exports from Norway

In 2022, the amount of clutches exported from Norway shrank to X tons, stabilizing at 2021. Over the period under review, exports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2021 with an increase of 28%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, clutch exports rose significantly to $X in 2022. Overall, exports recorded a mild curtailment. The pace of growth was the most pronounced in 2021 with an increase of 43%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden (X tons) was the main destination for clutch exports from Norway, with a 31% share of total exports. Moreover, clutch exports to Sweden exceeded the volume sent to the second major destination, Germany (X tons), twofold. The third position in this ranking was held by the United States (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden amounted to -5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+3.1% per year) and the United States (+10.8% per year).

In value terms, the largest markets for clutch exported from Norway were Sweden ($X), Germany ($X) and the United States ($X), with a combined 63% share of total exports. Turkey, the Netherlands, Poland, Belgium, France, Brazil, Japan, the UK, South Korea and China lagged somewhat behind, together accounting for a further 30%.

Poland, with a CAGR of +13.8%, 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 clutch export price stood at $X per ton in 2022, growing by 14% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Belgium ($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 Sweden (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Clutch Imports

Imports into Norway

In 2022, supplies from abroad of clutches increased by 0.6% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 20%. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, clutch imports shrank to $X in 2022. Overall, imports, however, saw a slight downturn. The growth pace was the most rapid in 2021 with an increase of 18% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of clutch to Norway, with a 38% share of total imports. Moreover, clutch imports from Germany exceeded the figures recorded by the second-largest supplier, Latvia (X tons), twofold. The third position in this ranking was taken by Hungary (X tons), with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+127.7% per year) and Hungary (+6.7% per year).

In value terms, Germany ($X) constituted the largest supplier of clutches to Norway, comprising 37% of total imports. The second position in the ranking was taken by Hungary ($X), with an 8.9% share of total imports. It was followed by Latvia, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+4.4% per year) and Latvia (+118.9% per year).

Import Prices by Country

The average clutch import price stood at $X per ton in 2022, falling by -5.1% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 10% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Switzerland ($X per ton), while the price for Latvia ($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 (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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