Norway: Wood Drilling Machine Market 2022

Wood Drilling Machine Market Size in Norway

In 2021, the Norwegian wood drilling machine market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Wood Drilling Machine Production in Norway

In value terms, wood drilling machine production amounted to $X in 2021 estimated in export price. Overall, production continues to indicate significant growth. The growth pace was the most rapid in 2015 when the production volume increased by 610% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Wood Drilling Machine Exports

Exports from Norway

After two years of decline, overseas shipments of drilling or morticing machines increased by 1,115% to X units in 2021. In general, exports, however, showed a abrupt slump. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, wood drilling machine exports soared to $X in 2021. Overall, exports, however, saw a deep downturn. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Estonia (X units) was the main destination for wood drilling machine exports from Norway, accounting for a 66% share of total exports. Moreover, wood drilling machine exports to Estonia exceeded the volume sent to the second major destination, Sweden (X units), threefold. The third position in this ranking was held by Finland (X units), with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Estonia stood at +62.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-10.8% per year) and Finland (-28.6% per year).

In value terms, Estonia ($X) emerged as the key foreign market for wood drilling machine exports from Norway, comprising 50% of total exports. The second position in the ranking was held by Finland ($X), with a 15% share of total exports. It was followed by Sweden, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value to Estonia totaled +41.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (-27.3% per year) and Sweden (-16.9% per year).

Export Prices by Country

The average wood drilling machine export price stood at $X per unit in 2021, shrinking by -45.7% against the previous year. Over the period under review, the export price showed a pronounced descent. The pace of growth appeared the most rapid in 2017 an increase of 469% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2021, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Finland ($X per unit), while the average price for exports to Sweden ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+1.8%), while the prices for the other major destinations experienced a decline.

Wood Drilling Machine Imports

Imports into Norway

In 2021, overseas purchases of drilling or morticing machines increased by 35% to X units, rising for the second year in a row after two years of decline. Overall, imports, however, continue to indicate a slight decline. The growth pace was the most rapid in 2017 with an increase of 213% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, wood drilling machine imports soared to $X in 2021. In general, imports, however, saw a pronounced reduction. The pace of growth appeared the most rapid in 2016 with an increase of 121% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X units), Taiwan (Chinese) (X units) and Sweden (X units) were the main suppliers of wood drilling machine imports to Norway, with a combined 86% share of total imports. These countries were followed by China, Poland and the UK, which together accounted for a further 13%.

From 2012 to 2021, the biggest increases were in Poland (with a CAGR of +22.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of wood drilling machine to Norway, comprising 55% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 15% share of total imports. It was followed by Sweden, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Italy totaled -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+19.0% per year) and Sweden (-7.5% per year).

Import Prices by Country

The average wood drilling machine import price stood at $X per unit in 2021, falling by -3.9% against the previous year. In general, the import price saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 when the average import price increased by 42%. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Poland ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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