Finland: Harvesting Machinery Market 2024

Harvesting Machinery Market Size in Finland

For the third year in a row, the Finnish harvesting machinery market recorded decline in sales value, which decreased by -2.1% to $X in 2021. Overall, the total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -36.4% against 2018 indices. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Harvesting Machinery Production in Finland

In value terms, harvesting machinery production rose slightly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a deep reduction. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Harvesting Machinery Exports

Exports from Finland

In 2021, the amount of root or tuber harvesting machines exported from Finland skyrocketed to X units, picking up by 33% on 2020. Over the period under review, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 300%. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, harvesting machinery exports soared to $X in 2021. In general, exports showed a significant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 485%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Poland (X units) and Denmark (X units) were the main destinations of harvesting machinery exports from Finland.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of 0.0%).

In value terms, Denmark ($X) emerged as the key foreign market for root or tuber harvesting machines exports from Finland, comprising 75% of total exports. The second position in the ranking was taken by Russia ($X), with a 13% share of total exports. It was followed by Poland, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Denmark was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+9.7% per year) and Poland (+48.2% per year).

Export Prices by Country

In 2021, the average harvesting machinery export price amounted to $X per unit, jumping by 109% against the previous year. In general, the export price posted a buoyant increase. The pace of growth appeared the most rapid in 2019 an increase of 413% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Denmark ($X per unit), while the average price for exports to Tanzania ($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 Poland (+53.6%), while the prices for the other major destinations experienced more modest paces of growth.

Harvesting Machinery Imports

Imports into Finland

In 2021, after three years of growth, there was significant decline in purchases abroad of root or tuber harvesting machines, when their volume decreased by -56.1% to X units. In general, imports, however, posted resilient growth. The pace of growth was the most pronounced in 2013 when imports increased by 100%. Imports peaked at X units in 2020, and then reduced rapidly in the following year.

In value terms, harvesting machinery imports fell notably to $X in 2021. Over the period under review, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 88% against the previous year. Over the period under review, imports attained the maximum at $X in 2020, and then contracted significantly in the following year.

Imports by Country

Denmark (X units), Belgium (X units) and Sweden (X units) were the main suppliers of harvesting machinery imports to Finland, together accounting for 89% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +20.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X) constituted the largest supplier of root or tuber harvesting machines to Finland, comprising 62% of total imports. The second position in the ranking was held by Belgium ($X), with a 29% share of total imports. It was followed by Sweden, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Denmark amounted to +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+5.4% per year) and Sweden (+20.5% per year).

Import Prices by Country

In 2021, the average harvesting machinery import price amounted to $X per unit, rising by 7.4% against the previous year. In general, import price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, harvesting machinery import price decreased by -21.0% against 2018 indices. The pace of growth was the most pronounced in 2014 when the average import price increased by 100%. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average 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 Denmark ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+24.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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