The Fluid Power Equipment Manufacturing market in Finland has seen varied growth patterns over the years. Between 2013 and 2023, the market ranged from €427.5 million in 2013 to €578.9 million in 2023. The market experienced significant fluctuations with notable declines in 2016, 2017, 2018, and a sharp decline in 2020. Nonetheless, post-2020, the sector recovered steadily with consistent growth rates up to 2023. In 2023, the market reached a value of €578.9 million, reflecting a 5.63% year-on-year increase over 2022, with a compound annual growth rate (CAGR) of 3.5% over the last five years.
Looking ahead, the forecasted data from 2024 through 2028 suggests a steady growth trend. The market is expected to grow from €594.73 million in 2024 to €656.48 million by 2028, which translates to a forecasted CAGR of 2% over this period. This indicates a healthy medium-term growth outlook, with an overall forecasted 5-year growth rate of 10.38%.
Future trends to watch for include technological advancements in fluid power systems, increasing automation in the manufacturing sector, and the push for energy-efficient solutions. Additionally, global economic conditions and local policy changes may also influence the market dynamics in Finland.
