In 2023, the production in the manufacture of sports goods sector in Norway stood at 833.4 million Norwegian Krones. The forecast for 2024 shows a slight increase to 834.6 million Norwegian Krones, representing a year-on-year growth of approximately 0.14%. The trend continues with modest increases: 2025 at 836.0 million Norwegian Krones (0.16% growth), 2026 at 837.3 million Norwegian Krones (0.16% growth), 2027 at 838.7 million Norwegian Krones (0.17% growth), and 2028 at 840.1 million Norwegian Krones (0.17% growth). Over the last two years, the average year-on-year growth rate has been consistent and slight.
Considering the five-year forecast period from 2024 to 2028, the compound annual growth rate (CAGR) is approximately 0.16%. This indicates a steady and minimal upward trend in the sector, reflecting stable but slow growth.
Future trends to watch for include the potential impact of technological advancements and innovations in sports goods manufacturing, changes in consumer preferences and demand, and possible fluctuations in raw material prices that could affect production costs. Environmental sustainability practices and regulations may also play a significant role in shaping the industry's future direction.
