Finland: Vacuum Vessel Market 2024

Vacuum Vessel Market Size in Finland

The Finnish vacuum vessel market reduced to $X in 2022, shrinking by -12.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +31.8% against 2020 indices. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Vacuum Vessel Exports

Exports from Finland

In 2022, shipments abroad of vacuum vessels increased by 17% to X units, rising for the seventh consecutive year after two years of decline. Over the period under review, exports posted a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 37%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, vacuum vessel exports expanded notably to $X in 2022. In general, exports posted a resilient increase. The growth pace was the most rapid in 2021 with an increase of 49%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Latvia (X units), Estonia (X units) and Sweden (X units) were the main destinations of vacuum vessel exports from Finland, together comprising 74% of total exports. Lithuania, Kazakhstan, Norway, the UK and Russia lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the biggest increases were recorded for Kazakhstan (with a CAGR of +84.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X), Latvia ($X) and Sweden ($X) appeared to be the largest markets for vacuum vessel exported from Finland worldwide, with a combined 56% share of total exports. Lithuania, Norway, Kazakhstan, the UK and Russia lagged somewhat behind, together comprising a further 18%.

Kazakhstan, with a CAGR of +81.7%, recorded the highest rates of growth with regard to 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

In 2022, the average vacuum vessel export price amounted to $X per unit, declining by -5.7% against the previous year. Overall, the export price continues to indicate a slight reduction. The pace of growth was the most pronounced in 2021 when the average export price increased by 9.2% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Latvia ($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 Russia (+1.8%), while the prices for the other major destinations experienced mixed trend patterns.

Vacuum Vessel Imports

Imports into Finland

In 2022, the amount of vacuum vessels imported into Finland fell to X units, with a decrease of -11.7% against 2021 figures. The total import volume increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 36%. As a result, imports attained the peak of X units, and then dropped in the following year.

In value terms, vacuum vessel imports contracted to $X in 2022. In general, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +37.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 51%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2022, China (X units) constituted the largest vacuum vessel supplier to Finland, accounting for a 86% share of total imports. Moreover, vacuum vessel imports from China exceeded the figures recorded by the second-largest supplier, Sweden (X units), more than tenfold. The third position in this ranking was taken by Germany (X units), with a 2.1% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+2.3% per year) and Germany (-3.0% per year).

In value terms, China ($X) constituted the largest supplier of vacuum vessels to Finland, comprising 83% of total imports. The second position in the ranking was held by Sweden ($X), with a 3.7% share of total imports. It was followed by Germany, with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+2.7% per year) and Germany (-1.4% per year).

Import Prices by Country

The average vacuum vessel import price stood at $X per unit in 2022, increasing by 2.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.9%. The pace of growth was the most pronounced in 2021 when the average import price increased by 11% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :