Finland: Electric Heating Equipment Market 2024

Electric Heating Equipment Market Size in Finland

The Finnish electric heating equipment market shrank remarkably to $X in 2022, with a decrease of X% against the previous year. In general, consumption continues to indicate a pronounced reduction. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Electric Heating Equipment Production in Finland

In value terms, electric heating equipment production contracted to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. As a result, production attained the peak level of $X, and then dropped in the following year.

Electric Heating Equipment Exports

Exports from Finland

In 2022, shipments abroad of electric space heating apparatus and soil heating apparatus increased by X% to X units, rising for the third consecutive year after five years of decline. Overall, exports, however, saw a noticeable decline. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, electric heating equipment exports shrank remarkably to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then fell notably in the following year.

Exports by Country

The United States (X units), Estonia (X units) and Sweden (X units) were the main destinations of electric heating equipment exports from Finland, with a combined X% share of total exports. Germany, Canada, Latvia, Austria, Norway, Russia, Poland, the UK, Lithuania and China lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for electric space heating apparatus and soil heating apparatus exports from Finland, comprising X% of total exports. The second position in the ranking was held by Estonia ($X), with a X% share of total exports. It was followed by Sweden, with an X% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (X% per year) and Sweden (X% per year).

Export Prices by Country

In 2022, the average electric heating equipment export price amounted to $X per unit, reducing by X% against the previous year. Overall, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2021, and then plummeted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Norway (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Heating Equipment Imports

Imports into Finland

Electric heating equipment imports into Finland reduced rapidly to X units in 2022, falling by X% on the previous year's figure. Overall, imports saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, electric heating equipment imports contracted rapidly to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then shrank sharply in the following year.

Imports by Country

In 2022, China (X units) constituted the largest electric heating equipment supplier to Finland, accounting for a X% share of total imports. Moreover, electric heating equipment imports from China exceeded the figures recorded by the second-largest supplier, Sweden (X units), fourfold. The third position in this ranking was taken by Estonia (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (X% per year) and Estonia (X% per year).

In value terms, the largest electric heating equipment suppliers to Finland were Sweden ($X), China ($X) and Estonia ($X), with a combined X% share of total imports. Germany, Norway, the Netherlands and Lithuania lagged somewhat behind, together accounting for a further X%.

Lithuania, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average electric heating equipment import price amounted to $X per unit, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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