Finland: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Finland

In 2022, the Finnish market for instruments for measuring electrical quantities increased by X% to $X, rising for the second consecutive year after six years of decline. In general, consumption, however, recorded a relatively flat trend pattern. Instruments for measuring electrical quantities consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Instruments for Measuring Electrical Quantities in Finland

In value terms, instruments for measuring electrical quantities production surged to $X in 2022 estimated in export price. Over the period under review, production, however, showed a deep slump. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Instruments for Measuring Electrical Quantities

Exports from Finland

In 2022, approx. X units of instruments for measuring electrical quantities were exported from Finland; waning by X% compared with 2021 figures. Overall, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, instruments for measuring electrical quantities exports reduced sharply to $X in 2022. Over the period under review, exports saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Estonia (X units) was the main destination for instruments for measuring electrical quantities exports from Finland, with a X% share of total exports. Moreover, instruments for measuring electrical quantities exports to Estonia exceeded the volume sent to the second major destination, Russia (X units), threefold. China (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Estonia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and China (X% per year).

In value terms, the largest markets for instruments for measuring electrical quantities exported from Finland were China ($X), Estonia ($X) and Russia ($X), together comprising X% of total exports. The Netherlands, Ireland, Norway, Sweden, India, Malaysia, Germany, the UK, Lithuania and Thailand lagged somewhat behind, together comprising a further X%.

Ireland, with a CAGR of X%, recorded the highest growth rate of the value of exports, among 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 instruments for measuring electrical quantities stood at $X per unit in 2022, growing by X% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2022: its price 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, instruments for measuring electrical quantities export price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per unit), while the average price for exports to India ($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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into Finland

In 2022, the amount of instruments for measuring electrical quantities imported into Finland expanded remarkably to X units, picking up by X% compared with the year before. In general, imports, however, showed a mild shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, instruments for measuring electrical quantities imports amounted to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest instruments for measuring electrical quantities supplier to Finland, accounting for a X% share of total imports. Moreover, instruments for measuring electrical quantities imports from China exceeded the figures recorded by the second-largest supplier, Germany (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 rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Sweden (X% per year).

In value terms, China ($X), Germany ($X) and the Netherlands ($X) appeared to be the largest instruments for measuring electrical quantities suppliers to Finland, with a combined X% share of total imports. Sweden, the United States, Denmark, Romania, Slovenia, the UK, Switzerland, Taiwan (Chinese) and France lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Romania, with a CAGR of X%, 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

In 2022, the average import price for instruments for measuring electrical quantities amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% 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 the United States ($X per unit), while the price for Taiwan (Chinese) ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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