Finland: Market for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA 2023

Market Size for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA in Finland

In 2022, after three years of growth, there was decline in the Finnish market for electrical transformers with liquid dielectric, of power handling capacity under X kVA, when its value decreased by -1.4% to $X. In general, consumption posted a prominent expansion. As a result, consumption reached the peak level of $X, and then fell modestly in the following year.

Production of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under X kVA in Finland

In value terms, production of electrical transformers with liquid dielectric, of power handling capacity under X kVA rose remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2015 when the production volume increased by 65%. Over the period under review, production of hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA

Exports from Finland

In 2022, shipments abroad of electrical transformers with liquid dielectric, of power handling capacity under X kVA increased by 9.2% to X units, rising for the sixth consecutive year after two years of decline. Over the period under review, exports showed a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 780%. Over the period under review, the exports of hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, exports of electrical transformers with liquid dielectric, of power handling capacity under X kVA reached $X in 2022. In general, total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +69.1% against 2015 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 27% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

Estonia (X units), China (X units) and Belgium (X units) were the main destinations of exports of electrical transformers with liquid dielectric, of power handling capacity under X kVA from Finland, with a combined 76% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +81.0%), while the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), China ($X) and Estonia ($X) constituted the largest markets for electrical transformers with liquid dielectric, of power handling capacity under X kVA exported from Finland worldwide, with a combined 37% share of total exports.

Among the main countries of destination, Belgium, with a CAGR of +30.7%, saw the highest growth rate of 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 2022, the average export price for electrical transformers with liquid dielectric, of power handling capacity under X kVA amounted to $X per unit, dropping by -5.4% against the previous year. Over the period under review, the export price continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2018 an increase of 27%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Germany ($X per unit), while the average price for exports to Estonia ($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 China (-15.7%), while the prices for the other major destinations experienced a decline.

Imports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA

Imports into Finland

For the fifth consecutive year, Finland recorded growth in purchases abroad of electrical transformers with liquid dielectric, of power handling capacity under X kVA, which increased by 8.3% to X units in 2022. In general, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 531% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, imports of electrical transformers with liquid dielectric, of power handling capacity under X kVA reduced rapidly to $X in 2022. Over the period under review, imports showed a noticeable increase. The pace of growth appeared the most rapid in 2021 when imports increased by 103% against the previous year. As a result, imports reached the peak of $X, and then contracted significantly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electrical transformers with liquid dielectric, of power handling capacity under X kVA to Finland, with a 43% share of total imports. Moreover, imports of electrical transformers with liquid dielectric, of power handling capacity under X kVA from China exceeded the figures recorded by the second-largest supplier, Estonia (X units), twofold. The United States (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +19.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+26.9% per year) and the United States (+32.7% per year).

In value terms, the largest electrical transformers with liquid dielectric, of power handling capacity under X kVA suppliers to Finland were China ($X), Estonia ($X) and France ($X), together comprising 40% of total imports. Germany, the United States, Malaysia, Taiwan (Chinese) and Japan lagged somewhat behind, together comprising a further 17%.

In terms of the main suppliers, the United States, with a CAGR of +18.3%, 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

The average import price for electrical transformers with liquid dielectric, of power handling capacity under X kVA stood at $X per unit in 2022, waning by -46.7% against the previous year. Overall, the import price saw a drastic downturn. The pace of growth was the most pronounced in 2015 an increase of 49%. Over the period under review, average import prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Malaysia ($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 (-2.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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