Finland: Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size in Finland

In 2022, the Finnish heat exchange unit market increased by 33% to $X, rising for the third year in a row after two years of decline. In general, consumption, however, showed a abrupt decline. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Heat Exchange Unit Production in Finland

In value terms, heat exchange unit production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 67% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Heat Exchange Unit Exports

Exports from Finland

In 2022, approx. X units of heat exchange units were exported from Finland; picking up by 12% against 2021 figures. The total export volume increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when exports increased by 27% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, heat exchange unit exports expanded markedly to $X in 2022. Overall, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.6% against 2017 indices. The most prominent rate of growth was recorded in 2014 with an increase of 19% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Sweden (X units), Germany (X units) and the United States (X units) were the main destinations of heat exchange unit exports from Finland, together accounting for 36% of total exports. Russia, China, South Korea, Denmark, the Netherlands, Norway, Switzerland, Belarus, Estonia and France lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belarus (with a CAGR of +97.9%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Germany ($X) and Norway ($X) constituted the largest markets for heat exchange unit exported from Finland worldwide, with a combined 36% share of total exports. These countries were followed by the United States, South Korea, China, Denmark, the Netherlands, Belarus, Russia, Switzerland, France and Estonia, which together accounted for a further 43%.

Belarus, with a CAGR of +106.9%, saw 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 2022, the average heat exchange unit export price amounted to $X per unit, increasing by 2.4% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 16%. The export price peaked in 2022 and is expected to retain growth in the near future.

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 Norway ($X per unit), while the average price for exports to Estonia ($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 South Korea (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Exchange Unit Imports

Imports into Finland

In 2022, approx. X units of heat exchange units were imported into Finland; picking up by 21% on the year before. Overall, imports continue to indicate a relatively flat trend pattern. Imports peaked at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, heat exchange unit imports expanded markedly to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Sweden (X units) constituted the largest heat exchange unit supplier to Finland, accounting for a 28% share of total imports. Moreover, heat exchange unit imports from Sweden exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was held by the Czech Republic (X units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+29.9% per year) and the Czech Republic (+19.8% per year).

In value terms, Sweden ($X) constituted the largest supplier of heat exchange units to Finland, comprising 28% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 9.3% share of total imports. It was followed by Italy, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value from Sweden was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+19.8% per year) and Italy (-4.4% per year).

Import Prices by Country

The average heat exchange unit import price stood at $X per unit in 2022, dropping by -6.5% against the previous year. Overall, the import price recorded a mild setback. The most prominent rate of growth was recorded in 2017 when the average import price increased by 21%. Over the period under review, average import prices attained the maximum 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 Germany ($X per unit), while the price for Denmark ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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