The electric domestic appliances market in Finland exhibited fluctuations between 2013 and 2016, with notable decline in 2015 and 2016. However, since 2017, there has been a consistent positive trend in the market value. The market stood at 6.5054 million in 2023, offering a 3.2% increase from the previous year. Over the past two years (2022 and 2023), the market demonstrates modest but stable growth with an average increase of around 3.27%. The 5-year Compound Annual Growth Rate (CAGR) from 2019 to 2023 is approximately 4.03%, indicating a healthy upward trend.
Looking forward, the market is forecasted to continue on this growth trajectory, with an estimated 11.63% increase by 2028, reflecting a 5-year CAGR of 2.22% from 2024 onwards. This projected growth suggests steady demand and potential market opportunities in the coming years.
Future trends to watch for:
- Advancements in smart home technologies.
- Increased consumer demand for energy-efficient appliances.
- Greater adoption of eco-friendly and sustainable products.
- Rising disposable incomes and urbanization.
- Ongoing aftereffects of global supply chain adjustments.
