Non-inflatable inboard motorboats market in Norway

Earlier Report Observations

From 2018 to 2020, the market for non-inflatable inboard motorboats in Norway contracted by over 40% in value, falling from 154 million US dollars to 87 million. This decline was primarily driven by a growing consumer preference for outboard motors, which offered easier installation, simpler maintenance, and better space efficiency. Technological improvements in outboard motors enhanced their competitiveness, while simultaneously, rising interest in electric boats, fueled by advances in battery technology, began diverting demand to alternative segments.

By 2021, the market temporarily recovered to 108 million US dollars, aided by the introduction of stricter environmental regulations such as the Tier III requirements for world heritage fjords scheduled for 2025. These rules spurred interest in fleet renewal and cleaner technologies. However, the overarching trend towards outboard and electric powertrains persisted, and by 2022 the market size had declined again to 99 million dollars as new regulations on emissions and noise in Norwegian waters continued to reshape demand patterns.

In the following years from 2023 to 2024, the market continued to shrink, dropping to 39 million dollars in 2024. Production and imports also fell significantly, reflecting a sustained shift in consumer preferences and the competitive landscape in favor of alternative boat and motor types.

Production non-inflatable inboard motorboats in Norway

In value, 2018-2021, K $ US

Production of non-inflatable inboard motorboats in Norway has increased for the second consecutive year. In 2021, output was valued at 61 922 thousand US dollars, marking a sharp gain of 27.6% compared to 2020. Over the period from 2018 to 2021, production decreased by 23.3%, with a compound annual growth rate (CAGR) of -8.5%. The minimum value was recorded in 2019 at 38 618 thousand US dollars, which also saw the largest decline of 52.2%.

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

In kind, 2018-2021, unit

The data reveals irregular changes, indicating a volatile market environment. Production volumes reached their maximum in 2018 and dropped to a minimum in 2020, showing a 16-fold shift between these years. In 2021, 1 425 units of non-inflatable inboard motorboats were produced in Norway, equivalent to a dramatic advance of 709.7% compared to 2020. The minimum value was recorded in 2020 at 176 units, which also experienced the largest decline of 91.0%.

Annual dynamics of production in Norway in kind, 2018-2021, unit

Exports non-inflatable inboard motorboats from Norway

Exports in kind, unit

Volatility characterized the market behavior during these years. Export volumes climbed to their maximum in 2021 and dropped to a minimum in 2019, with a 5-fold difference between these years. In 2021, foreign supplies of non-inflatable inboard motorboats from Norway stood at 754 units, amounting to a dramatic increase of 72.5% year-over-year. The minimum value was recorded in 2019 at 151 units, which saw the largest decline of 13.2%. The largest increase was recorded in 2020 at 189.4%.

Annual dynamics of product's exports from Norway in kind, 2018-2021, unit

From 2018 to 2021, the Netherlands (40.2% of exports in kind), Denmark (15.2% of exports in kind), and Sweden (14.2% of exports in kind) consistently occupied leading positions in the country structure of exports in kind, jointly accounting for 69.7% of total flows.

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

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

Exports in value, K $ US

Exports of non-inflatable inboard motorboats from Norway have increased for the third consecutive year. In 2021, Norway exported 23 812 thousand US dollars worth of these boats, showing a gain of 51.9% versus the previous year. Over the period from 2018 to 2021, exports increased by 198%, with a compound annual growth rate (CAGR) of 43.9%.

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

Throughout 2018 to 2021, Sweden (31.3% of exports in value terms), the Netherlands (16.5% of exports in value terms), and Denmark (13.2% of exports in value terms) remained the key partners in exports in value terms, together accounting for 61.0% of total flows.

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

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

Imports non-inflatable inboard motorboats to Norway

Imports in kind, unit

Imports of non-inflatable inboard motorboats into Norway have declined for the third consecutive year. In 2021, Norway imported approximately 523 units, which is 9.8% less relative to the prior year. Between 2018 and 2021, imports decreased by 65.5%, equating to an annualized rate of -29.9%.

Annual dynamics of product's imports to Norway in kind, 2018-2021, unit

From 2018 to 2021, Mexico (52.2% of imports in kind), the United States (10.3% of imports in kind), and Finland (7.4% of imports in kind) formed the core group of markets for imports in kind, together representing 69.9% of total flows.

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

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

Imports in value, K $ US

After a two-year fall, the volume of non-inflatable inboard motorboat imports into Norway increased. In 2021, imports totalled 69 609 thousand US dollars, equivalent to a sharp increase of 28.1% from a year earlier. Over the period from 2018 to 2021, imports decreased by 14.5%, with a compound annual growth rate (CAGR) of -5.1%. The minimum value was recorded in 2020 at 54 360 thousand US dollars, while the largest decline was recorded in 2019 at 18.4%.

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

From 2018 to 2021, the United Kingdom (23.8% of imports in value terms), Finland (22.0% of imports in value terms), and Poland (9.8% of imports in value terms) stood out as the main markets for imports in value terms, together representing 55.5% of total flows.

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

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