Norway: Hvac Equipment Market 2024

Hvac Equipment Market Size in Norway

The Norwegian HVAC equipment market amounted to $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in years to come.

Hvac Equipment Production in Norway

In value terms, HVAC equipment production rose rapidly to $X in 2022 estimated in export price. In general, production saw a deep slump. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Hvac Equipment Exports

Exports from Norway

HVAC equipment exports from Norway declined to X units in 2022, with a decrease of X% compared with the year before. Overall, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, HVAC equipment exports rose to $X in 2022. Over the period under review, exports recorded a deep contraction. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Sweden (X units) was the main destination for HVAC equipment exports from Norway, accounting for a X% share of total exports. Moreover, HVAC equipment exports to Sweden exceeded the volume sent to the second major destination, Finland (X units), threefold. Lithuania (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (X% per year) and Lithuania (X% per year).

In value terms, the largest markets for HVAC equipment exported from Norway were the Netherlands ($X), Sweden ($X) and the UK ($X), together comprising X% of total exports. Denmark, Germany, Finland, Lithuania, Belgium, Slovenia, Estonia, Serbia, Australia and Russia lagged somewhat behind, together accounting for a further X%.

Serbia, with a CAGR of X%, recorded the highest growth rate of the value of exports, among 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 HVAC equipment export price stood at $X per unit in 2022, surging by X% against the previous year. Overall, the export price showed strong growth. The growth pace was the most rapid in 2019 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

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 the Netherlands ($X per unit), while the average price for exports to Slovenia ($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 Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hvac Equipment Imports

Imports into Norway

In 2022, hvac equipment imports into Norway shrank slightly to X units, dropping by X% compared with the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X units, and then contracted slightly in the following year.

In value terms, HVAC equipment imports amounted to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest HVAC equipment supplier to Norway, accounting for a X% share of total imports. Moreover, HVAC equipment imports from China exceeded the figures recorded by the second-largest supplier, Sweden (X units), sevenfold. Lithuania (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (X% per year) and Lithuania (X% per year).

In value terms, Sweden ($X), China ($X) and Thailand ($X) constituted the largest HVAC equipment suppliers to Norway, with a combined X% share of total imports. Germany, Denmark, Lithuania, Malaysia, the UK, the United States and Hungary lagged somewhat behind, together comprising a further X%.

Malaysia, with a CAGR of X%, 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 HVAC equipment import price stood at $X per unit in 2022, increasing by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by X%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Hungary (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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