Finland: Wood Drilling Machine Market 2022

Wood Drilling Machine Market Size in Finland

In 2021, the Finnish wood drilling machine market decreased by -10.3% to $X, falling for the second consecutive year after two years of growth. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Wood Drilling Machine Production in Finland

In value terms, wood drilling machine production soared to $X in 2021 estimated in export price. In general, production, however, saw a deep slump. Wood drilling machine production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Wood Drilling Machine Exports

Exports from Finland

In 2021, after three years of growth, there was significant decline in overseas shipments of drilling or morticing machines, when their volume decreased by -81.6% to X units. Over the period under review, exports recorded a sharp decrease. The pace of growth appeared the most rapid in 2018 when exports increased by 1,311% against the previous year. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, wood drilling machine exports fell remarkably to $X in 2021. In general, exports continue to indicate a sharp setback. The most prominent rate of growth was recorded in 2018 when exports increased by 251% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Norway (X units) was the main destination for wood drilling machine exports from Finland, accounting for a 69% share of total exports. Moreover, wood drilling machine exports to Norway exceeded the volume sent to the second major destination, Estonia (X units), fourfold. The third position in this ranking was held by Poland (X units), with a 4.2% share.

From 2012 to 2021, the average annual growth rate of volume to Norway stood at +17.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+26.0% per year) and Poland (0.0% per year).

In value terms, the largest markets for wood drilling machine exported from Finland were Norway ($X), Estonia ($X) and Lithuania ($X), together accounting for 74% of total exports.

Estonia, with a CAGR of +31.2%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wood drilling machine export price stood at $X per unit in 2021, picking up by 114% against the previous year. Over the period under review, the export price enjoyed a mild expansion. The most prominent rate of growth was recorded in 2017 an increase of 901% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Russia ($X per unit), while the average price for exports to Poland ($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 Lithuania (+34.8%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Drilling Machine Imports

Imports into Finland

In 2021, the amount of drilling or morticing machines imported into Finland reduced rapidly to X units, declining by -59.9% on the previous year. Overall, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of 79% against the previous year. Over the period under review, imports attained the maximum at X units in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, wood drilling machine imports reduced dramatically to $X in 2021. In general, imports showed a abrupt setback. The pace of growth appeared the most rapid in 2018 with an increase of 99.9% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of wood drilling machine to Finland, with a 59% share of total imports. Moreover, wood drilling machine imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. Austria (X units) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-20.8% per year) and Austria (+104.2% per year).

In value terms, Italy ($X), Austria ($X) and China ($X) constituted the largest wood drilling machine suppliers to Finland, with a combined 87% share of total imports.

Austria, with a CAGR of +70.9%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average wood drilling machine import price amounted to $X per unit, approximately mirroring the previous year. Overall, the import price recorded a buoyant increase. The most prominent rate of growth was recorded in 2018 when the average import price increased by 56% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Sweden ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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