Norway: Market for Turbo-Propellers Of A Power Exceeding 1,100 kW 2024

Market Size for Turbo-Propellers Of A Power Exceeding 1,100 kW in Norway

The Norwegian turbo-propeller (over X kW) market reduced notably to $X in 2023, with a decrease of X% against the previous year. In general, consumption recorded a relatively flat trend pattern. Turbo-propeller (over X kW) consumption peaked at $X in 2016; however, from 2017 to 2023, consumption remained at a lower figure.

Production of Turbo-Propellers Of A Power Exceeding X kW in Norway

In value terms, turbo-propeller (over X kW) production stood at $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Exports of Turbo-Propellers Of A Power Exceeding 1,100 kW

Exports from Norway

For the third consecutive year, Norway recorded decline in shipments abroad of turbo-propellers of a power exceeding X kW, which decreased by X% to X units in 2023. Over the period under review, exports, however, showed a resilient increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

In value terms, turbo-propeller (over X kW) exports shrank notably to $X in 2023. In general, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

Exports by Country

Canada (X units) and Germany (X units) were the main destinations of turbo-propeller (over X kW) exports from Norway.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of X%).

In value terms, Canada ($X) emerged as the key foreign market for turbo-propellers of a power exceeding X kW exports from Norway, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value to Canada stood at X%.

Export Prices by Country

In 2023, the average turbo-propeller (over X kW) export price amounted to $X per unit, with a decrease of X% against the previous year. Over the period under review, the export price, however, recorded perceptible growth. The pace of growth was the most pronounced in 2016 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2022, and then contracted in the following year.

Average prices varied somewhat for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to Germany stood at $X per unit.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Turbo-Propellers Of A Power Exceeding 1,100 kW

Imports into Norway

Turbo-propeller (over X kW) imports into Norway contracted significantly to X units in 2023, with a decrease of X% compared with 2022. Overall, imports, however, showed prominent growth. The growth pace was the most rapid in 2019 with an increase of X%. As a result, imports reached the peak of X units. From 2020 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, turbo-propeller (over X kW) imports fell dramatically to $X in 2023. Over the period under review, imports, however, enjoyed tangible growth. The pace of growth was the most pronounced in 2019 when imports increased by X%. Imports peaked at $X in 2022, and then declined markedly in the following year.

Imports by Country

In 2023, Singapore (X units) constituted the largest turbo-propeller (over X kW) supplier to Norway, with a X% share of total imports. Moreover, turbo-propeller (over X kW) imports from Singapore exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. Canada (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Singapore totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Canada (X% per year).

In value terms, Canada ($X), Singapore ($X) and the United States ($X) constituted the largest turbo-propeller (over X kW) suppliers to Norway, together accounting for X% of total imports.

Singapore, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2023, the average turbo-propeller (over X kW) import price amounted to $X per unit, declining by X% against the previous year. Over the period under review, the import price continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, average import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Canada ($X,551 per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform