Finland: Public Works Machinery Market 2024

Public Works Machinery Market Size in Finland

In 2021, the Finnish public works machinery market decreased by -27.9% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, enjoyed a significant expansion. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Public Works Machinery Production in Finland

In value terms, public works machinery production stood at $X in 2021 estimated in export price. Overall, production, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 144%. Over the period under review, production hit record highs in 2021 and is expected to retain growth in the near future.

Public Works Machinery Exports

Exports from Finland

After two years of decline, shipments abroad of machinery for public works and building increased by 49% to X units in 2021. Overall, exports, however, saw a pronounced reduction. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, public works machinery exports skyrocketed to $X in 2021. In general, exports saw a buoyant expansion. The growth pace was the most rapid in 2018 with an increase of 51%. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Australia (X units), Spain (X units) and India (X units) were the main destinations of public works machinery exports from Finland, together comprising 56% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +78.1%), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), India ($X) and the United States ($X) constituted the largest markets for public works machinery exported from Finland worldwide, with a combined 43% share of total exports. These countries were followed by China, Spain, South Africa, Russia, the UK, Sweden, the Czech Republic, Qatar and Greece, which together accounted for a further 19%.

In terms of the main countries of destination, Spain, with a CAGR of +76.6%, saw the highest rates of growth with regard to the value of exports, 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 public works machinery export price amounted to $X per unit, dropping by -9.6% against the previous year. In general, the export price, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2015 an increase of 55% against the previous year. The export price peaked at $X per unit in 2020, and then contracted in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Qatar ($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 United States (+40.7%), while the prices for the other major destinations experienced more modest paces of growth.

Public Works Machinery Imports

Imports into Finland

In 2021, public works machinery imports into Finland contracted to X units, declining by -10.9% compared with 2020 figures. In general, imports, however, continue to indicate a pronounced expansion. The growth pace was the most rapid in 2019 when imports increased by 405% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, public works machinery imports soared to $X in 2021. Over the period under review, imports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of 145% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Germany (X units), the Netherlands (X units) and Denmark (X units) were the main suppliers of public works machinery imports to Finland, with a combined 51% share of total imports. The United States, Italy, Spain, Belgium, Malaysia, Estonia, Norway and Russia lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +33.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of machinery for public works and building to Finland, comprising 42% of total imports. The second position in the ranking was taken by Estonia ($X), with a 14% share of total imports. It was followed by Italy, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+22.7% per year) and Italy (+32.6% per year).

Import Prices by Country

The average public works machinery import price stood at $X per unit in 2021, jumping by 40% against the previous year. Overall, the import price posted a moderate increase. The growth pace was the most rapid in 2020 when the average import price increased by 569% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Estonia (+21.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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