Household refrigerators market in Finland

Earlier Report Observations

The market for household refrigerators in Finland, measured in value, grew from $30.7 million in 2018 to a high of $39.2 million in 2021. This upward trend reversed in the following years, with the market contracting to $29.3 million in 2023 and then to $27.1 million in 2024.

The period after 2021 was marked by a significant market adjustment. By 2024, competing on the price of appliances had become difficult for retailers, with market growth increasingly linked to service offerings rather than unit sales alone. This shift toward a service-oriented model coincided with rising consumer environmental awareness and a focus on product repairability, factors that began to influence purchasing decisions and potentially extended replacement cycles.

In physical volume, the market declined from 139.7 thousand units in 2021 to 93.7 thousand in 2023, before a modest recovery to 97.7 thousand units in 2024. This increase in unit sales alongside a falling total market value points to intensified price competition and a change in the sales mix during the latter years.

Production household refrigerators in Finland

In value, 2017-2020, K $ US

In 2019, Finland's household refrigerator production reached its lowest point at 1,360 thousand US dollars. However, by 2020, output had rebounded significantly to 1,768 thousand US dollars, marking a 30.0% year-over-year increase. Over the period from 2017 to 2020, production grew by 24%, which translates to an annualized growth rate of 7.4%. The most notable decline occurred in 2019, when production fell by 9.6%.

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

Exports household refrigerators from Finland

Exports in kind, K unit

In 2019, Finland's household refrigerator exports experienced their largest decline of 20.0%. The following year, in 2020, export volume recovered to 4.4 thousand units, showing a solid 18.3% increase compared to the previous year. Over the 2017-2020 period, exports rose by 20%, with a compound annual growth rate of 6.3%. The peak was recorded in 2018 at 4.6 thousand units, which also saw the largest increase of 26.8%.

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

From 2017 to 2020, Sweden, Denmark, and Guinea were the primary destinations for Finland's household refrigerator exports in volume terms. Sweden accounted for 31.9% of exports, Denmark for 13.1%, and Guinea for 11.2%. Together, these three countries represented 56.2% of Finland's total export flows during this period.

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

Finland's household refrigerator exports in value terms declined for the second consecutive year in 2020, totaling 1,809 thousand US dollars, down 1.9% from the previous year. Over the 2017-2020 period, exports decreased by 3.3%, with a compound annual decline rate of 1.1%. The highest value was recorded in 2018 at 2,144 thousand US dollars, which also saw the largest increase of 14.6%. The most significant drop occurred in 2019, with a decline of 14.0%.

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

Throughout 2017-2020, Sweden, South Korea, and Norway were the three largest markets for Finland's household refrigerator exports in value terms. Collectively, they accounted for 59.1% of total export flows during this period.

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

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

Imports household refrigerators to Finland

Imports in kind, K unit

In 2019, Finland's household refrigerator imports hit their lowest point at 27.6 thousand units, with the largest decline of 76.8% recorded that year. The market then surged in 2020, reaching a peak of 122.8 thousand units, a 344.7% increase compared to 2019. This volatility resulted in a 4.4-fold difference between the trough in 2019 and the peak in 2020.

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

From 2017 to 2020, China, Hungary, and Turkey were the main sources of household refrigerator imports to Finland in volume terms. China contributed 33.5% of imports, Hungary 25.5%, and Turkey 9.3%. Together, these three countries made up 68.4% of Finland's total import flows during this period.

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

In 2019, Finland's household refrigerator imports in value terms saw their largest decline of 4.4%. By 2020, imports had risen to 31,874 thousand US dollars, showing a moderate 6.3% increase compared to the previous year. Over the 2017-2020 period, imports grew by 13.9%, with a compound annual growth rate of 4.4%. The most significant increase occurred in 2018, with a rise of 12.1%.

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

From 2017 to 2020, Hungary, China, and Germany were the leading suppliers of household refrigerators to Finland in value terms. Hungary accounted for 23.6% of imports, China for 18.1%, and Germany for 12.0%. Their combined share reached 53.7% of Finland's total import flows during this period.

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

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