Finland: Wood Milling Machine Market 2024

Wood Milling Machine Market Size in Finland

The Finnish wood milling machine market skyrocketed to $X in 2021, picking up by 78% against the previous year. In general, consumption saw a strong expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Wood Milling Machine Production in Finland

In value terms, wood milling machine production rose markedly to $X in 2021 estimated in export price. Overall, production continues to indicate buoyant growth. The growth pace was the most rapid in 2014 when the production volume increased by 511% against the previous year. Wood milling machine production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Wood Milling Machine Exports

Exports from Finland

In 2021, overseas shipments of planing, milling or moulding machines decreased by -53.8% to X units for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports faced a abrupt decrease. The pace of growth was the most pronounced in 2013 with an increase of 80% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, wood milling machine exports soared to $X in 2021. Overall, exports faced a abrupt descent. The growth pace was the most rapid in 2016 with an increase of 473% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Estonia (X units) was the main destination for wood milling machine exports from Finland, with a 93% share of total exports. It was followed by Russia (X units), with a 2.5% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Estonia totaled -11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-26.1% per year) and Sweden (-25.0% per year).

In value terms, Russia ($X) emerged as the key foreign market for planing, milling or moulding machines exports from Finland, comprising 47% of total exports. The second position in the ranking was taken by Estonia ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Russia totaled -16.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-14.0% per year) and Sweden (-14.8% per year).

Export Prices by Country

The average wood milling machine export price stood at $X per unit in 2021, growing by 306% against the previous year. Over the period under review, the export price, however, saw a perceptible setback. The most prominent rate of growth was recorded in 2014 an increase of 1,021% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Estonia ($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 Canada (+44.0%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Milling Machine Imports

Imports into Finland

In 2021, wood milling machine imports into Finland surged to X units, growing by 55% compared with the previous year's figure. In general, imports saw a pronounced expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, wood milling machine imports skyrocketed to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest wood milling machine supplier to Finland, with a 68% share of total imports. Moreover, wood milling machine imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), tenfold. Estonia (X units) ranked third in terms of total imports with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+17.9% per year) and Estonia (+11.0% per year).

In value terms, Italy ($X) constituted the largest supplier of planing, milling or moulding machines to Finland, comprising 54% of total imports. The second position in the ranking was taken by Germany ($X), with a 19% share of total imports. It was followed by China, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy stood at +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-9.8% per year) and China (-1.6% per year).

Import Prices by Country

The average wood milling machine import price stood at $X per unit in 2021, which is down by -12.2% against the previous year. In general, the import price continues to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2014 when the average import price increased by 63%. Over the period under review, average import prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2021, 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 Italy ($X per unit), while the price for Estonia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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