The engines and turbines production value in Finland showed a decline from 2013 to 2016, dropping from 2.04 billion Euros in 2013 to 1.17 billion Euros in 2016. This period was marked by a sharp year-on-year reduction of up to -28.16% in 2016. A recovery followed from 2017 to 2018, but production values fluctuated afterwards, generally trending downwards from 1.53 billion Euros in 2018 to 1.31 billion Euros in 2023, demonstrating a challenging market with another significant drop in 2020 by -19.77%. The period's five-year CAGR evidence a broad decline, particularly from 1.18 billion Euros in 2020 to 1.31 billion Euros in 2023 with a CAGR of -3.13%.
Future trends to watch for include technological innovations and shifts towards sustainable energy solutions potentially influencing production positively. However, the forecast indicates a continued slight decline in production value, with an estimated CAGR of -2.51% from 2024 to 2028. Focus areas should encompass digital transformation in manufacturing processes and adaptations to emerging market trends in green energy.
