In the Manufacture of Fluid Power Equipment sector in Norway, the production value was 4.10 Billion Norwegian Krones in 2023. The forecasted production values are 4.22, 4.35, 4.47, 4.6, and 4.72 Billion Norwegian Krones for the years 2024, 2025, 2026, 2027, and 2028 respectively. This represents a steady year-on-year growth trend as follows:
• 2024: 2.9%
• 2025: 3.1%
• 2026: 2.8%
• 2027: 2.9%
• 2028: 2.6%
The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is approximately 2.9%.
Future trends to watch for include advancements in hydraulic and pneumatic technologies, potential shifts towards more sustainable and environmentally-friendly fluid power equipment, and the impact of global supply chain dynamics on the Norwegian market.
