Finland: Static Converter Market 2024

Static Converter Market Size in Finland

For the sixth year in a row, the Finnish static converter market recorded growth in sales value, which increased by 8.6% to $X in 2021. Over the period under review, consumption, however, saw a slight descent. Static converter consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Static Converter Production in Finland

In value terms, static converter production rose remarkably to $X in 2021 estimated in export price. In general, production recorded a noticeable reduction. The most prominent rate of growth was recorded in 2018 with an increase of 9.2% against the previous year. Static converter production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Static Converter Exports

Exports from Finland

In 2021, shipments abroad of static converters decreased by -9.1% to X units for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports continue to indicate a noticeable downturn. The pace of growth was the most pronounced in 2018 when exports increased by 79% against the previous year. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, static converter exports amounted to $X in 2021. In general, exports recorded a slight decline. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units), the United States (X units) and Sweden (X units) were the main destinations of static converter exports from Finland, with a combined 31% share of total exports. Italy, India, China, Russia, Norway, Turkey, Australia, the UK, Estonia and the Netherlands lagged somewhat behind, together comprising a further 37%.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +11.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and Sweden ($X) were the largest markets for static converter exported from Finland worldwide, together accounting for 29% of total exports. China, Italy, Norway, the Netherlands, Russia, the UK, Turkey, India, Australia and Estonia lagged somewhat behind, together comprising a further 37%.

In terms of the main countries of destination, Estonia, with a CAGR of +6.4%, saw 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

The average static converter export price stood at $X per unit in 2021, increasing by 25% against the previous year. Over the period under review, the export price enjoyed perceptible growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 176% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was China ($X per unit), while the average price for exports to Estonia ($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 (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Static Converter Imports

Imports into Finland

In 2021, purchases abroad of static converters increased by 15% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 599%. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, static converter imports soared to $X in 2021. In general, total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +105.9% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X units), China (X units) and Estonia (X units) were the main suppliers of static converter imports to Finland, with a combined 62% share of total imports. The Netherlands, Sweden, Slovakia, Italy, the United States, Switzerland and Denmark lagged somewhat behind, together comprising a further 29%.

From 2012 to 2021, the biggest increases were recorded for Slovakia (with a CAGR of +45.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of static converters to Finland, comprising 36% of total imports. The second position in the ranking was taken by China ($X), with a 14% share of total imports. It was followed by Estonia, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +27.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-2.4% per year) and Estonia (-7.4% per year).

Import Prices by Country

The average static converter import price stood at $X per unit in 2021, with an increase of 20% against the previous year. Over the period under review, the import price continues to indicate a prominent increase. The pace of growth was the most pronounced in 2013 an increase of 726% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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