Finland: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Finland

In 2022, the Finnish cranks and crankshafts market increased by 11% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +39.6% against 2020 indices. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Cranks And Crankshafts Production in Finland

In value terms, cranks and crankshafts production surged to $X in 2022 estimated in export price. In general, production, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of 67% against the previous year. Over the period under review, production attained the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Cranks And Crankshafts Exports

Exports from Finland

Cranks and crankshafts exports from Finland reached X tons in 2022, remaining relatively unchanged against the previous year's figure. Over the period under review, exports, however, saw a mild downturn. The pace of growth was the most pronounced in 2014 when exports increased by 50% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, cranks and crankshafts exports stood at $X in 2022. Overall, exports, however, saw a slight shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 25%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X tons), Italy (X tons) and China (X tons) were the main destinations of cranks and crankshafts exports from Finland, together accounting for 61% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +26.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cranks and crankshafts exported from Finland were the Netherlands ($X), Italy ($X) and China ($X), with a combined 46% share of total exports.

Among the main countries of destination, China, with a CAGR of +22.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cranks and crankshafts export price stood at $X per ton in 2022, surging by 3% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 22%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into Finland

In 2022, purchases abroad of cranks and crankshafts increased by 25% to X tons, rising for the second year in a row after two years of decline. Overall, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.5% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 27%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, cranks and crankshafts imports rose markedly to $X in 2022. Over the period under review, total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 29% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of cranks and crankshafts to Finland, accounting for a 52% share of total imports. Moreover, cranks and crankshafts imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), fourfold. France (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+48.5% per year) and France (+84.1% per year).

In value terms, Germany ($X) constituted the largest supplier of cranks and crankshafts to Finland, comprising 56% of total imports. The second position in the ranking was held by France ($X), with a 16% share of total imports. It was followed by Italy, with a 6% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+63.5% per year) and Italy (+1.4% per year).

Import Prices by Country

In 2022, the average cranks and crankshafts import price amounted to $X per ton, falling by -11.4% against the previous year. In general, the import price showed a mild curtailment. The pace of growth was the most pronounced in 2017 when the average import price increased by 9.8%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+8.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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