Finland: Electric Rotary Converter Market 2024

Electric Rotary Converter Market Size in Finland

In 2021, the Finnish electric rotary converter market decreased by -40.8% to $X, falling for the third consecutive year after two years of growth. In general, consumption saw a abrupt contraction. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Electric Rotary Converter Exports

Exports from Finland

In 2021, overseas shipments of electric rotary converters decreased by -48.5% to X units, falling for the second year in a row after two years of growth. In general, exports saw a abrupt downturn. The pace of growth was the most pronounced in 2014 when exports increased by 800% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, electric rotary converter exports surged to $X in 2021. Over the period under review, exports recorded a noticeable reduction. The most prominent rate of growth was recorded in 2019 when exports increased by 1,483%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Russia (X units) was the main destination for electric rotary converter exports from Finland, with a 59% share of total exports. Moreover, electric rotary converter exports to Russia exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was taken by China (X units), with an 18% share.

From 2012 to 2021, the average annual growth rate of volume to Russia stood at -4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+4.6% per year) and China (+5.2% per year).

In value terms, China ($X) emerged as the key foreign market for electric rotary converters exports from Finland, comprising 62% of total exports. The second position in the ranking was taken by the United States ($X), with a 24% share of total exports. It was followed by Russia, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +56.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+23.6% per year) and Russia (+0.5% per year).

Export Prices by Country

In 2021, the average electric rotary converter export price amounted to $X per unit, rising by 207% against the previous year. In general, the export price saw a measured increase. The growth pace was the most rapid in 2016 when the average export price increased by 266%. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while the average price for exports to Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+50.5%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Rotary Converter Imports

Imports into Finland

In 2021, supplies from abroad of electric rotary converters decreased by -43.9% to X units, falling for the third year in a row after two years of growth. In general, imports saw a abrupt contraction. The pace of growth was the most pronounced in 2017 when imports increased by 1,618%. Over the period under review, imports reached the peak figure at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, electric rotary converter imports declined markedly to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 1,627%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Taiwan (Chinese) (X units), Sweden (X units) and Germany (X units) were the main suppliers of electric rotary converter imports to Finland, with a combined 98% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +42.0%), while imports for the other leaders experienced a decline.

In value terms, Sweden ($X) constituted the largest supplier of electric rotary converters to Finland, comprising 82% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 13% share of total imports. It was followed by Germany, with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Sweden was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+80.7% per year) and Germany (-11.4% per year).

Import Prices by Country

The average electric rotary converter import price stood at $X per unit in 2021, growing by 47% against the previous year. In general, the import price showed resilient growth. The most prominent rate of growth was recorded in 2016 when the average import price increased by 293%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Sweden ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+38.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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