Finland: Lifting Equipment Market 2024

Lifting Equipment Market Size in Finland

The Finnish lifting equipment market reduced to $X in 2022, dropping by X% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Lifting Equipment Production in Finland

In value terms, lifting equipment production declined rapidly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Lifting Equipment Exports

Exports from Finland

In 2022, overseas shipments of lifting equipment were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, lifting equipment exports expanded rapidly to $X in 2022. Overall, exports, however, saw a deep reduction. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X units), Argentina (X units) and Turkey (X units) were the main destinations of lifting equipment exports from Finland, with a combined X% share of total exports. Iceland, Norway, Serbia, Poland, Egypt, Montenegro and Germany lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for lifting equipment exported from Finland were Argentina ($X), Turkey ($X) and Iceland ($X), together accounting for X% of total exports. Russia, Norway, Poland, Serbia, Egypt, Montenegro and Germany lagged somewhat behind, together comprising a further X%.

Serbia, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of 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

In 2022, the average lifting equipment export price amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the export price, however, showed a deep downturn. The growth pace was the most rapid in 2020 an increase of X%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to Germany ($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 Serbia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Lifting Equipment Imports

Imports into Finland

In 2022, after two years of decline, there was significant growth in purchases abroad of lifting equipment, when their volume increased by X% to X units. Overall, imports, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, lifting equipment imports surged to $X in 2022. In general, imports, however, saw a slight reduction. The pace of growth appeared the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Sweden (X units) constituted the largest supplier of lifting equipment to Finland, with a X% share of total imports. Moreover, lifting equipment imports from Sweden exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. The third position in this ranking was held by Germany (X units), with a X% share.

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

In value terms, the largest lifting equipment suppliers to Finland were Sweden ($X), Italy ($X) and Germany ($X), with a combined X% share of total imports. Estonia, Austria, Norway, China, the UK and Japan lagged somewhat behind, together comprising a further X%.

Norway, with a CAGR of X%, saw the highest growth rate of 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 lifting equipment import price stood at $X per unit in 2022, which is down by X% against the previous year. In general, the import price, however, saw perceptible growth. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 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 Austria ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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