The Norwegian market for pulley tackle and hoists powered by an electric motor was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, recorded a deep slump. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.
In value terms, production of pulley tackle and hoists powered by an electric motor surged to $X in 2021 estimated in export price. In general, the total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -X% against 2018 indices. Production of peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.
Overseas shipments of pulleys and hoists driven by electric motors fell -X% to X units in 2021, the second consecutive year of decline after three years of growth. Overall, however, exports continued to show strong growth. 2013 saw the fastest growth, with exports up X% over the previous year. During the period under review, exports in 2019 hit a record high for Taiwan; however, exports failed to regain momentum from 2020 to 2021.
In value terms, exports of electric motor driven pulley tackle and hoists plummeted to $X in 2021. Exports dropped abruptly during the reporting period. The most prominent growth rate was in 2015, when exports increased by X%. As a result, exports peak at $X. Export growth failed to regain momentum from 2016 to 2021.
Sweden (X units), Germany (X units) and Denmark (X units) are the main export destinations for Norwegian electric motor power pulleys and lifts, together accounting for X% of total exports. These countries are followed by Belgium, Sri Lanka, Bahamas, and the United Kingdom, which together account for another X years from 2012 to 2021, with the most significant growth in shipments among the top destination countries being Sri Lanka (CA +X% growth rate), while the other leaders grew more modestly.
The largest markets for Norwegian exported electric motor driven pulley tackle and hoists by value are Denmark ($X), United Kingdom ($X) and Germany ($X), which together account for X% of total exports. These countries are followed by Sweden, Sri Lanka, Belgium and the Bahamas, which together account for X of the top destination countries Belgium, with a CAGR of +X%, recording the highest growth rate in export value during the period under review, while the others Shipments in major countries experienced a more modest growth rate.
Imports of electric motor-driven pulley tackle and lifts to Norway soared to X units in 2021, a surge of X% over the previous year. Overall, total imports show moderate growth from 2012 to 2021: over the past nine years, their imports have grown at an average annual rate of +X%. However, the trend pattern shows that some notable fluctuations were recorded throughout the analysis period. Based on 2021 data, imports are down -X% compared to the 2019 index. The most prominent growth rate was in 2016, with an increase of X% over the previous year. During the period under review, imports in 2019 hit a record high for X units; however, from 2020 to 2021, imports were slightly lower.
Imports of electric motor driven pulley tackle and hoists soared to $X in 2021 by value. Overall, total imports show resilient growth from 2012 to 2021: their value has grown at an average annual rate of +X% over the past nine years. However, the trend pattern shows that some notable fluctuations were recorded throughout the analysis period. Based on 2021 data, imports are down -X% compared to the 2019 index. The most prominent growth rate was in 2019, an increase of X% over the previous year. As a result, imports peak at $X. From 2020 to 2021, the growth of imports will remain at a low figure.
China (X units) is the largest pulley spreader and crane in Norway in 2021, accounting for X% of total imports. In addition, imports of electric motor-driven pulley tackle and hoists from China were three times higher than the number of the next largest supplier, Germany (Taiwan X). The United States (X vehicles) ranks third in terms of total imports with a share of X%.
From 2012 to 2021, the average annual growth rate of sales in China is +X%. The average annual growth rate of imports for the remaining supplying countries is as follows: Germany (-X% per year) and the United States (+X% per year). Germany ($X) is the largest supplier of Electric Pulley Tackle and Lifts to Norway by value, accounting for X% of total imports. In second place is the United States ($X), accounting for X% of total imports. This is followed by Denmark with an X% share.
The average annual value growth rate in Germany from 2012 to 2021 is relatively small. The average annual growth rates of imports for the remaining supplying countries are as follows: United States (+X% per year) and Denmark (+X% per year).
In value terms, Germany constituted the largest supplier of pulley tackle and hoists powered by an electric motor to Norway, comprising 34% of total imports. The second position in the ranking was taken by the United States, with a 15% share of total imports. It was followed by Denmark, with a 6.2% share.
In value terms, Denmark, the UK and Germany constituted the largest markets for pulley tackle and hoists powered by an electric motor exported from Norway worldwide, with a combined 67% share of total exports. These countries were followed by Sweden, Sri Lanka, Belgium and Bahamas, which together accounted for a further 21%.
The average export price for pulley tackle and hoists powered by an electric motor stood at $864 per unit in 2021, declining by -51.2% against the previous year.
In 2021, the average import price for pulley tackle and hoists powered by an electric motor amounted to $1,323 per unit, increasing by 6.1% against the previous year.
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