Market research

Heat exchangers and gas liquefaction market in Norway

Release date: Mar 30, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Earlier Report Observations

The market for heat exchangers and gas liquefaction equipment in Norway experienced moderate growth, with its value increasing from $74.9 million in 2018 to $75.9 million in 2019. This was followed by a significant contraction to $61.1 million in 2020, coinciding with a decline in domestic production from $11.7 million to $9.9 million and a reduction in imports from $78.0 million to $63.2 million during that year.

From 2021 onward, import values demonstrated a strong recovery, rising to $74.9 million in 2021 and peaking at $112.8 million in 2023, before moderating to $111.0 million in 2025. Over the same period, Norwegian exports of these goods expanded consistently, growing from $14.8 million in 2021 to $24.3 million in 2025, indicating a shift in trade dynamics for the sector.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators
1. 4.1. In value
  1. 4.1.1. Production, 2018-2020
  2. 4.1.2. Imports, 2018-2025
  3. 4.1.3. Exports, 2018-2025
  4. 4.1.4. Market size, 2018-2020
5. Production
1. 5.1. Production in Norway
  1. 5.1.1. In kind, 2018-2020, unit
  2. 5.1.2. In value, 2018-2020, K $ US
2. 5.2. Production in the EU, 2018-2024
  1. 5.2.1. In kind, 2018-2024, unit
  2. 5.2.2. In value, 2018-2024, K $ US
6. Exports
1. 6.1. Exports (Direct Data)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, t
    1. 6.1.2.1. Annual dynamics of product's exports from Norway in kind, 2018-2025, t
    2. 6.1.2.2. Dynamics of product's exports in kind from Norway by countries, 2018-2025, t
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 6.1.3. Exports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Norway in value, 2018-2025, M $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Norway by countries, 2018-2025, M $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 6.1.4. Average price of product's exports, $ US/kg
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Norway, 2018-2025, $ US/kg
    2. 6.1.4.2. Dynamics of average price of product's exports from Norway by countries, 2018-2025, $ US/kg
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, t
    1. 6.2.2.1. Annual dynamics of product's exports from Norway in kind, 2018-2025, t
    2. 6.2.2.2. Dynamics of product's exports in kind from Norway by countries, 2018-2025, t
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 6.2.3. Exports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Norway in value, 2018-2025, M $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Norway by countries, 2018-2025, M $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 6.2.4. Average price of product's exports, $ US/kg
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Norway, 2018-2025, $ US/kg
    2. 6.2.4.2. Dynamics of average price of product's exports from Norway by countries, 2018-2025, $ US/kg
7. Imports
1. 7.1. Imports (Direct Data)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, t
    1. 7.1.2.1. Annual dynamics of product's imports to Norway in kind, 2018-2025, t
    2. 7.1.2.2. Dynamics of product's imports in kind to Norway by countries, 2018-2025, t
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 7.1.3. Imports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Norway in value, 2018-2025, M $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Norway by countries, 2018-2025, M $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 7.1.4. Average price of product's imports, $ US/kg
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Norway, 2018-2025, $ US/kg
    2. 7.1.4.2. Dynamics of average price of product's imports to Norway by countries, 2018-2025, $ US/kg
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, t
    1. 7.2.2.1. Annual dynamics of product's imports to Norway in kind, 2018-2025, t
    2. 7.2.2.2. Dynamics of product's imports in kind to Norway by countries, 2018-2025, t
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 7.2.3. Imports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Norway in value, 2018-2025, M $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Norway by countries, 2018-2025, M $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 7.2.4. Average price of product's imports, $ US/kg
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Norway, 2018-2025, $ US/kg
    2. 7.2.4.2. Dynamics of average price of product's imports to Norway by countries, 2018-2025, $ US/kg
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2025
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production heat exchangers and gas liquefaction in Norway

In value, 2018-2021, K $ US

In 2020, Norway's production of heat exchangers and gas liquefaction was valued at 9 876 thousand US dollars, marking a significant decline of 15.7% compared to the previous year. Looking at the broader period from 2018 to 2020, production decreased by 10.8%, which translates to an annualized rate of 3.7%. The peak production value occurred in 2019, reaching 11 716 thousand US dollars, with the largest annual increase of 5.8% also recorded that year.

