Automatic thermostats market in Finland

Earlier Report Observations

The Finnish automatic thermostat market experienced significant growth in 2021, with its value rising by 25% to reach 17.6 million USD. This surge was primarily driven by the enforcement of Regulation 718/2020, which made self-regulating devices mandatory in new and renovated buildings, and the ongoing implementation of the Energy Performance of Buildings Directive (EPBD), requiring automation systems in large buildings from 2021 onward.

After the peak in 2021, the market value gradually declined to 14.5 million USD by 2024. During this period, the market saw continuous product innovation, including the launch of smart thermostats with Wi-Fi control, mobile apps, and features for optimizing heating based on electricity prices. Consumer interest in energy efficiency and remote controllability supported demand, while fluctuations in energy prices directly influenced thermostat usage patterns.

Production automatic thermostats in Finland

In value, 2017-2020, K $ US

In 2020, the output of automatic thermostats in Finland was valued at 1 177 K $ US, marking a 30.0% decline from the previous year. Over the period from 2017 to 2020, production increased by 23.2%, with a compound annual growth rate of 7.2%. The minimum value was recorded in 2019 at 813 K $ US, which also saw the largest decline of 30.0%.

Annual dynamics of production in Finland in value, 2017-2020, K $ US

In kind, 2017-2020, unit

In 2020, Finland produced 12 904 units of automatic thermostats, remaining relatively stable compared to 2019. Over the period from 2017 to 2020, production decreased by 74.6%, with a compound annual growth rate of -36.7%.

Annual dynamics of production in Finland in kind, 2017-2020, unit

Exports automatic thermostats from Finland

Exports in kind, K unit

The market showed an unstable trend throughout the timeframe. Exports reached their maximum in 2018 at 176 K units and fell to their lowest point in 2019 at 20 K units, with an 8.9-fold difference between these years. In 2020, deliveries of automatic thermostats from Finland stood at 174 K units, marking a sharp rise of 776.5% compared to 2019. The largest decline was recorded in 2019 at 88.8%.

Annual dynamics of product's exports from Finland in kind, 2017-2020, K unit

From 2017 to 2020, Russia, China, and Estonia formed the main cluster of markets for exports in kind, accounting for 35.0%, 22.8%, and 19.4% of exports, respectively. Together, they represented 77.2% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Finland in kind, 2017-2020

Exports in value, K $ US

In 2020, cross-border shipments of automatic thermostats from Finland amounted to 3 715 K $ US, reflecting a moderate decline of 7.8% compared to the previous year. Between 2017 and 2020, exports decreased by 13.7%, equating to an annualized rate of -4.8%. The largest decline was recorded in 2018 at 12.0%, while the largest increase occurred in 2019 at 6.3%.

Annual dynamics of product's exports from Finland in value, 2017-2020, K $ US

From 2017 to 2020, the portfolio of buyers for automatic thermostats from Finland was broad. Russia, Estonia, and China contributed 16.3%, 15.1%, and 10.9% of exports in value terms, respectively, together accounting for only 42.3% of total exports. Many other countries held smaller but non-negligible shares.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Finland in value, 2017-2020

Imports automatic thermostats to Finland

Imports in kind, K unit

The market exhibited an unstable trend throughout the timeframe. Imports peaked in 2017 and reached their lowest point in 2019 at 56 K units, with a 23-fold difference between these years. In 2020, Finland's volume of automatic thermostats imports stood at 940 K units, showing a steep increase of 1 587.0% year-over-year. The largest decline was recorded in 2019 at 95.6%.

Annual dynamics of product's imports to Finland in kind, 2017-2020, K unit

Over the period from 2017 to 2020, Denmark, Germany, and Sweden were the primary suppliers of automatic thermostats to Finland, accounting for 19.4%, 18.6%, and 14.9% of imports in kind, respectively. Together, they represented 52.8% of total imports.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, K $ US

After a two-year increase, foreign supplies of automatic thermostats to Finland declined. In 2020, imports stood at 16 612 K $ US, reflecting a substantial contraction of 11.6% compared to the previous year. The maximum value was recorded in 2019 at 18 787 K $ US, while the largest increase occurred in 2018 at 8.7%.

Annual dynamics of product's imports to Finland in value, 2017-2020, K $ US

From 2017 to 2020, imports in value terms of automatic thermostats to Finland were widely dispersed across partner countries. Denmark, Germany, and Estonia accounted for 18.6%, 15.7%, and 10.1% of imports in value terms, respectively, together representing only 44.5% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020