The production value in the repair of motor vehicles and motorcycles sector in Finland has shown a steady increase from 30.15 billion Euros in 2013 to 35.4 billion Euros in 2023. This represents an absolute growth of approximately 5.25 billion Euros over this period. The production values have increased each year, with the most notable year-on-year increases observed in 2018 (5.28%) and 2020 (2.39%). As of 2023, the sector stood at 35.4 billion Euros, marking a 1.42% year-on-year growth from the previous year.
Looking forward, the forecasted data suggest that the sector will continue to expand, projecting an increase to 37.81 billion Euros by 2028. The average annual growth rate (CAGR) over the forecasted period is expected to be around 1.05%, indicating a slower but steady growth rate compared to the previous half-decade, which averaged around 1.49% per year.
Future trends to watch for include potential market saturation, shifts towards electric and hybrid vehicle repairs, and the impact of technological advancements such as automation and digitalization in repair services. These factors can significantly influence future production values in the sector.
