Finland: Milling Industry Machinery Market 2024

Milling Industry Machinery Market Size in Finland

In 2022, the Finnish milling industry machinery market increased by X% to $X, rising for the fourth year in a row after three years of decline. Overall, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2018 indices. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Milling Industry Machinery Production in Finland

In value terms, milling industry machinery production dropped to $X in 2022 estimated in export price. Overall, the total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The growth pace was the most rapid in 2015 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Milling Industry Machinery Exports

Exports from Finland

In 2022, overseas shipments of milling industry machinery decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, milling industry machinery exports shrank notably to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by X%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Belgium (X units) was the main destination for milling industry machinery exports from Finland, with a X% share of total exports. Moreover, milling industry machinery exports to Belgium exceeded the volume sent to the second major destination, Latvia (X units), ninefold. The third position in this ranking was held by Norway (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Belgium amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (X% per year) and Norway (X% per year).

In value terms, Belgium ($X) emerged as the key foreign market for milling industry machinery exports from Finland, comprising X% of total exports. The second position in the ranking was held by Russia ($X), with a X% share of total exports. It was followed by Latvia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Belgium stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Latvia (X% per year).

Export Prices by Country

The average milling industry machinery export price stood at $X per unit in 2022, picking up by X% against the previous year. In general, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat 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 Belgium ($X per unit), while the average price for exports to Sweden ($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 Russia (X%), while the prices for the other major destinations experienced a decline.

Milling Industry Machinery Imports

Imports into Finland

Milling industry machinery imports into Finland skyrocketed to X units in 2022, with an increase of X% against the previous year. Overall, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, milling industry machinery imports skyrocketed to $X in 2022. In general, imports posted a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Sweden (X units) constituted the largest milling industry machinery supplier to Finland, with a X% share of total imports. Moreover, milling industry machinery imports from Sweden exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The UK (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and the UK (X% per year).

In value terms, Sweden ($X), Germany ($X) and the UK ($X) were the largest milling industry machinery suppliers to Finland, with a combined X% share of total imports.

Among the main suppliers, Sweden, with a CAGR of X%, recorded the highest growth rate of 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 2022, the average milling industry machinery import price amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for Hungary ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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