Norway: Working Wire Machine Market 2022

Working Wire Machine Market Size in Norway

In 2021, the Norwegian working wire machine market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption recorded significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Working Wire Machine Production in Norway

In value terms, working wire machine production expanded notably to $X in 2021 estimated in export price. In general, production saw a slight decrease. The most prominent rate of growth was recorded in 2016 with an increase of 42%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Working Wire Machine Exports

Exports from Norway

In 2021, after two years of decline, there was significant decline in shipments abroad of machines for working wire, when their volume decreased by -28.6% to X units. In general, exports, however, posted a notable increase. The most prominent rate of growth was recorded in 2013 with an increase of 125% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, working wire machine exports dropped markedly to $X in 2021. Overall, exports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 6,121%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

China (X units) and Denmark (X units) were the main destinations of working wire machine exports from Norway. Moreover, working wire machine exports in China exceeded the figures recorded by the second-largest exporter, Denmark, twofold.

From 2012 to 2021, the biggest increases were in Denmark (with a CAGR of 0.0%).

In value terms, China ($X), Australia ($X) and the United States ($X) were the largest markets for working wire machine exported from Norway worldwide, together accounting for 91% of total exports.

The United States, with a CAGR of +51.4%, saw 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 working wire machine export price stood at $X per unit in 2021, reducing by -18.1% against the previous year. Overall, the export price showed a abrupt downturn. The most prominent rate of growth was recorded in 2017 when the average export price increased by 33% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Australia ($X per unit), while the average price for exports to Denmark ($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 the United States (+48.5%), while the prices for the other major destinations experienced mixed trend patterns.

Working Wire Machine Imports

Imports into Norway

In 2021, approx. X units of machines for working wire were imported into Norway; growing by 15,575% against the year before. Over the period under review, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, working wire machine imports surged to $X in 2021. Overall, imports recorded significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Sweden (X units) was the main working wire machine supplier to Norway, accounting for a 92% share of total imports. Moreover, working wire machine imports from Sweden exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was taken by Denmark (X units), with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Sweden stood at +64.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+26.4% per year) and Denmark (+13.3% per year).

In value terms, Sweden ($X) constituted the largest supplier of working wire machine to Norway, comprising 84% of total imports. The second position in the ranking was taken by Denmark ($X), with a 2.1% share of total imports. It was followed by the United States, with a 0.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Sweden totaled +167.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+71.1% per year) and the United States (+67.5% per year).

Import Prices by Country

In 2021, the average working wire machine import price amounted to $X per unit, waning by -39.9% against the previous year. Over the period under review, the import price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2017 an increase of 200% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Denmark ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+8.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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