The engines and turbines turnover in Finland stood at 1.94 Billion Euros in 2023. Over the last decade, the sector experienced fluctuations with a general downward trend. From 2013 to 2023, turnover declined by approximately 18.5%. The most significant annual decrease was observed in 2020 with a 16.15% drop, likely influenced by global economic conditions. Recent years have shown a slight decline with a 1.51% decrease in both 2022 and 2023. The average annual variation over the last five years is -2.7%.
Looking to the future, the market is forecasted to continue its decline, with an anticipated annual average decrease of 1.32% over the next five years, leading to a cumulative reduction of 6.42% by 2028.
Future trends to watch for:
- Technological advancements in renewable energy that may impact traditional engine and turbine industries.
- Regulatory changes and environmental policies potentially influencing market dynamics.
- Global economic conditions affecting the industrial and manufacturing sectors.
- Investments in sustainable energy solutions that could alter market demand.
