Finland: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Finland

After six years of growth, the Finnish gearboxes and speed changers market decreased by X% to $X in 2022. Overall, consumption, however, saw prominent growth. Over the period under review, the market attained the maximum level at $X in 2021, and then plummeted in the following year.

Production of Gearboxes and Speed Changers in Finland

In value terms, gearboxes and speed changers production shrank remarkably to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Exports of Gearboxes and Speed Changers

Exports from Finland

In 2022, overseas shipments of gearboxes and speed changers decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, exports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, gearboxes and speed changers exports shrank dramatically to $X in 2022. Over the period under review, exports recorded a deep setback. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X tons), the United States (X tons) and China (X tons) were the main destinations of gearboxes and speed changers exports from Finland, together comprising X% of total exports. Sweden, Japan, Denmark, Poland, the Netherlands, Canada, the UK, Brazil, Russia and France lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for gearboxes and speed changers exported from Finland were the United States ($X), Germany ($X) and China ($X), together accounting for X% of total exports. Sweden, Japan, Poland, Russia, the Netherlands, Canada, Denmark, Brazil, the UK and France lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Poland, with a CAGR of X%, saw 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 gearboxes and speed changers export price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The export price peaked at $X per ton 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 external markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Denmark ($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 Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gearboxes and Speed Changers

Imports into Finland

After five years of growth, purchases abroad of gearboxes and speed changers decreased by X% to X tons in 2022. Over the period under review, imports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports reached the peak of X tons, and then contracted significantly in the following year.

In value terms, gearboxes and speed changers imports declined notably to $X in 2022. Overall, imports, however, enjoyed prominent growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then dropped notably in the following year.

Imports by Country

In 2022, Belgium (X tons) constituted the largest gearboxes and speed changers supplier to Finland, accounting for a X% share of total imports. Moreover, gearboxes and speed changers imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Italy (X tons) ranked third in terms of total imports with an X% share.

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

In value terms, the largest gearboxes and speed changers suppliers to Finland were Belgium ($X), Germany ($X) and Italy ($X), with a combined X% share of total imports. Sweden, China, the Czech Republic and Denmark lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, China, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average gearboxes and speed changers import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price, however, saw a slight curtailment. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Sweden ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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