The Motor Vehicle Wheels (And Including Parts) market in Finland experienced fluctuating growth over the past decade. From 2012 to 2018, the market showed consistent upward momentum, peaking at $494.25 million in 2018. However, from 2019 to 2020, the market faced declines, most notably in 2020 due to external factors affecting demand and production. Recovery started in 2021 with minor growth, and by 2022, the market value reached $435.42 million, still below the 2018 peak but showing a positive year-on-year trajectory.
In 2023, the market stood at a value that indicated a continuing upward trajectory, driven by revival in automotive demand and innovation in wheel technology. The last five years' CAGR was slightly negative at -0.14%, reflecting the market volatility.
Future trends to watch for include the impact of electric vehicle adoption, advancements in lightweight materials, and supply chain changes. Monitoring these factors will be crucial for understanding potential market shifts and growth opportunities.
| # | 36 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 39,551,000,000 | 2023 | +2.38% | +2.35% | View data |
| 2 | 2 China | 19,307,000,000 | 2023 | +3.7% | +3.76% | View data |
| 3 | 3 Germany | 8,397,200,000 | 2023 | +1.11% | +1.25% | View data |
| 4 | 4 Japan | 7,915,500,000 | 2023 | -0.11% | -1.47% | View data |
| 5 | 5 United Kingdom | 3,316,600,000 | 2023 | +0.57% | +0.48% | View data |
| 17 | 17 Australia | 608,820,000 | 2023 | -4.5% | -4.36% | View data |
| 18 | 18 Poland | 581,770,000 | 2023 | -1.34% | -1.9% | View data |
| 19 | 19 Finland | 524,750,000 | 2023 | +6.79% | +1.2% | |
| 20 | 20 Norway | 500,270,000 | 2023 | +2.27% | +1.65% | View data |
| 21 | 21 Switzerland | 482,540,000 | 2023 | +1.39% | +1.31% | View data |
