Over the past decade, the motor vehicles, trailers, and semi-trailers turnover in Finland has shown a general upward trend, increasing from €1.44 billion in 2013 to €2.34 billion in 2023. The sector experienced substantial growth from 2017 to 2019, reaching over €2 billion. However, a slight dip in 2020 due to the global pandemic conditions was followed by a modest recovery in subsequent years.
Year-on-year growth rates varied, with notable peaks in 2017 (19.29%) and declines such as -4.89% in 2020. Over the last two years, the market grew by 1.95% in 2022 and 1.89% in 2023, with the compound annual growth rate (CAGR) for the past five years standing at 0.93% in 2023.
Future projections suggest continued moderate growth, with the sector expected to reach €2.55 billion by 2028. The forecasted five-year CAGR is 1.36%, indicating steady, if not spectacular, growth.
Future trends to watch for include advancements in electric vehicle technology, increased emphasis on sustainability and environmental regulations, as well as potential economic fluctuations that could impact consumer demand and industry investments.
