Finland: Machinery Electrical Parts Market 2025

Machinery Electrical Parts Market Size in Finland

In 2022, the Finnish machinery electrical parts market decreased by -2% to $X, falling for the third year in a row after two years of growth. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Machinery Electrical Parts Production in Finland

In value terms, machinery electrical parts production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by 58% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Machinery Electrical Parts Exports

Exports from Finland

In 2022, overseas shipments of electrical parts of machinery or apparatus decreased by -16.5% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2020 with an increase of 125%. The exports peaked at X tons in 2021, and then shrank notably in the following year.

In value terms, machinery electrical parts exports shrank markedly to $X in 2022. Over the period under review, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2020 when exports increased by 236%. Over the period under review, the exports hit record highs at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

The Netherlands (X tons), Sweden (X tons) and Estonia (X tons) were the main destinations of machinery electrical parts exports from Finland, with a combined 60% share of total exports. Germany, China, Latvia, the UK and Russia lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Latvia (with a CAGR of +132.4%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) remains the key foreign market for electrical parts of machinery or apparatus exports from Finland, comprising 42% of total exports. The second position in the ranking was held by Latvia ($X), with an 11% share of total exports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden totaled +87.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+118.2% per year) and Germany (+87.1% per year).

Export Prices by Country

The average machinery electrical parts export price stood at $X per ton in 2022, approximately reflecting the previous year. Over the period under review, the export price, however, faced a abrupt downturn. The pace of growth was the most pronounced in 2020 when the average export price increased by 49%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to the UK ($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 Sweden (+4.9%), while the prices for the other major destinations experienced a decline.

Machinery Electrical Parts Imports

Imports into Finland

After five years of growth, supplies from abroad of electrical parts of machinery or apparatus decreased by -17.9% to X tons in 2022. In general, imports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2017 when imports increased by 70% against the previous year. Imports peaked at X tons in 2021, and then declined sharply in the following year.

In value terms, machinery electrical parts imports declined to $X in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 43%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of machinery electrical parts to Finland, with a 48% share of total imports. Moreover, machinery electrical parts imports from China exceeded the figures recorded by the second-largest supplier, Estonia (X tons), fourfold. Belgium (X tons) ranked third in terms of total imports with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +18.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+63.9% per year) and Belgium (+31.5% per year).

In value terms, the largest machinery electrical parts suppliers to Finland were Germany ($X), China ($X) and Taiwan (Chinese) ($X), with a combined 62% share of total imports. Japan, the United States, Belgium, the Netherlands, Estonia, the Philippines, France and Hungary lagged somewhat behind, together accounting for a further 24%.

Among the main suppliers, Estonia, with a CAGR of +42.2%, saw the highest growth rate of 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

The average machinery electrical parts import price stood at $X per ton in 2022, with an increase of 3.7% against the previous year. In general, the import price, however, saw a deep contraction. The most prominent rate of growth was recorded in 2016 an increase of 32% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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