Finland: Hay-Making Machinery Market 2024

Hay-Making Machinery Market Size in Finland

The Finnish hay-making machinery market expanded to $X in 2021, with an increase of 3.1% against the previous year. Over the period under review, consumption showed a perceptible descent. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Hay-Making Machinery Production in Finland

In value terms, hay-making machinery production rose sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when the production volume increased by 48% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Hay-Making Machinery Exports

Exports from Finland

In 2021, overseas shipments of hay-making machinery increased by 16% to X units, rising for the fourth consecutive year after four years of decline. Over the period under review, total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +105.6% against 2017 indices. The pace of growth was the most pronounced in 2018 with an increase of 26% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, hay-making machinery exports skyrocketed to $X in 2021. Overall, total exports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +76.0% against 2016 indices. The pace of growth was the most pronounced in 2013 with an increase of 44%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

France (X units), Germany (X units) and Italy (X units) were the main destinations of hay-making machinery exports from Finland, together accounting for 56% of total exports. These countries were followed by Sweden, China, Hungary, the UK, the Netherlands, Lithuania, Norway, Austria, the Czech Republic and Australia, which together accounted for a further 35%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +91.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Italy ($X) constituted the largest markets for hay-making machinery exported from Finland worldwide, with a combined 55% share of total exports. These countries were followed by Hungary, China, Sweden, the UK, the Netherlands, Norway, the Czech Republic, Lithuania, Austria and Australia, which together accounted for a further 36%.

The Netherlands, with a CAGR of +144.0%, 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

In 2021, the average hay-making machinery export price amounted to $X per unit, surging by 4.7% against the previous year. In general, the export price, however, continues to indicate a mild contraction. The pace of growth was the most pronounced in 2017 an increase of 21% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, 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 the UK ($X per unit), while the average price for exports to Lithuania ($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 Norway (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Hay-Making Machinery Imports

Imports into Finland

Hay-making machinery imports into Finland shrank to X units in 2021, with a decrease of -2.1% on the previous year. Over the period under review, imports saw a slight shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 59%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, hay-making machinery imports amounted to $X in 2021. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 98% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Germany (X units), France (X units) and Austria (X units) were the main suppliers of hay-making machinery imports to Finland, with a combined 85% share of total imports. These countries were followed by India, Poland, Ireland, Denmark and the UK, which together accounted for a further 14%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +225.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hay-making machinery suppliers to Finland were France ($X), Germany ($X) and Austria ($X), together accounting for 89% of total imports. Poland, India, Denmark, Ireland and the UK lagged somewhat behind, together accounting for a further 10%.

India, with a CAGR of +446.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average hay-making machinery import price stood at $X per unit in 2021, increasing by 4.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2019 an increase of 24% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Denmark ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+88.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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