Finland: Market for Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V 2024

Market Size for Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V in Finland

The Finnish electrical board and console market declined to $X in 2022, reducing by -12.9% against the previous year. In general, consumption, however, enjoyed a prominent expansion. Electrical board and console consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding X V in Finland

In value terms, electrical board and console production skyrocketed to $X in 2022 estimated in export price. In general, production enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of 106%. Electrical board and console production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V

Exports from Finland

In 2022, approx. X units of boards, consoles, equipped with electrical switching apparatus for a voltage exceeding X v were exported from Finland; growing by 61% on the previous year. In general, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 129%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, electrical board and console exports fell significantly to $X in 2022. Overall, exports showed notable growth. The most prominent rate of growth was recorded in 2013 with an increase of 205%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Norway (X units) was the main destination for electrical board and console exports from Finland, with a 59% share of total exports. Moreover, electrical board and console exports to Norway exceeded the volume sent to the second major destination, Latvia (X units), threefold. The third position in this ranking was held by India (X units), with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Norway amounted to +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+76.3% per year) and India (+233.7% per year).

In value terms, Norway ($X), the UK ($X) and Latvia ($X) were the largest markets for electrical board and console exported from Finland worldwide, together accounting for 62% of total exports. India and Italy lagged somewhat behind, together accounting for a further 7.6%.

Among the main countries of destination, India, with a CAGR of +178.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electrical board and console export price stood at $X per unit in 2022, waning by -56.7% against the previous year. Over the period under review, the export price showed a perceptible descent. The pace of growth was the most pronounced in 2021 an increase of 112%. Over the period under review, the average export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Norway ($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 Azerbaijan (+49.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V

Imports into Finland

In 2022, the amount of boards, consoles, equipped with electrical switching apparatus for a voltage exceeding X v imported into Finland fell sharply to X units, dropping by -19.6% against the previous year. Overall, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 40%. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, electrical board and console imports shrank to $X in 2022. Over the period under review, imports, however, showed buoyant growth. The pace of growth was the most pronounced in 2013 when imports increased by 45%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Estonia (X units) constituted the largest electrical board and console supplier to Finland, with a 62% share of total imports. Moreover, electrical board and console imports from Estonia exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was held by the Czech Republic (X units), with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Estonia totaled +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+25.0% per year) and the Czech Republic (+16.1% per year).

In value terms, Estonia ($X), Germany ($X) and the Czech Republic ($X) appeared to be the largest electrical board and console suppliers to Finland, together accounting for 81% of total imports. Turkey, Italy and Sweden lagged somewhat behind, together comprising a further 10%.

Italy, with a CAGR of +20.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average electrical board and console import price stood at $X per unit in 2022, with an increase of 14% against the previous year. Over the period under review, the import price recorded a mild increase. The growth pace was the most rapid in 2019 when the average import price increased by 23%. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while the price for Estonia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :