Finland: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Finland

In 2021, the Finnish oil dispensing pump market increased by 45% to $X, rising for the third year in a row after two years of decline. In general, consumption continues to indicate measured growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Oil Dispensing Pump Exports

Exports from Finland

In 2021, the amount of petrol and oil dispensing pumps exported from Finland soared to X units, increasing by 143% against the year before. Overall, exports showed significant growth. The pace of growth appeared the most rapid in 2015 with an increase of 184% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, oil dispensing pump exports surged to $X in 2021. Over the period under review, exports showed a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 465% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Lithuania (X units), Latvia (X units) and Estonia (X units) were the main destinations of oil dispensing pump exports from Finland, together comprising 71% 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 Lithuania (with a CAGR of +43.6%), while the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Latvia ($X) and Estonia ($X) appeared to be the largest markets for oil dispensing pump exported from Finland worldwide, together accounting for 86% of total exports.

In terms of the main countries of destination, Lithuania, with a CAGR of +214.8%, 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

In 2021, the average oil dispensing pump export price amounted to $X per unit, waning by -29.5% against the previous year. Over the period under review, the export price, however, saw a modest expansion. The most prominent rate of growth was recorded in 2015 an increase of 99% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Lithuania ($X per unit), while the average price for exports to Sweden ($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 Latvia (+9.1%), while the prices for the other major destinations experienced mixed trend patterns.

Oil Dispensing Pump Imports

Imports into Finland

For the fourth year in a row, Finland recorded growth in supplies from abroad of petrol and oil dispensing pumps, which increased by 59% to X units in 2021. Over the period under review, imports recorded a strong expansion. The pace of growth was the most pronounced in 2020 with an increase of 74%. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, oil dispensing pump imports surged to $X in 2021. In general, total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +79.7% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X units), Germany (X units) and the Netherlands (X units) were the main suppliers of oil dispensing pump imports to Finland, together accounting for 75% of total imports. China, Denmark, Poland and South Korea lagged somewhat behind, together comprising a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +122.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of petrol and oil dispensing pumps to Finland, comprising 55% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 19% share of total imports. It was followed by Denmark, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+38.6% per year) and Denmark (+128.1% per year).

Import Prices by Country

The average oil dispensing pump import price stood at $X per unit in 2021, with an increase of 4.4% against the previous year. Overall, the import price, however, continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2014 when the average import price increased by 36% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+64.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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