Finland: Market for Grinding, Sanding and Polishing Machines 2024

Market Size for Grinding, Sanding and Polishing Machines in Finland

The Finnish market for grinding, sanding and polishing machines surged to $X in 2022, picking up by X% against the previous year. In general, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Grinding, Sanding and Polishing Machines in Finland

In value terms, grinding, sanding and polishing machine production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a significant increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Grinding, sanding and polishing machine production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Grinding, Sanding and Polishing Machines

Exports from Finland

Grinding, sanding and polishing machine exports from Finland dropped sharply to X units in 2022, with a decrease of X% on 2021. Over the period under review, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, grinding, sanding and polishing machine exports dropped to $X in 2022. In general, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Russia (X units) was the main destination for grinding, sanding and polishing machine exports from Finland, with a X% share of total exports. Moreover, grinding, sanding and polishing machine exports to Russia exceeded the volume sent to the second major destination, Estonia (X units), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Russia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (X% per year) and the United States (X% per year).

In value terms, Russia ($X) remains the key foreign market for grinding, sanding and polishing machines exports from Finland, comprising X% of total exports. The second position in the ranking was taken by Estonia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (X% per year) and the United States (X% per year).

Export Prices by Country

The average export price for grinding, sanding and polishing machines stood at $X per unit in 2022, with an increase of X% against the previous year. In general, the export price showed resilient growth. The pace of growth appeared the most rapid in 2020 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, 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 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding, Sanding and Polishing Machines

Imports into Finland

In 2022, the amount of grinding, sanding and polishing machines imported into Finland soared to X units, rising by X% on the previous year's figure. In general, imports, however, saw a abrupt setback. Imports peaked at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, grinding, sanding and polishing machine imports surged to $X in 2022. Over the period under review, imports showed a pronounced increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X units), the Netherlands (X units) and Belgium (X units) were the main suppliers of grinding, sanding and polishing machine imports to Finland, together comprising X% of total imports. Germany, Austria, Sweden, Hong Kong SAR, the United States and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and Austria ($X) were the largest grinding, sanding and polishing machine suppliers to Finland, together comprising X% of total imports. The Netherlands, Sweden, Belgium, Hong Kong SAR, the United States and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

Hong Kong SAR, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for grinding, sanding and polishing machines stood at $X per unit in 2022, reducing by X% against the previous year. Overall, the import price, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2020 an increase of X%. The import price peaked at $X per unit in 2021, and then contracted notably in the following year.

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 Germany ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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