Finland: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Finland

In 2022, after five years of growth, there was decline in the Finnish market for turbo, rotary and reciporating displacement compressors, when its value decreased by -0.1% to $X. In general, consumption showed a abrupt setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Turbo, Rotary and Reciporating Displacement Compressors in Finland

In value terms, production of turbo, rotary and reciporating displacement compressors fell notably to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 31%. Production of peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports from Finland

Exports of turbo, rotary and reciporating displacement compressors from Finland contracted to X units in 2022, dropping by -13.5% compared with the previous year's figure. In general, exports showed a perceptible reduction. The pace of growth appeared the most rapid in 2021 when exports increased by 41% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of turbo, rotary and reciporating displacement compressors contracted slightly to $X in 2022. Over the period under review, total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 +15.8% against 2020 indices. The pace of growth was the most pronounced in 2014 when exports increased by 46% against the previous year. The exports peaked at $X in 2021, and then shrank slightly in the following year.

Exports by Country

France (X units), Germany (X units) and Sweden (X units) were the main destinations of exports of turbo, rotary and reciporating displacement compressors from Finland, together accounting for 42% of total exports. Estonia, the Netherlands, Russia, the United States, Romania, Norway, Latvia, China, Austria and the United Arab Emirates lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +90.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Norway ($X) and Germany ($X) constituted the largest markets for turbo, rotary and reciporating displacement compressor exported from Finland worldwide, with a combined 37% share of total exports. The United States, the Netherlands, France, Sweden, Russia, Romania, Austria, Estonia, Latvia and the United Arab Emirates lagged somewhat behind, together accounting for a further 28%.

Romania, with a CAGR of +87.5%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, picking up by 12% against the previous year. Over the period under review, the export price enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 50%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Latvia ($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 Sweden (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports into Finland

In 2022, overseas purchases of turbo, rotary and reciporating displacement compressors decreased by -3.9% to X units for the first time since 2016, thus ending a five-year rising trend. Overall, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 35%. Over the period under review, imports of hit record highs at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of turbo, rotary and reciporating displacement compressors rose slightly to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 26%. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of turbo, rotary and reciporating displacement compressor to Finland, accounting for a 49% share of total imports. Moreover, imports of turbo, rotary and reciporating displacement compressors from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was taken by Switzerland (X units), with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.8% per year) and Switzerland (-10.7% per year).

In value terms, the largest turbo, rotary and reciporating displacement compressor suppliers to Finland were Germany ($X), Switzerland ($X) and the UK ($X), together accounting for 47% of total imports. Serbia, China, Italy, Ukraine, Taiwan (Chinese) and Japan lagged somewhat behind, together accounting for a further 26%.

Among the main suppliers, Serbia, with a CAGR of +280.9%, saw the highest growth rate of 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 import price for turbo, rotary and reciporating displacement compressors amounted to $X per unit, increasing by 6.7% against the previous year. Over the period under review, the import price enjoyed a strong expansion. The most prominent rate of growth was recorded in 2014 when the average import price increased by 82% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2022, import prices stood 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 Serbia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+40.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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