Finland: Bed-Convertible Seat Market 2024

Bed-Convertible Seat Market Size in Finland

In 2021, the Finnish bed-convertible seat market increased by 6.3% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption continues to indicate a temperate expansion. Bed-convertible seat consumption peaked in 2021 and is expected to retain growth in the near future.

Bed-Convertible Seat Production in Finland

In value terms, bed-convertible seat production rose remarkably to $X in 2021 estimated in export price. Overall, production posted a mild expansion. The pace of growth appeared the most rapid in 2020 with an increase of 126% against the previous year. Over the period under review, production hit record highs in 2021 and is expected to retain growth in the immediate term.

Bed-Convertible Seat Exports

Exports from Finland

For the third year in a row, Finland recorded decline in overseas shipments of seats convertible into beds, which decreased by -22.8% to X units in 2021. Over the period under review, exports showed a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 123% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, bed-convertible seat exports skyrocketed to $X in 2021. Overall, exports showed a deep contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 153%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Russia (X units) was the main destination for bed-convertible seat exports from Finland, accounting for a 72% share of total exports. Moreover, bed-convertible seat exports to Russia exceeded the volume sent to the second major destination, China (X units), sixfold. The third position in this ranking was held by the UK (X units), with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia stood at -14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+26.9% per year) and the UK (+31.9% per year).

In value terms, Russia ($X), China ($X) and India ($X) were the largest markets for bed-convertible seat exported from Finland worldwide, together comprising 91% of total exports.

In terms of the main countries of destination, India, with a CAGR of +139.7%, recorded 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 bed-convertible seat export price amounted to $X per unit, rising by 88% against the previous year. Overall, the export price continues to indicate a buoyant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was China ($X per unit), while the average price for exports to the UK ($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 India (+50.3%), while the prices for the other major destinations experienced more modest paces of growth.

Bed-Convertible Seat Imports

Imports into Finland

In 2021, approx. X units of seats convertible into beds were imported into Finland; approximately reflecting the previous year. Overall, total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +3.1% 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 +63.5% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 65% against the previous year. As a result, imports attained the peak of X units, leveling off in the following year.

In value terms, bed-convertible seat imports expanded sharply to $X in 2021. Over the period under review, total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.9% 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 +69.9% against 2015 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 36% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

Estonia (X units), Sweden (X units) and Denmark (X units) were the main suppliers of bed-convertible seat imports to Finland, together accounting for 61% of total imports. Lithuania, Poland, Ukraine, Turkey and China lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2021, the biggest increases were recorded for Ukraine (with a CAGR of +58.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest bed-convertible seat suppliers to Finland were Estonia ($X), Sweden ($X) and Denmark ($X), with a combined 59% share of total imports. Poland, Lithuania, Ukraine, China and Turkey lagged somewhat behind, together accounting for a further 39%.

Among the main suppliers, Ukraine, with a CAGR of +60.4%, 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 bed-convertible seat import price stood at $X per unit in 2021, picking up by 11% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 23%. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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