Forecast: Electric Motors, Generators, Transformers Production Value in Finland

From 2013 to 2023, Finland’s electric motors, generators, and transformers production value exhibited varying trends. The sector saw steady growth from 2013 to 2019, except for 2020, when it witnessed a significant dip, likely due to the global pandemic. Recovery was evident in 2021, with values stabilizing around €3.1 billion. As of 2023, the value stood at €3.15 billion, reflecting a year-on-year increase of 0.75%. The CAGR for the past five years is 1.29%, indicative of moderate growth.

Looking ahead to the forecast period from 2024 to 2028, values are expected to climb gradually, achieving €3.27 billion by 2028. This forecast represents an average annual growth rate (CAGR) of 0.6% over the next five years. Despite the modest growth rate, the sector is poised for continued expansion.

Future trends to watch for:

• Increased investment in renewable energy sources may drive demand for electric motors and generators.
• Technological advancements, such as smart grid technologies, could spur innovation and growth in the transformers segment.
• Global supply chain dynamics and geopolitical factors may impact production costs and scalability.