Finland: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Finland

The Finnish grinding and sharpening machine market dropped to $X in 2022, with a decrease of -11.3% against the previous year. In general, consumption recorded a pronounced decline. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Grinding And Sharpening Metal Finishing Machines in Finland

In value terms, grinding and sharpening machine production dropped to $X in 2022 estimated in export price. Overall, production saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 6.2%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Finland

In 2022, the amount of grinding and sharpening metal finishing machines exported from Finland rose notably to X units, picking up by 5.5% on the year before. Overall, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 97% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, grinding and sharpening machine exports reduced notably to $X in 2022. Over the period under review, exports, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2014 with an increase of 157%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Estonia (X units), Kazakhstan (X units) and Germany (X units) were the main destinations of grinding and sharpening machine exports from Finland, together accounting for 80% 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 Kazakhstan (with a CAGR of +241.6%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for grinding and sharpening metal finishing machines exports from Finland, comprising 31% of total exports. The second position in the ranking was taken by Sweden ($X), with a 14% share of total exports. It was followed by the UK, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at -12.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+88.0% per year) and the UK (+248.4% per year).

Export Prices by Country

The average grinding and sharpening machine export price stood at $X per unit in 2022, waning by -48% against the previous year. In general, the export price recorded a deep reduction. The pace of growth appeared the most rapid in 2014 an increase of 233%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Estonia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+49.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Finland

Grinding and sharpening machine imports into Finland reduced to X units in 2022, waning by -11.7% compared with the previous year. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 43%. Over the period under review, imports attained the maximum at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, grinding and sharpening machine imports fell to $X in 2022. Overall, imports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 70%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest grinding and sharpening machine supplier to Finland, accounting for a 84% share of total imports. Moreover, grinding and sharpening machine imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. The third position in this ranking was held by the United States (X units), with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-22.1% per year) and the United States (+17.5% per year).

In value terms, the largest grinding and sharpening machine suppliers to Finland were China ($X), Germany ($X) and Sweden ($X), together comprising 46% of total imports. The United States and Italy lagged somewhat behind, together comprising a further 12%.

Among the main suppliers, the United States, with a CAGR of +14.6%, recorded 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

The average grinding and sharpening machine import price stood at $X per unit in 2022, surging by 3.5% against the previous year. In general, the import price, however, recorded a deep reduction. The pace of growth was the most pronounced in 2016 when the average import price increased by 57%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+12.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :