The production value in Finland's electrical equipment manufacturing sector reached €5.32 billion in 2023. From 2013 to 2023, notable fluctuations were observed, including a modest decline in 2020 and consistent growth in subsequent years. The most notable year-on-year growth occurred in 2017 with an increase of 9.03%, while 2020 saw a reduction of 2.95%. Over the last two years, growth has been steady at around 1.44% annually. The five-year CAGR from 2019 to 2023 stands at 0.82%. Based on forecasts, the sector is expected to grow to €5.69 billion by 2028, reflecting a five-year CAGR of 1.06% and a total growth rate of 5.43%.

Future trends to watch for:

Technological advancements and innovation in electrical equipment.
Increased demand for sustainable and energy-efficient solutions.
Impact of global economic conditions and supply chain factors.
Potential regulatory changes and government policies supporting domestic manufacturing.