Annual dynamics of production in Norway in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	5.8%	(15.7%)	n/a	-

Source: SHEV.io

Exports heat exchangers and gas liquefaction from Norway

Exports in kind, t

Exports of heat exchangers and gas liquefaction from Norway declined for the second consecutive year. In 2021, exports stood at 434 tonnes, representing a year-on-year reduction of 2.3%. Over the period from 2018 to 2021, exports decreased by 27.3%, equating to an annualized rate of 10.1%. The highest export volume was recorded in 2019 at 683 tonnes, which also saw the largest annual increase of 14.3%. In contrast, the largest decline occurred in 2020, with a drop of 34.9%.

Annual dynamics of product's exports from Norway in kind, 2018-2021, t

Parameter		2019	2020	2021	CAGR
1	Change from last year	14.3%	(34.9%)	(2.3%)	(10.1%)

Source: SHEV.io

From 2018 to 2021, Norway's exports of heat exchangers and gas liquefaction in kind were not heavily concentrated on a few key markets. The top three destinations—Poland with 21.2% of exports, France with 14.7%, and Sweden with 10.3%—collectively accounted for only 46.1% of total export flows.

Structure of product's exports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Norway in kind, 2018-2021

Source: SHEV.io

Exports in value, K $ US

In 2021, Norway's exports of heat exchangers and gas liquefaction in value terms reached 14 845 thousand US dollars, showing a substantial gain of 23.9% compared to 2020. Over the period from 2018 to 2021, exports increased by 13.8%, which corresponds to an annualized rate of 4.4%. The lowest export value was recorded in 2020 at 11 978 thousand US dollars, with the largest decline of 13.3% also occurring that year.

Annual dynamics of product's exports from Norway in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	5.9%	(13.3%)	23.9%	4.4%

Source: SHEV.io

From 2018 to 2021, Norway's exports of heat exchangers and gas liquefaction in value terms were widely dispersed across partner countries. The top three markets—Poland and France each with 9.5% of exports, and Sweden with 8.8%—together represented only 27.8% of total export flows.

Structure of product's exports in value by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Norway in value, 2018-2021

Source: SHEV.io

Imports heat exchangers and gas liquefaction to Norway

Imports in kind, t

In 2021, Norway imported 3 178 tonnes of heat exchangers and gas liquefaction, indicating a notable gain of 12.1% compared to the previous year. Over the period from 2018 to 2021, imports decreased by 2.3%, with a compound annual growth rate of 0.8%. The lowest import volume was recorded in 2020 at 3 178 tonnes, while the peak occurred in 2019 at 3 968 tonnes. The largest decline was in 2020, with a drop of 19.9%.

Annual dynamics of product's imports to Norway in kind, 2018-2021, t

Parameter		2019	2020	2021	CAGR
1	Change from last year	8.8%	(19.9%)	12.1%	(0.8%)

Source: SHEV.io

From 2018 to 2021, Sweden, Italy, and Germany were the main sources for Norway's imports of heat exchangers and gas liquefaction in kind. Sweden accounted for 22.6% of imports, Italy for 16.7%, and Germany for 15.5%, together making up 54.8% of total import flows.

Structure of product's imports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Norway in kind, 2018-2021

Source: SHEV.io

Imports in value, K $ US

In 2021, Norway's imports of heat exchangers and gas liquefaction in value terms amounted to 74 919 thousand US dollars, up by 18.5% from a year earlier. Over the period from 2018 to 2021, imports decreased by 2.6%, with a compound annual growth rate of 0.9%. The lowest import value was recorded in 2020 at 63 197 thousand US dollars, while the highest was in 2019 at 77 953 thousand US dollars. The largest decline occurred in 2020, with a drop of 18.9%.

Annual dynamics of product's imports to Norway in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	1.4%	(18.9%)	18.5%	(0.9%)

Source: SHEV.io

An analysis of Norway's imports of heat exchangers and gas liquefaction in value terms from 2018 to 2021 shows a broad distribution across many markets. The top three sources—Sweden with 21.3% of imports, Germany with 15.4%, and Italy with 12.9%—together accounted for only 49.6% of total import flows, with the remaining 50.4% coming from other partners.

Structure of product's imports in value by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Norway in value, 2018-2021

Source: SHEV.io