Finland: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Finland

The Finnish gearboxes and speed changers market rose modestly to $X in 2022, with an increase of X% against the previous year. In general, consumption, however, enjoyed prominent growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Production of Gearboxes and Speed Changers in Finland

In value terms, gearboxes and speed changers production shrank sharply to $X in 2022 estimated in export price. Overall, production faced a abrupt descent. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X, and then shrank remarkably in the following year.

Exports of Gearboxes and Speed Changers

Exports from Finland

In 2022, overseas shipments of gearboxes and speed changers decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, exports saw a abrupt decrease. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, gearboxes and speed changers exports reduced sharply to $X in 2022. Overall, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2014 when exports increased by X%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X tons), the United States (X tons) and China (X tons) were the main destinations of gearboxes and speed changers exports from Finland, with a combined X% share of total exports. Sweden, Japan, Denmark, Poland, the Netherlands, Canada, the UK, Brazil, Russia and France lagged somewhat behind, together comprising a further X%.

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

In value terms, the United States ($X), Germany ($X) and China ($X) were the largest markets for gearboxes and speed changers exported from Finland worldwide, with a combined X% share of total exports. Sweden, Japan, Poland, Russia, the Netherlands, Canada, the UK, Brazil, Denmark and France lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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 gearboxes and speed changers export price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, 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 Poland ($X per ton), while the average price for exports to Denmark ($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 Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gearboxes and Speed Changers

Imports into Finland

In 2022, overseas purchases of gearboxes and speed changers decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, imports, however, saw a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then declined significantly in the following year.

In value terms, gearboxes and speed changers imports declined markedly to $X in 2022. In general, imports, however, showed buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then fell remarkably in the following year.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of gearboxes and speed changers to Finland, with a X% share of total imports. Moreover, gearboxes and speed changers imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was held by Italy (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Italy (X% per year).

In value terms, the largest gearboxes and speed changers suppliers to Finland were Belgium ($X), Germany ($X) and Italy ($X), with a combined X% share of total imports. China, the Czech Republic and Denmark lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, China, with a CAGR of X%, recorded 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

In 2022, the average gearboxes and speed changers import price amounted to $X per ton, rising by X% against the previous year. Overall, the import price, however, showed a slight downturn. The import price peaked at $X per ton in 2012; however, from 2013 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 Germany ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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