The import value of hydraulic turbines, water wheels, and regulators to Finland has seen significant fluctuations over the past decade. The value stood at 1.9725 million USD in 2013, reaching a peak of 3.5453 million USD in 2014, before experiencing a series of declines and modest recoveries. In 2023, the import value was 1.4632 million USD.
The year-on-year variations over the last two years highlight a downward trend: a decrease of 6.23% in 2022 followed by a further decline of 6.51% in 2023. The Compound Annual Growth Rate (CAGR) for the past five years reveals a significant negative trend of -5.37%.
Looking ahead, the forecast suggests a continued decline, with the import value expected to reach 0.93124 million USD by 2028. The forecasted 5-year CAGR at -7.18% and the forecasted 5-year growth rate of -31.09% indicate a steady downtrend in the sector.
Future trends to watch for include emerging technologies in renewable energy that might impact the demand for hydraulic turbines and associated equipment. Additionally, policy changes and investments in green energy projects could influence the import values positively or negatively, depending on the direction they take.
