Norway: Lock And Key Market 2024

Lock And Key Market Size in Norway

In 2022, the Norwegian lock and key market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2021, and then dropped in the following year.

Lock And Key Production in Norway

In value terms, lock and key production expanded markedly to $X in 2022 estimated in export price. Overall, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of X%. Lock and key production peaked in 2022 and is likely to continue growth in the near future.

Lock And Key Exports

Exports from Norway

In 2022, shipments abroad of padlocks, locks and keys of base metal decreased by X% to X tons, falling for the third year in a row after two years of growth. Overall, exports showed a pronounced contraction. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, lock and key exports reduced to $X in 2022. In general, exports saw a pronounced descent. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X tons) was the main destination for lock and key exports from Norway, with a X% share of total exports. Moreover, lock and key exports to Sweden exceeded the volume sent to the second major destination, Poland (X tons), sixfold. The third position in this ranking was held by Denmark (X tons), with a X% share.

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

In value terms, Sweden ($X) remains the key foreign market for padlocks, locks and keys of base metal exports from Norway, comprising X% of total exports. The second position in the ranking was taken by Italy ($X), with a X% share of total exports. It was followed by Poland, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Poland (X% per year).

Export Prices by Country

In 2022, the average lock and key export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 Italy ($X per ton), while the average price for exports to the Czech Republic ($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 Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into Norway

In 2022, after two years of growth, there was significant decline in overseas purchases of padlocks, locks and keys of base metal, when their volume decreased by X% to X tons. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, lock and key imports fell to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

China (X tons), Sweden (X tons) and Austria (X tons) were the main suppliers of lock and key imports to Norway, together accounting for X% of total imports. Denmark, Germany, Italy, Poland, Romania and the United States lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), China ($X) and Germany ($X) appeared to be the largest lock and key suppliers to Norway, together accounting for X% of total imports. Denmark, Austria, Italy, the United States, Poland and Romania lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Poland, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average lock and key import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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 the United States ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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