Finland: Electrical Transformer Market 2024

Electrical Transformer Market Size in Finland

The Finnish electrical transformer market declined slightly to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption saw a deep reduction. Electrical transformer consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Electrical Transformer Production in Finland

In value terms, electrical transformer production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, showed a mild shrinkage. Electrical transformer production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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Electrical Transformer Exports

Exports from Finland

In 2022, shipments abroad of electrical transformers increased by X% to X units, rising for the second consecutive year after three years of decline. Over the period under review, total exports indicated prominent growth from 2012 to 2022: its volume 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. Based on 2022 figures, exports increased by X% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, electrical transformer exports amounted to $X in 2022. Overall, total exports indicated a modest expansion from 2012 to 2022: its value 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. Based on 2022 figures, exports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Estonia (X units), China (X units) and Belgium (X units) were the main destinations of electrical transformer exports from Finland, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for electrical transformers exports from Finland, comprising X% of total exports. The second position in the ranking was taken by Sweden ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

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

Export Prices by Country

In 2022, the average electrical transformer export price amounted to $X per unit, reducing by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt decline. The growth pace was the most rapid in 2020 when the average export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per unit), while the average price for exports to Estonia ($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 Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Transformer Imports

Imports into Finland

In 2022, overseas purchases of electrical transformers decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports saw a pronounced decrease. The most prominent rate of growth was recorded in 2014 when imports increased by X%. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, electrical transformer imports soared to $X in 2022. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its value 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. Based on 2022 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Germany (X units), Estonia (X units) and China (X units) were the main suppliers of electrical transformer imports to Finland, with a combined X% share of total imports. The Netherlands, Hong Kong SAR, Sweden, the United States and France lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical transformer suppliers to Finland were Sweden ($X), Estonia ($X) and Germany ($X), together comprising X% of total imports. France, China, the United States, the Netherlands and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Hong Kong SAR, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, 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 electrical transformer import price amounted to $X per unit, rising by X% against the previous year. In general, the import price continues to indicate a resilient increase. The growth pace was the most rapid in 2015 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: 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 Hong Kong SAR (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform