Finland: Market for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles 2024

Market Size for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in Finland

In 2022, the Finnish market for electrical lighting or visual signaling equipment for motor vehicles and cycles decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption saw a pronounced contraction. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Production of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in Finland

In value terms, lighting equipment for motor vehicles production contracted to $X in 2022 estimated in export price. Overall, production recorded a significant decrease. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Exports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Exports from Finland

In 2022, overseas shipments of electrical lighting or visual signaling equipment for motor vehicles and cycles increased by X% to X units, rising for the second year in a row after four years of decline. Overall, exports, however, showed a abrupt decline. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, lighting equipment for motor vehicles exports expanded rapidly to $X in 2022. Over the period under review, total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Germany (X units), the United States (X units) and Sweden (X units) were the main destinations of lighting equipment for motor vehicles exports from Finland, together accounting for X% of total exports. Belgium, the Netherlands, Estonia, the UK, Brazil, France, Turkey, Taiwan (Chinese), Romania and Norway lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Romania (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and Sweden ($X) appeared to be the largest markets for lighting equipment for motor vehicles exported from Finland worldwide, with a combined X% share of total exports. The Netherlands, Brazil, Belgium, Estonia, the UK, France, Norway, Turkey, Taiwan (Chinese) and Romania lagged somewhat behind, together comprising a further X%.

Brazil, with a CAGR of X%, 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 export price for electrical lighting or visual signaling equipment for motor vehicles and cycles stood at $X per unit in 2022, falling by X% against the previous year. In general, the export price, however, saw a strong expansion. The pace of growth was the most pronounced in 2020 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then declined in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per unit), while the average price for exports to Romania ($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 Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Imports into Finland

Lighting equipment for motor vehicles imports into Finland contracted rapidly to X units in 2022, which is down by X% against 2021 figures. Over the period under review, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Imports peaked at X units in 2021, and then contracted markedly in the following year.

In value terms, lighting equipment for motor vehicles imports contracted notably to $X in 2022. In general, imports, however, posted strong growth. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then reduced notably in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of lighting equipment for motor vehicles to Finland, with a X% share of total imports. Moreover, lighting equipment for motor vehicles imports from China exceeded the figures recorded by the second-largest supplier, Austria (X units), twofold. The third position in this ranking was held by Sweden (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (X% per year) and Sweden (X% per year).

In value terms, China ($X), Austria ($X) and Sweden ($X) constituted the largest lighting equipment for motor vehicles suppliers to Finland, together accounting for X% of total imports. Slovakia, Germany, Poland, Slovenia and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Slovenia, with a CAGR of X%, saw the highest growth rate of 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 2022, the average import price for electrical lighting or visual signaling equipment for motor vehicles and cycles amounted to $X per unit, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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