Forecast: Parts and Accessories for Motor Vehicles Production Value in Finland

Over the past decade, the production value of parts and accessories for motor vehicles in Finland has experienced significant fluctuations, with notable downturns in 2014 and 2016 followed by a recovery phase peaking in 2020 at EUR 268.4 million. From there, a slight downward trend is observed with a continuous decrease from 2021 to 2023, where the value stood at EUR 259.6 million. Year-on-year variations fluctuate considerably: a sharp drop in 2014 by 30.09%, a recovery in 2017 by 26.31%, and recent declines by 0.88% in 2023. The 5-year CAGR preceding 2023 highlights a modest 1.26% average growth per year.

Looking forward, the forecast suggests a very gradual decline in production value, averaged at a forecasted -0.34% CAGR over the next five years, indicating a stabilizing yet slightly negative trend. This projected reduction equates to an overall 1.67% decline through 2028.

Future trends to watch for include technological advancements in automotive manufacturing, shifts towards electric vehicles, and changes in global supply chain dynamics, all of which could potentially influence production values. The Finnish market should also stay alert to the economic impacts induced by global and regional trade policies, as well as environmental regulations.