Finland: Electric Radiator Market 2025

Electric Radiator Market Size in Finland

After two years of decline, the Finnish electric radiator market increased by 46% to $X in 2021. Over the period under review, consumption, however, saw a mild downturn. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Electric Radiator Production in Finland

In value terms, electric radiator production dropped sharply to $X in 2021 estimated in export price. Over the period under review, production faced a deep downturn. The growth pace was the most rapid in 2014 when the production volume increased by 17%. Electric radiator production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Electric Radiator Exports

Exports from Finland

In 2021, overseas shipments of electric radiators and convection heaters increased by 1.6% to X units, rising for the second year in a row after five years of decline. In general, exports, however, continue to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2020 with an increase of 31% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, electric radiator exports soared to $X in 2021. The total export value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units), Estonia (X units) and Germany (X units) were the main destinations of electric radiator exports from Finland, with a combined 50% share of total exports. These countries were followed by Austria, Sweden, Canada, Russia, the Netherlands, Lithuania, Poland, Latvia, Norway and the UK, which together accounted for a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +47.0%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for electric radiators and convection heaters exports from Finland, comprising 27% of total exports. The second position in the ranking was taken by Germany ($X), with a 12% share of total exports. It was followed by Estonia, with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +19.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+11.3% per year) and Estonia (+4.0% per year).

Export Prices by Country

In 2021, the average electric radiator export price amounted to $X per unit, picking up by 31% against the previous year. Overall, the export price showed strong growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+16.0%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Radiator Imports

Imports into Finland

In 2021, approx. X units of electric radiators and convection heaters were imported into Finland; with an increase of 53% against the year before. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by 61%. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, electric radiator imports skyrocketed to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 48%. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, China (X units) constituted the largest supplier of electric radiator to Finland, accounting for a 56% share of total imports. Moreover, electric radiator imports from China exceeded the figures recorded by the second-largest supplier, Sweden (X units), twofold. The third position in this ranking was held by Estonia (X units), with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+15.0% per year) and Estonia (+55.8% per year).

In value terms, Sweden ($X), China ($X) and Estonia ($X) constituted the largest electric radiator suppliers to Finland, with a combined 83% share of total imports. These countries were followed by Germany, Lithuania and Norway, which together accounted for a further 6.9%.

Among the main suppliers, Lithuania, with a CAGR of +100.0%, 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 2021, the average electric radiator import price amounted to $X per unit, waning by -4.8% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 26% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Norway (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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