Finland: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Finland

In 2022, the Finnish air conditioning machine market decreased by -9% to $X, falling for the fifth consecutive year after two years of growth. Over the period under review, consumption continues to indicate a noticeable downturn. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Air Conditioning Machine Production in Finland

In value terms, air conditioning machine production surged to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt decline. Air conditioning machine production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Air Conditioning Machine Exports

Exports from Finland

In 2022, overseas shipments of non-window or wall air conditioning machines increased by 33% to X units, rising for the third consecutive year after two years of decline. Overall, exports, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2021 with an increase of 54% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, air conditioning machine exports soared to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X units), Norway (X units) and Sweden (X units) were the main destinations of air conditioning machine exports from Finland, with a combined 65% share of total exports. The UK, Denmark, Estonia and Russia lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +50.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Norway ($X) and Sweden ($X) constituted the largest markets for air conditioning machine exported from Finland worldwide, with a combined 74% share of total exports. Estonia, Russia, Denmark and the UK lagged somewhat behind, together comprising a further 13%.

In terms of the main countries of destination, the UK, with a CAGR of +31.8%, recorded the highest growth rate of 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

In 2022, the average air conditioning machine export price amounted to $X per unit, with an increase of 9.8% against the previous year. Overall, the export price enjoyed a moderate increase. The pace of growth was the most pronounced in 2019 when the average export price increased by 53%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per unit), while the average price for exports to the UK ($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 Germany (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Air Conditioning Machine Imports

Imports into Finland

In 2022, supplies from abroad of non-window or wall air conditioning machines increased by 5.6% to X units, rising for the fourth year in a row after two years of decline. In general, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +106.1% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 40% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, air conditioning machine imports expanded slightly to $X in 2022. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 22%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest supplier of air conditioning machine to Finland, accounting for a 52% share of total imports. Moreover, air conditioning machine imports from China exceeded the figures recorded by the second-largest supplier, Sweden (X units), fourfold. The third position in this ranking was taken by Italy (X units), with a 7.3% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-3.4% per year) and Italy (-4.6% per year).

In value terms, Sweden ($X), China ($X) and Malaysia ($X) constituted the largest air conditioning machine suppliers to Finland, with a combined 60% share of total imports. Germany, Italy, Lithuania, the Czech Republic and Denmark lagged somewhat behind, together comprising a further 26%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +18.1%, saw the highest rates of growth with regard to 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 2022, the average air conditioning machine import price amounted to $X per unit, remaining relatively unchanged against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 39% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 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 Sweden ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform