Finland: Market for Industrial, Laboratory or Bakery Ovens 2024

Market Size for Industrial, Laboratory or Bakery Ovens in Finland

The Finnish market for industrial, laboratory or bakery ovens was estimated at $X in 2022, remaining constant against the previous year. Overall, consumption posted a buoyant expansion. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in the immediate term.

Production of Industrial, Laboratory or Bakery Ovens in Finland

In value terms, industrial, laboratory or bakery oven production dropped to $X in 2022 estimated in export price. Over the period under review, the total production indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.6% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 73%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Industrial, Laboratory or Bakery Ovens

Exports from Finland

In 2022, after two years of decline, there was significant growth in overseas shipments of industrial, laboratory or bakery ovens, when their volume increased by 26% to X units. In general, exports saw temperate growth. The pace of growth was the most pronounced in 2019 when exports increased by 315% against the previous year. 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, industrial, laboratory or bakery oven exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a noticeable slump. The growth pace was the most rapid in 2018 when exports increased by 332%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X units) was the main destination for industrial, laboratory or bakery oven exports from Finland, with a 55% share of total exports. Moreover, industrial, laboratory or bakery oven exports to Russia exceeded the volume sent to the second major destination, Switzerland (X units), threefold. The third position in this ranking was taken by the United States (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia amounted to +20.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+85.6% per year) and the United States (+57.2% per year).

In value terms, Russia ($X) emerged as the key foreign market for industrial, laboratory or bakery ovens exports from Finland, comprising 82% of total exports. The second position in the ranking was held by the United States ($X), with a 10% share of total exports. It was followed by Norway, with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia totaled +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+74.9% per year) and Norway (+7.8% per year).

Export Prices by Country

In 2022, the average export price for industrial, laboratory or bakery ovens amounted to $X per unit, increasing by 2% against the previous year. In general, the export price, however, recorded a abrupt downturn. The growth pace was the most rapid in 2018 an increase of 332%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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 Russia ($X per unit), while the average price for exports to Switzerland ($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 the UK (+32.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial, Laboratory or Bakery Ovens

Imports into Finland

In 2022, industrial, laboratory or bakery oven imports into Finland dropped rapidly to X units, with a decrease of -16.2% against 2021 figures. In general, imports recorded a noticeable setback. The most prominent rate of growth was recorded in 2018 with an increase of 37%. Imports peaked at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, industrial, laboratory or bakery oven imports declined to $X in 2022. Overall, imports, however, recorded a noticeable increase. The growth pace was the most rapid in 2013 when imports increased by 53%. Over the period under review, imports hit record highs at $X in 2021, and then shrank in the following year.

Imports by Country

Sweden (X units), Germany (X units) and Italy (X units) were the main suppliers of industrial, laboratory or bakery oven imports to Finland, together comprising 51% of total imports. Turkey, China, the United States, the Czech Republic, the UK and Norway lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +65.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of industrial, laboratory or bakery ovens to Finland, comprising 64% of total imports. The second position in the ranking was held by Sweden ($X), with an 18% share of total imports. It was followed by the United States, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-1.6% per year) and the United States (+21.6% per year).

Import Prices by Country

In 2022, the average import price for industrial, laboratory or bakery ovens amounted to $X per unit, rising by 2.1% against the previous year. Over the period under review, the import price saw a prominent expansion. The most prominent rate of growth was recorded in 2016 when the average import price increased by 48% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

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 Germany ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+45.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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