Finland: Market for Primary Cells and Batteries 2024

Market Size for Primary Cells and Batteries in Finland

The Finnish primary cell and battery market rose notably to $X in 2022, surging by 11% against the previous year. The market value increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Production of Primary Cells and Batteries in Finland

In value terms, primary cell and battery production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% 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 4%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Primary Cells and Batteries

Exports from Finland

In 2022, overseas shipments of primary cells and batteries decreased by -19.9% to X units for the first time since 2017, thus ending a four-year rising trend. Overall, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 71% against the previous year. The exports peaked at X units in 2021, and then fell sharply in the following year.

In value terms, primary cell and battery exports fell to $X in 2022. Over the period under review, exports, however, showed prominent growth. The pace of growth was the most pronounced in 2013 when exports increased by 54%. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

Estonia (X units), Slovakia (X units) and Norway (X units) were the main destinations of primary cell and battery exports from Finland, together accounting for 80% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovakia (with a CAGR of +111.4%), while the other leaders experienced more modest paces of growth.

In value terms, Norway ($X) emerged as the key foreign market for primary cells and batteries exports from Finland, comprising 30% of total exports. The second position in the ranking was held by Slovakia ($X), with a 13% share of total exports. It was followed by Estonia, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Norway totaled +22.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+76.9% per year) and Estonia (+15.4% per year).

Export Prices by Country

The average primary cell and battery export price stood at $X per unit in 2022, picking up by 7.4% against the previous year. Over the period under review, the export price, however, showed a perceptible decrease. The growth pace was the most rapid in 2013 an increase of 18%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Estonia ($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 Sweden (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Primary Cells and Batteries

Imports into Finland

For the fifth year in a row, Finland recorded growth in purchases abroad of primary cells and batteries, which increased by 1.1% to X units in 2022. In general, imports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2014 when imports increased by 27% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, primary cell and battery imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when imports increased by 18% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest primary cell and battery supplier to Finland, accounting for a 71% share of total imports. Moreover, primary cell and battery imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. The third position in this ranking was held by Belgium (X units), with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.8% per year) and Belgium (-5.0% per year).

In value terms, China ($X), Germany ($X) and the United States ($X) were the largest primary cell and battery suppliers to Finland, together comprising 76% of total imports. Belgium, Sweden and the UK lagged somewhat behind, together comprising a further 10%.

In terms of the main suppliers, the UK, with a CAGR of +14.7%, 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

The average primary cell and battery import price stood at $X per unit in 2022, with an increase of 12% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2013 when the average import price increased by 16%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform