Finland: Market for Wiring sets used in vehicles, aircraft or ships 2023

Market Size for Wiring sets used in vehicles, aircraft or ships in Finland

In 2021, the Finnish market for wiring sets used in vehicles, aircraft or ships was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption continues to indicate a significant increase. Consumption of peaked in 2021 and is likely to see steady growth in the near future.

Production of Wiring sets used in vehicles, aircraft or ships in Finland

In value terms, production of wiring sets used in vehicles, aircraft or ships totaled $X in 2021 estimated in export price. Over the period under review, production, however, saw a noticeable expansion. The most prominent rate of growth was recorded in 2015 with an increase of 170% against the previous year. Production of peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Wiring sets used in vehicles, aircraft or ships

Exports from Finland

In 2021, overseas shipments of wiring sets used in vehicles, aircraft or ships increased by 22% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 56%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of wiring sets used in vehicles, aircraft or ships soared to $X in 2021. Over the period under review, exports, however, recorded a pronounced decline. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Lithuania (X tons) was the main destination for exports of wiring sets used in vehicles, aircraft or ships from Finland, accounting for a 92% share of total exports. It was followed by Estonia (X tons), with a 2.6% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Lithuania amounted to +135.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-37.6% per year) and Sweden (+16.9% per year).

In value terms, Lithuania ($X) remains the key foreign market for wiring sets used in vehicles, aircraft or ships exports from Finland, comprising 85% of total exports. The second position in the ranking was held by Sweden ($X), with a 2.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Lithuania amounted to +120.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+17.2% per year) and Estonia (-38.0% per year).

Export Prices by Country

The average export price for wiring sets used in vehicles, aircraft or ships stood at $X per ton in 2021, increasing by 11% against the previous year. Overall, export price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for wiring sets used in vehicles, aircraft or ships increased by +22.7% against 2018 indices. The growth pace was the most rapid in 2014 an increase of 42%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2021, the country with the highest price was Sweden ($X per ton), while the average price for exports to Estonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+0.2%), while the prices for the other major destinations experienced a decline.

Imports of Wiring sets used in vehicles, aircraft or ships

Imports into Finland

In 2021, supplies from abroad of wiring sets used in vehicles, aircraft or ships increased by 42% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports saw a buoyant expansion. The growth pace was the most rapid in 2018 with an increase of 57% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of wiring sets used in vehicles, aircraft or ships skyrocketed to $X in 2021. In general, imports continue to indicate a prominent increase. The growth pace was the most rapid in 2017 with an increase of 74% against the previous year. Over the period under review, imports of hit record highs in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, Germany (X tons) constituted the largest wiring sets used in vehicles, aircraft or ships supplier to Finland, with a 52% share of total imports. Moreover, imports of wiring sets used in vehicles, aircraft or ships from Germany exceeded the figures recorded by the second-largest supplier, Russia (X tons), threefold. The Czech Republic (X tons) ranked third in terms of total imports with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled +72.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-1.4% per year) and the Czech Republic (+81.9% per year).

In value terms, Germany ($X) constituted the largest supplier of wiring sets used in vehicles, aircraft or ships to Finland, comprising 43% of total imports. The second position in the ranking was taken by Russia ($X), with a 21% share of total imports. It was followed by Bulgaria, with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +53.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-0.0% per year) and Bulgaria (+208.7% per year).

Import Prices by Country

In 2021, the average import price for wiring sets used in vehicles, aircraft or ships amounted to $X per ton, which is down by -8.4% against the previous year. Over the period under review, the import price continues to indicate a slight contraction. The pace of growth appeared the most rapid in 2019 an increase of 39% against the previous year. The import price peaked at $X per ton 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 Bulgaria ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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