Finland: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Market Size in Finland

The Finnish electrical circuit apparatus market contracted modestly to $X in 2021, declining by -1.7% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Electrical circuit apparatus consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Electrical Circuit Apparatus Production in Finland

In value terms, electrical circuit apparatus production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 9.3% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Electrical Circuit Apparatus Exports

Exports from Finland

In 2021, approx. X tons of electrical apparatus for circuit connection, switching and protection were exported from Finland; picking up by 20% compared with 2020. The total export volume increased at an average annual rate of +3.8% 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 reached the peak and are likely to continue growth in the immediate term.

In value terms, electrical circuit apparatus exports totaled $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X tons), Germany (X tons) and the United States (X tons) were the main destinations of electrical circuit apparatus exports from Finland, together comprising 30% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +27.5%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Estonia ($X) and Germany ($X) constituted the largest markets for electrical circuit apparatus exported from Finland worldwide, with a combined 23% share of total exports. Sweden, Russia, Italy, the Netherlands, China, Poland, Norway, France, the UK, Denmark, Spain and the United Arab Emirates lagged somewhat behind, together comprising a further 42%.

The Netherlands, with a CAGR of +15.1%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2021, the average electrical circuit apparatus export price amounted to $X per ton, with a decrease of -7.2% against the previous year. Over the period under review, the export price saw a noticeable decline. The growth pace was the most rapid in 2013 when the average export price increased by 3.3%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Circuit Apparatus Imports

Imports into Finland

In 2021, after three years of decline, there was significant growth in overseas purchases of electrical apparatus for circuit connection, switching and protection, when their volume increased by 15% to X tons. Overall, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports reached the peak figure at X tons in 2014; afterwards, it flattened through to 2021.

In value terms, electrical circuit apparatus imports surged to $X in 2021. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Sweden (X tons) and China (X tons) were the main suppliers of electrical circuit apparatus imports to Finland, together accounting for 55% of total imports. These countries were followed by Italy, the Netherlands, Estonia, Poland, France, the Czech Republic, Denmark, the UK, the United States and Hungary, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were in the Netherlands (with a CAGR of +13.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of electrical circuit apparatus to Finland, comprising 34% of total imports. The second position in the ranking was held by Sweden ($X), with a 17% share of total imports. It was followed by China, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+8.1% per year) and China (+3.2% per year).

Import Prices by Country

In 2021, the average electrical circuit apparatus import price amounted to $X per ton, growing by 6% against the previous year. Over the last nine years, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2018 when the average import price increased by 10% against the previous year. The import price peaked in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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