Finland: Bicycle Lighting Market 2024

Bicycle Lighting Market Size in Finland

In 2021, the Finnish bicycle lighting market was finally on the rise to reach $X after two years of decline. Overall, consumption showed a resilient expansion. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Bicycle Lighting Production in Finland

In value terms, bicycle lighting production totaled $X in 2021 estimated in export price. Over the period under review, production showed a drastic downturn. The pace of growth was the most pronounced in 2014 when the production volume increased by 64%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Bicycle Lighting Exports

Exports from Finland

In 2021, approx. X units of electrical or battery operated lighting or visual signalling for bicycles were exported from Finland; surging by 9.4% on the previous year. Overall, exports enjoyed a prominent expansion. The growth pace was the most rapid in 2013 when exports increased by 191%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, bicycle lighting exports skyrocketed to $X in 2021. In general, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 151% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X units), Taiwan (Chinese) (X units) and Turkey (X units) were the main destinations of bicycle lighting exports from Finland, together comprising 62% of total exports. These countries were followed by Indonesia, Sweden, Serbia, the Netherlands, Lithuania, Bangladesh, Hungary and Switzerland, which together accounted for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Serbia (with a CAGR of +69.3%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Taiwan (Chinese) ($X) and Indonesia ($X) were the largest markets for bicycle lighting exported from Finland worldwide, together accounting for 67% of total exports. These countries were followed by the Netherlands, Sweden, Turkey, Bangladesh, Lithuania, Switzerland, Serbia and Hungary, which together accounted for a further 24%.

In terms of the main countries of destination, Turkey, with a CAGR of +60.3%, saw the highest rates of growth with regard to 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 bicycle lighting export price stood at $X per unit in 2021, increasing by 9.4% against the previous year. Overall, the export price, however, recorded a pronounced decline. The most prominent rate of growth was recorded in 2018 an increase of 14% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, 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 Indonesia ($X per unit), while the average price for exports to Serbia ($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 the Netherlands (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Bicycle Lighting Imports

Imports into Finland

In 2021, overseas purchases of electrical or battery operated lighting or visual signalling for bicycles increased by 80% to X units, rising for the fifth year in a row after two years of decline. Over the period under review, imports posted strong growth. The pace of growth was the most pronounced in 2017 when imports increased by 81%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, bicycle lighting imports surged to $X in 2021. Overall, imports saw a strong expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 87% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, China (X units) constituted the largest supplier of bicycle lighting to Finland, accounting for a 75% share of total imports. Moreover, bicycle lighting imports from China exceeded the figures recorded by the second-largest supplier, Sweden (X units), sevenfold. The third position in this ranking was taken by the Netherlands (X units), with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+21.0% per year) and the Netherlands (+37.5% per year).

In value terms, China ($X) constituted the largest supplier of electrical or battery operated lighting or visual signalling for bicycles to Finland, comprising 59% of total imports. The second position in the ranking was taken by Sweden ($X), with a 16% share of total imports. It was followed by Taiwan (Chinese), with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+25.3% per year) and Taiwan (Chinese) (+30.9% per year).

Import Prices by Country

The average bicycle lighting import price stood at $X per unit in 2021, leveling off at the previous year. Over the period under review, import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bicycle lighting import price increased by +23.3% against 2017 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by 54% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a 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 Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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