Finland: Electrical Insulating Fittings Market Overview 2021

Electrical Insulating Fittings Market Size in Finland

In 2020, the Finnish electrical insulating fittings market increased by X% to $X, rising for the seventh year in a row after five years of decline. Over the period under review, the total consumption indicated a temperate expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by +X% against 2013 indices. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Over the period under review, the market hit record highs in 2020 and is expected to retain growth in the near future.

Electrical Insulating Fittings Production in Finland

In value terms, electrical insulating fittings production rose sharply to $X in 2020 estimated in export prices. Over the period under review, production, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2008 when the production volume increased by X% year-to-year. Over the period under review, production hit record highs in 2020 and is likely to continue growth in years to come.

Electrical Insulating Fittings Exports

Exports from Finland

In 2020, after four years of growth, there was significant decline in shipments abroad of electrical insulating fittings of plastics, when their volume decreased by -X% to X units. In general, exports, however, recorded strong growth. The pace of growth was the most pronounced in 2013 when exports increased by X% year-to-year. Exports peaked at X units in 2019, and then fell significantly in the following year.

In value terms, electrical insulating fittings exports declined to $X in 2020. Overall, exports, however, posted perceptible growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% year-to-year. Over the period under review, exports hit record highs at $X in 2018; however, from 2019 to 2020, exports remained at a lower figure.

Exports by Country

Estonia (X units) was the main destination for electrical insulating fittings exports from Finland, accounting for a X% share of total exports. Moreover, electrical insulating fittings exports to Estonia exceeded the volume sent to the second major destination, India (X units), ninefold.

From 2007 to 2020, the average annual growth rate of volume to Estonia amounted to +X%.

In value terms, Estonia ($X) remains the key foreign market for electrical insulating fittings exports from Finland, comprising X% of total exports. The second position in the ranking was occupied by India ($X), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of value to Estonia stood at +X%.

Export Prices by Country

In 2020, the average electrical insulating fittings export price amounted to $X per unit, with an increase of X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per unit in 2012; however, from 2013 to 2020, export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2020, the country with the highest price was Estonia ($X per unit), while the average price for exports to India amounted to $X per unit.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Estonia.

Electrical Insulating Fittings Imports

Imports into Finland

In 2020, overseas purchases of electrical insulating fittings of plastics decreased by -X% to X units for the first time since 2017, thus ending a two-year rising trend. In general, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2012 when imports increased by X% year-to-year. Over the period under review, imports attained the peak figure at X units in 2007; however, from 2008 to 2020, imports stood at a somewhat lower figure.

In value terms, electrical insulating fittings imports dropped dramatically to $X in 2020. Over the period under review, imports recorded a deep contraction. The pace of growth appeared the most rapid in 2012 when imports increased by X% y-o-y. Over the period under review, imports hit record highs at $X in 2007; however, from 2008 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Germany (X units) constituted the largest electrical insulating fittings supplier to Finland, with a X% share of total imports. Moreover, electrical insulating fittings imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), threefold. Estonia (X units) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual growth rate of volume from Germany stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and Estonia (+X% per year).

In value terms, Germany ($X), the U.S. ($X) and Estonia ($X) constituted the largest electrical insulating fittings suppliers to Finland, with a combined X% share of total imports.

Among the main suppliers, the U.S. recorded 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

In 2020, the average electrical insulating fittings import price amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2020, import prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was the U.S. ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform