Finland: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in Finland

The Finnish market for forage harvesters and other harvesting machines declined to $X in 2021, with a decrease of -7.9% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Consumption of peaked at $X in 2020, and then shrank in the following year.

Production of Forage Harvesters and Other Harvesting Machines in Finland

In value terms, production of forage harvesters and other harvesting machines reduced slightly to $X in 2021 estimated in export price. Over the period under review, production saw a noticeable contraction. The pace of growth appeared the most rapid in 2013 when the production volume increased by 223%. As a result, production attained the peak level of $X. From 2014 to 2021, production of growth failed to regain momentum.

Exports of Forage Harvesters and Other Harvesting Machines

Exports from Finland

After two years of decline, shipments abroad of forage harvesters and other harvesting machines decreased by -20% to X units in 2021. Overall, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 233%. As a result, the exports reached the peak of X units. From 2019 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of forage harvesters and other harvesting machines reduced remarkably to $X in 2021. In general, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 318%. The exports peaked at $X in 2020, and then fell notably in the following year.

Exports by Country

Norway (X units), Russia (X units) and Ukraine (X units) were the main destinations of exports of forage harvesters and other harvesting machines from Finland. Moreover, exports of forage harvesters and other harvesting machines in Norway exceeded the figures recorded by the second-largest exporter, Russia, twofold.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +8.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Norway ($X) emerged as the key foreign market for forage harvesters and other harvesting machines exports from Finland, comprising 58% of total exports. The second position in the ranking was held by Russia ($X), with a 13% share of total exports. It was followed by Ukraine, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Norway totaled +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+3.4% per year) and Ukraine (-21.7% per year).

Export Prices by Country

The average export price for forage harvesters and other harvesting machines stood at $X per unit in 2021, waning by -57.8% against the previous year. Over the period under review, the export price, however, continues to indicate modest growth. The growth pace was the most rapid in 2020 an increase of 139% against the previous year. As a result, the export price reached the peak level of $X per unit, and then plummeted in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Norway ($X per unit), while the average price for exports to Russia ($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 (+4.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Forage Harvesters and Other Harvesting Machines

Imports into Finland

In 2021, the amount of forage harvesters and other harvesting machines imported into Finland declined markedly to X units, which is down by -25.5% on the previous year. Over the period under review, imports showed a pronounced decline. The pace of growth appeared the most rapid in 2014 with an increase of 111%. Over the period under review, imports of reached the maximum at X units in 2020, and then contracted rapidly in the following year.

In value terms, imports of forage harvesters and other harvesting machines dropped modestly to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 92% against the previous year. Imports peaked at $X in 2020, and then shrank in the following year.

Imports by Country

Germany (X units), Denmark (X units) and Italy (X units) were the main suppliers of imports of forage harvesters and other harvesting machines to Finland, together accounting for 84% of total imports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +42.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of forage harvesters and other harvesting machines to Finland, comprising 67% of total imports. The second position in the ranking was taken by Denmark ($X), with a 14% share of total imports. It was followed by Poland, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (-6.8% per year) and Poland (-3.7% per year).

Import Prices by Country

The average import price for forage harvesters and other harvesting machines stood at $X per unit in 2021, growing by 31% against the previous year. In general, import price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for forage harvesters and other harvesting machines increased by +95.0% against 2017 indices. The pace of growth appeared the most rapid in 2018 an increase of 41% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for the UK ($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 (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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