Finland: Suspension System Market 2025

Suspension System Market Size in Finland

In 2022, after two years of growth, there was significant decline in the Finnish suspension system market, when its value decreased by -17.1% to $X. Over the period under review, consumption, however, showed prominent growth. Suspension system consumption peaked at $X in 2021, and then shrank markedly in the following year.

Suspension System Production in Finland

In value terms, suspension system production rose slightly to $X in 2022 estimated in export price. In general, production continues to indicate a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of 50% against the previous year. Suspension system production peaked in 2022 and is expected to retain growth in the immediate term.

Suspension System Exports

Exports from Finland

In 2022, approx. X tons of suspension systems were exported from Finland; waning by -25.5% compared with 2021. Overall, exports recorded a perceptible slump. The growth pace was the most rapid in 2021 when exports increased by 36% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, suspension system exports contracted to $X in 2022. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 24%. As a result, the exports reached the peak of $X, and then contracted in the following year.

Exports by Country

Sweden (X tons), France (X tons) and Estonia (X tons) were the main destinations of suspension system exports from Finland, together comprising 49% of total exports. Norway, Russia, the UK, Poland, Lithuania, Latvia, Germany, Ireland and India lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +15.1%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), France ($X) and Norway ($X) appeared to be the largest markets for suspension system exported from Finland worldwide, together accounting for 52% of total exports.

Among the main countries of destination, France, with a CAGR of +8.5%, recorded 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 2022, the average suspension system export price amounted to $X per ton, with an increase of 20% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2017 an increase of 27%. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Suspension System Imports

Imports into Finland

After two years of growth, purchases abroad of suspension systems decreased by -24.3% to X tons in 2022. Overall, imports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2018 with an increase of 46%. Imports peaked at X tons in 2021, and then shrank rapidly in the following year.

In value terms, suspension system imports shrank significantly to $X in 2022. In general, imports, however, saw a prominent expansion. The growth pace was the most rapid in 2017 when imports increased by 60%. Imports peaked at $X in 2021, and then dropped markedly in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of suspension system to Finland, accounting for a 52% share of total imports. Moreover, suspension system imports from Germany exceeded the figures recorded by the second-largest supplier, Hungary (X tons), fivefold. France (X tons) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +25.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+177.6% per year) and France (+30.1% per year).

In value terms, Germany ($X) constituted the largest supplier of suspension systems to Finland, comprising 45% of total imports. The second position in the ranking was held by Hungary ($X), with a 7.9% share of total imports. It was followed by France, with a 5.2% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +18.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+161.3% per year) and France (+25.8% per year).

Import Prices by Country

In 2022, the average suspension system import price amounted to $X per ton, surging by 10% against the previous year. Over the period under review, the import price, however, recorded a mild curtailment. The pace of growth was the most pronounced in 2017 an increase of 15%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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