The production in the installation of industrial machinery and equipment sector in Finland has experienced significant volatility from 2013 to 2023. After a steep decline in 2014, there was significant growth in 2015 and 2016, followed by another drop in 2017. The period from 2018 to 2022 saw relatively stable but fluctuating production values, with small declines and occasional growth. The year-on-year variation for 2022 and 2023 was minimal, both being less than 1%. In 2023, the sector's value stood at 564.1 million euros. Looking at the compounded annual growth rate (CAGR) for the past five years, we've witnessed modest growth, though it varies annually.
Future trends to watch for include the forecasted gradual decline in production values from 2024 to 2028, with an estimated average annual decline (CAGR) of 0.46%. This indicates a likely stabilization with slight downward pressure on the sector's output, suggesting the sector could experience modest contraction unless counteracting market forces emerge. Key factors to monitor include technological advancements, shifts in global supply chains, and economic policies impacting industrial machinery investments.
