Finland: Wood Bending Machine Market 2024

Wood Bending Machine Market Size in Finland

In 2021, after five years of growth, there was decline in the Finnish wood bending machine market, when its value decreased by -4.6% to $X. Over the period under review, consumption recorded moderate growth. Over the period under review, the market reached the maximum level at $X in 2020, and then shrank in the following year.

Wood Bending Machine Production in Finland

In value terms, wood bending machine production expanded remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, showed a pronounced downturn. The most prominent rate of growth was recorded in 2015 when the production volume increased by 137% against the previous year. Wood bending machine production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Wood Bending Machine Exports

Exports from Finland

After three years of decline, shipments abroad of bending or assembling machines increased by 994% to X units in 2021. Overall, exports saw significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, wood bending machine exports surged to $X in 2021. In general, exports saw a significant expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 1,929%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Estonia (X units), Russia (X units) and Italy (X units) were the main destinations of wood bending machine exports from Finland, with a combined 98% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +29.2%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Russia ($X) remains the key foreign market for bending or assembling machines exports from Finland, comprising 95% of total exports. The second position in the ranking was held by Estonia ($X), with a 3.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Russia totaled +77.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+47.6% per year) and Italy (-69.3% per year).

Export Prices by Country

The average wood bending machine export price stood at $X per unit in 2021, declining by -87.8% against the previous year. Overall, the export price, however, saw a significant increase. The growth pace was the most rapid in 2015 an increase of 2,572%. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Estonia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+36.8%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Bending Machine Imports

Imports into Finland

In 2021, supplies from abroad of bending or assembling machines increased by 50% to X units, rising for the fifth consecutive year after two years of decline. Overall, imports showed a significant expansion. The growth pace was the most rapid in 2013 when imports increased by 374%. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the near future.

In value terms, wood bending machine imports reduced notably to $X in 2021. In general, imports continue to indicate a prominent increase. The growth pace was the most rapid in 2013 with an increase of 1,950%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Russia (X units) constituted the largest wood bending machine supplier to Finland, with a 41% share of total imports. Moreover, wood bending machine imports from Russia exceeded the figures recorded by the second-largest supplier, the UK (X units), threefold. The third position in this ranking was held by Austria (X units), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia totaled +78.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-0.7% per year) and Austria (+23.5% per year).

In value terms, Germany ($X) constituted the largest supplier of bending or assembling machines to Finland, comprising 74% of total imports. The second position in the ranking was taken by Austria ($X), with a 9.7% share of total imports. It was followed by Estonia, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +133.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-10.9% per year) and Estonia (+48.4% per year).

Import Prices by Country

The average wood bending machine import price stood at $X per unit in 2021, falling by -91% against the previous year. Overall, the import price recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2013 when the average import price increased by 333% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Russia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+5.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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