Finland: Crane Market 2024

Crane Market Size in Finland

The Finnish crane market declined to $X in 2022, falling by -5.3% against the previous year. In general, consumption, however, enjoyed a measured expansion. Crane consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Crane Production in Finland

In value terms, crane production declined modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a perceptible downturn. The pace of growth appeared the most rapid in 2016 with an increase of 16% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Crane Exports

Exports from Finland

In 2022, shipments abroad of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane increased by 0.7% to X units, rising for the second consecutive year after two years of decline. Overall, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 29%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, crane exports soared to $X in 2022. Over the period under review, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +9.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +49.8% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 28%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Sweden (X units), Austria (X units) and the Netherlands (X units) were the main destinations of crane exports from Finland, with a combined 34% share of total exports. The UK, the United States, Germany, France, Russia, Lithuania, Indonesia, Uruguay, the Czech Republic and Latvia lagged somewhat behind, together comprising a further 41%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +67.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Austria ($X) and the Netherlands ($X) constituted the largest markets for crane exported from Finland worldwide, together comprising 33% of total exports. The UK, Germany, the United States, France, Russia, the Czech Republic, Lithuania, Latvia, Indonesia and Uruguay lagged somewhat behind, together comprising a further 40%.

The Czech Republic, with a CAGR of +51.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average crane export price stood at $X per unit in 2022, jumping by 25% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were the Czech Republic ($X per unit) and Germany ($X per unit), while the average price for exports to Uruguay ($X per unit) and Indonesia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.

Crane Imports

Imports into Finland

In 2022, overseas purchases of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane increased by 15% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 96%. Over the period under review, imports attained the peak figure at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, crane imports rose significantly to $X in 2022. Overall, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2015 when imports increased by 38% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

Germany (X units), Austria (X units) and Italy (X units) were the main suppliers of crane imports to Finland, with a combined 46% share of total imports. Sweden, Ukraine, Spain, France, Estonia, China, Turkey, the UK, Poland and Denmark lagged somewhat behind, together comprising a further 43%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +26.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest crane suppliers to Finland were Germany ($X), Austria ($X) and Sweden ($X), together accounting for 49% of total imports. Italy, Poland, Ukraine, Estonia, China, Turkey, the UK, Spain, Denmark and France lagged somewhat behind, together comprising a further 41%.

Among the main suppliers, Turkey, with a CAGR of +141.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average crane import price amounted to $X per unit, declining by -2.6% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 26% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices failed to regain momentum.

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 Poland ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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