Finland: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Finland

In 2021, the Finnish machine-tool for working metal market increased by 2.1% to $X, rising for the second consecutive year after five years of decline. Overall, consumption recorded a abrupt slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Machine Tools For Working Metal in Finland

In value terms, machine-tool for working metal production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2018 with an increase of 25% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Machine Tools For Working Metal

Exports from Finland

In 2021, overseas shipments of machine tools for working metal increased by 8.4% to X units, rising for the second year in a row after four years of decline. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 101%. Over the period under review, the exports attained the maximum at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, machine-tool for working metal exports skyrocketed to $X in 2021. In general, exports, however, saw a slight downturn. The most prominent rate of growth was recorded in 2013 with an increase of 27% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Vietnam (X units), Canada (X units) and Spain (X units) were the main destinations of machine-tool for working metal exports from Finland, together comprising 35% of total exports. These countries were followed by Italy, Russia, Sweden, Mexico, Denmark, France, Switzerland, Chile, the UK and Belgium, which together accounted for a further 26%.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +59.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Italy ($X) and Canada ($X) constituted the largest markets for machine-tool for working metal exported from Finland worldwide, with a combined 23% share of total exports. These countries were followed by the UK, Mexico, Vietnam, France, Spain, Sweden, Denmark, Belgium, Switzerland and Chile, which together accounted for a further 27%.

Denmark, with a CAGR of +56.8%, saw the highest growth rate of 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 machine-tool for working metal export price amounted to $X per unit, growing by 15% against the previous year. Over the period under review, the export price, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 80%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per unit), while the average price for exports to Vietnam ($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 the UK (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tools For Working Metal

Imports into Finland

In 2021, purchases abroad of machine tools for working metal decreased by -13.6% to X units, falling for the second year in a row after three years of growth. In general, total imports indicated slight growth from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -37.0% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 60%. Imports peaked at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, machine-tool for working metal imports dropped modestly to $X in 2021. Over the period under review, imports showed a pronounced slump. The pace of growth appeared the most rapid in 2017 when imports increased by 67%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Spain (X units), China (X units) and Germany (X units) were the main suppliers of machine-tool for working metal imports to Finland, together comprising 51% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +39.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Sweden ($X) were the largest machine-tool for working metal suppliers to Finland, with a combined 51% share of total imports. France, Spain, the Netherlands, China and the United States lagged somewhat behind, together comprising a further 33%.

In terms of the main suppliers, Spain, with a CAGR of +43.8%, saw 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

In 2021, the average machine-tool for working metal import price amounted to $X per unit, rising by 11% against the previous year. Overall, the import price, however, continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2017 when the average import price increased by 52%. Over the period under review, average import prices reached the maximum at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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