The Electric Domestic Appliances market in Finland showed moderate growth from 2012 to 2022, with significant fluctuations. The market size value grew from 657.5 million euros in 2012 to 900.69 million euros in 2022. The most notable increases occurred between 2016 and 2019, marked by strong year-on-year growth rates and a comparatively high CAGR. The rate of growth tapered off towards the end of the period, with a slight decline in 2022.
Key Variations:
- 2012-2016 saw modest growth with fluctuations, underlined by a recovery phase in 2016 with a 7.31% increase.
- 2017-2019 marked a period of consistent and accelerated growth, highlighted by 5.98% to 9.37% year-on-year increases and an impressive CAGR of around 5.64% in 2019.
- The years 2020-2021 experienced steady but more moderated growth with year-on-year increases under 3%.
- 2022 marked a slight decline in market value by -0.23%, reflecting market saturation or external factors.
The Compound Annual Growth Rate (CAGR) over the last five years stood at 3.75%, indicating a decent average yearly expansion despite minor hiccups.
Future trends to watch for include the impact of advanced technologies (AI and IoT integration in appliances), market saturation effects, consumer preferences shifting toward energy-efficient appliances, and emerging competition from international players. The 2023 market size value will offer more concrete insights into these anticipated trends. Forecasted data for 2024 should reflect upon these trends and economic conditions, potentially adjusting market expectations.
How does Finland rank in Electric Domestic Appliances Market Size Value?
| # | 16 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 France | 9,354,100,000 | 2023 | +1.7% | +3.37% | View data |
| 2 | 2 United Kingdom | 8,179,000,000 | 2023 | +1.41% | +1.46% | View data |
| 3 | 3 Italy | 5,483,100,000 | 2023 | +1.29% | +4.37% | View data |
| 4 | 4 Germany | 5,444,000,000 | 2023 | +1.42% | +4.91% | View data |
| 5 | 5 Spain | 3,760,200,000 | 2023 | +4.38% | +5.45% | View data |
| 10 | 10 Austria | 1,050,100,000 | 2023 | +2.3% | +3.39% | View data |
| 11 | 11 Portugal | 1,001,100,000 | 2023 | +1.19% | +2.62% | View data |
| 12 | 12 Finland | 921,000,000 | 2023 | +1.57% | +3.25% | |
| 13 | 13 Greece | 629,970,000 | 2023 | +2.96% | +2.63% | View data |
| 14 | 14 Ireland | 490,150,000 | 2023 | +1.24% | +0.27% | View data |
