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Industry revenue of »retail sale of electrical household appliances« in Norway 2011-2023

Norway is one of the wealthiest countries not only in Europe but also the world, with the fourth highest GDP per capita, as per 2019 figures. This translates into a high earning capacity for the population in general, which has had a positive impact on many consumer industries including household appliances retail. However, the sector’s revenues are expected to grow only marginally from 2.5 billion U.S. dollars in 2018 to 2.6 billion U.S. dollars in 2023. One of the reasons for such tepid growth is the saturation of the market. Not only is the country’s population among the smallest in Europe, it is also expected to exhibit only tepid growth over the short to medium term, thereby limiting the scope for market expansion. Therefore, it is no surprise that not many manufacturers have ventured into this space over the years, with the number actually falling from 27 in 2011 to 26 in 2017.

Industry revenue of »retail sale of electrical household appliances« in Norway from 2011 to 2023

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Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Norway. The industry “retail sale of electrical household appliances in specialised stores“ has the code “G4754“.

Details on the methodology can be found here.

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