Finland: Market for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Finland

The Finnish market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) soared to $X in 2021, increasing by 80% against the previous year. Over the period under review, consumption saw resilient growth. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Finland

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) rose notably to $X in 2021 estimated in export price. Overall, production showed a noticeable slump. The most prominent rate of growth was recorded in 2014 with an increase of 119% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production of growth failed to regain momentum.

Exports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Exports from Finland

Exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Finland shrank rapidly to X tons in 2021, dropping by -35.3% on the previous year's figure. Overall, exports continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2020 when exports increased by 2,421%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) contracted rapidly to $X in 2021. Over the period under review, exports, however, continue to indicate a modest expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 1,990% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Argentina (X tons) was the main destination for exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Finland, with a 87% share of total exports. Moreover, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Argentina exceeded the volume sent to the second major destination, Sweden (X tons), more than tenfold. Estonia (X tons) ranked third in terms of total exports with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Argentina was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+32.0% per year) and Estonia (-36.7% per year).

In value terms, Argentina ($X) emerged as the key foreign market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) exports from Finland, comprising 63% of total exports. The second position in the ranking was held by Sweden ($X), with a 19% share of total exports. It was followed by Estonia, with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Argentina was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+49.8% per year) and Estonia (-31.7% per year).

Export Prices by Country

The average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, reducing by -16.6% against the previous year. Overall, export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) decreased by -30.8% against 2019 indices. The pace of growth was the most pronounced in 2017 an increase of 77% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 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 Sweden ($X per ton), while the average price for exports to Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Imports into Finland

In 2021, overseas purchases of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) increased by 42% to X tons, rising for the fourth consecutive year after five years of decline. Overall, total imports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +149.5% against 2017 indices. The pace of growth appeared the most rapid in 2019 with an increase of 46% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) surged to $X in 2021. Over the period under review, imports continue to indicate a noticeable increase. The most prominent rate of growth was recorded in 2019 with an increase of 60%. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

The Netherlands (X tons), Japan (X tons) and Germany (X tons) were the main suppliers of imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Finland, with a combined 71% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +68.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Japan ($X) and Germany ($X) appeared to be the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) suppliers to Finland, together accounting for 72% of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +86.6%, 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 import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, picking up by 5.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2017 an increase of 15% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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 Belgium ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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