Key Market Indicators
Norwegian exports of transformers are forecast to drop to $76 million by 2026, a 3.2% drop from the 2021 figure of $92 million. This decline has been steady since 1998. In 2021, Norway ranked 45th in this sector, with South Africa in 44th place with $92 million. Germany, the United States and Japan took the top three spots. Imports of transformers into Norway are projected to climb to $538 million by 2026, a 1.7% increase from the 2021 figure of $486 million. Since 1998, demand has risen 8.9% each year. In 2021, Norway ranked 35th, with Romania in 34th place at $486 million. China, Germany and Mexico took the first three positions.
