Finland: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Finland

The Finnish commercial refrigeration equipment market soared to $X in 2021, growing by 25% against the previous year. In general, consumption saw prominent growth. Commercial refrigeration equipment consumption peaked in 2021 and is likely to continue growth in the near future.

Commercial Refrigeration Equipment Production in Finland

In value terms, commercial refrigeration equipment production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a deep contraction. The pace of growth appeared the most rapid in 2017 with an increase of 25%. Commercial refrigeration equipment production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Commercial Refrigeration Equipment Exports

Exports from Finland

In 2021, approx. X units of refrigerating and freezing equipment and heat pumps (except household type equipment) were exported from Finland; surging by 26% compared with the year before. In general, exports, however, recorded a noticeable decrease. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, commercial refrigeration equipment exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a perceptible shrinkage. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Norway (X units), Pakistan (X units) and Sweden (X units) were the main destinations of commercial refrigeration equipment exports from Finland, together accounting for 49% 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 Pakistan (with a CAGR of +145.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for commercial refrigeration equipment exported from Finland were Norway ($X), Sweden ($X) and Germany ($X), together accounting for 56% of total exports. These countries were followed by Denmark, Poland, Estonia, Russia, Pakistan and China, which together accounted for a further 27%.

Pakistan, with a CAGR of +97.3%, saw the highest growth rate of the value of exports, in terms of 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

The average commercial refrigeration equipment export price stood at $X per unit in 2021, reducing by -4.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 17% against the previous year. The export price peaked at $X per unit in 2020, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per unit), while the average price for exports to Pakistan ($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 Poland (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Finland

In 2021, the amount of refrigerating and freezing equipment and heat pumps (except household type equipment) imported into Finland surged to X units, increasing by 32% compared with the previous year. Overall, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +7.2% 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 +72.9% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, commercial refrigeration equipment imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.7% 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 +96.5% against 2015 indices. The pace of growth was the most pronounced in 2018 with an increase of 24% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Sweden (X units) constituted the largest commercial refrigeration equipment supplier to Finland, with a 36% share of total imports. Moreover, commercial refrigeration equipment imports from Sweden exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. The third position in this ranking was taken by China (X units), with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Sweden amounted to +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+4.4% per year) and China (+6.7% per year).

In value terms, Sweden ($X) constituted the largest supplier of refrigerating and freezing equipment and heat pumps (except household type equipment) to Finland, comprising 37% of total imports. The second position in the ranking was taken by Germany ($X), with a 15% share of total imports. It was followed by Italy, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Sweden amounted to +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+8.8% per year) and Italy (+5.0% per year).

Import Prices by Country

In 2021, the average commercial refrigeration equipment import price amounted to $X per unit, dropping by -6.4% against the previous year. Overall, the import price saw a pronounced downturn. The growth pace was the most rapid in 2017 an increase of 13% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, 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 ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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