The Finland market for bearing housings not incorporating ball or roller bearings, plain shaft bearings experienced variations over the past decade. It saw a significant decline between 2013 and 2015, reaching a low in 2015. A rebound occurred in 2016, followed by a slight decline and stabilization from 2017 onwards. In 2020, market growth peaked with a notable year-on-year increase of over 9%. By 2023, the market size reached 23.824 million euros, maintaining steady growth with year-on-year increases in 2022 and 2023. The compounded annual growth rate for the past five years was 0.52%.
Future trends to watch include potential impacts from technological advancements in manufacturing processes, increased demand in renewable energy sectors, and supply chain transformations. Addressing sustainability and innovation will be crucial for growth prospects in this market.
