From 2013 to 2023, the production value of Electrical Equipment and Electronics in Finland has shown a generally upward trend, starting at 4.34 billion euros and reaching 5.32 billion euros in 2023. Observing the year-on-year variations and compound annual growth rates (CAGRs), the industry has faced fluctuations with notable increases in 2017 (9.03%) and slight declines in 2016 (-0.72%) and 2020 (-2.95%). Over the last two years, the industry achieved modest growth with year-on-year variations of 1.47% for 2022 and 1.44% for 2023. The last five years (2018-2023) saw an average yearly growth of 0.82%.
Forecasts for 2024 and onward predict continued growth, with a forecasted CAGR of 1.06% over the next five years, leading to an anticipated production value of 5.69 billion euros by 2028. This indicates a steady but slow growth trajectory.
Future trends to watch for include:
- Technological advancements and innovation in electrical and electronics manufacturing.
- Impact of global supply chain dynamics and potential disruptions.
- Increasing demand for sustainable and energy-efficient electrical products.
- Shifts in consumer behavior towards smart electronics and IoT devices.
