Non-liquid dielectric transformers market in Finland

Earlier Report Observations

The Finnish market for non-liquid dielectric transformers saw significant fluctuations between 2018 and 2021. After a sharp decline in 2019, market value rebounded strongly in 2020, reaching over 112 million US dollars. This volatility occurred during the preparation of reforms to the Electricity Market Act, aimed at developing smart grids and enabling active customer participation, which shaped the investment environment for electrical infrastructure.

From 2022, specific policy measures began to influence demand. The introduction of support for electrification in energy-intensive industries like forestry, metals, and chemicals targeted carbon leakage and competitiveness. Market value dipped in 2023, coinciding with a noted decline in electricity use within the forestry sector. A strong recovery followed in 2024, driven by a 20% expansion in wind power capacity—requiring transformers for grid connection—alongside a 3% rise in electricity consumption and the implementation of key electricity market reforms.

Production non-liquid dielectric transformers in Finland

In value, 2017-2020, K $ US

In 2019, Finland's output of non-liquid dielectric transformers reached its lowest value at 63 211 K $ US. This was followed by a significant recovery in 2020, with production valued at 79 007 K $ US, marking a 25.0% increase from the previous year. The peak value occurred earlier, in 2018, at 83 702 K $ US. The most substantial decline was observed in 2019, when output fell by 24.5%.

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

In kind, 2017-2020, K unit

In 2019, production of non-liquid dielectric transformers in Finland experienced a slight decline of 3.2%. However, this was followed by a notable rise in 2020, with output reaching 406.3 K units, up 10.4% from the previous year. The largest increase occurred in 2018, at 26.9%. Over the period from 2017 to 2020, production grew by 35.7%, equivalent to an annualized rate of 10.7%.

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

Exports non-liquid dielectric transformers from Finland

Exports in kind, K unit

The market showed an unstable trend throughout the period. Export volumes peaked in 2017 and then dropped to their lowest point in 2019, with a dramatic 55-fold difference between these years. In 2019, the minimum value was recorded at 36 K units, accompanied by the largest decline of 98.1%. By 2020, exports rebounded sharply to 1 560 K units, representing an extraordinary increase of 4,230.2% compared to 2019.

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

From 2017 to 2020, India, China, and Estonia consistently led as the top destinations for Finland's non-liquid dielectric transformer exports in kind. India accounted for 60.5% of exports, China for 11.6%, and Estonia for 10.6%. Together, these three countries made up 82.7% of 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

After two consecutive years of growth, Finland's exports of non-liquid dielectric transformers in value terms declined in 2020. That year, exports totaled 28 709 K $ US, down 11.7% from the previous year. The peak value was recorded in 2019 at 32 521 K $ US, which also saw the largest increase of 15.7%. Over the 2017-2020 period, exports overall increased by 7.9%, with a compound annual growth rate of 2.6%.

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

From 2017 to 2020, the geographical structure of Finland's exports in value terms was highly diversified. China, Norway, and Belgium were the top partners, accounting for 15.5%, 7.5%, and 7.0% of exports, respectively. However, together they represented only 30.0% of total flows, with the remaining 70.0% distributed among numerous smaller countries.

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

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

Imports non-liquid dielectric transformers to Finland

Imports in kind, K unit

The data reveals irregular changes, indicating a volatile market environment. Import volumes hit their maximum in 2018, then fell to the lowest point in 2019—a staggering 135-fold difference. In 2019, the minimum value was 51 K units, with the largest decline of 99.3%. By 2020, imports surged to 5 880 K units, equivalent to a sharp gain of 11,514.8% compared to 2019. The peak value was recorded in 2018 at 6 815 K units.

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

Between 2017 and 2020, China, the United States, and Estonia were the largest suppliers of non-liquid dielectric transformers to Finland in kind. China accounted for 35.3% of imports, the United States for 17.4%, and Estonia for 16.8%. Together, these three countries formed 69.5% of total imports 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 2020, Finland's imports of non-liquid dielectric transformers in value terms totaled 62 003 K $ US, indicating an intense advance of 48.2% versus the previous year. The largest decline was recorded in 2019 at 0.6%. Over the period from 2017 to 2020, imports increased by 83.3%, equating to an annualized rate of 22.4%.

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

From 2017 to 2020, Germany, Estonia, and Italy accounted for the largest share of Finland's imports in value terms. Germany represented 27.1% of imports, Estonia 13.6%, and Italy 9.4%. Together, these three countries comprised 50.1% of total import flows during this timeframe.

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

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