Over the past decade, the electric domestic appliances production value in Finland has experienced fluctuations. The value saw significant declines from 2013 to 2016, followed by a recovery phase starting in 2017. Notably, there was a considerable increase between 2018 and 2020, with the value reaching 124.3 million EUR in 2020. This upward trend leveled off, stabilizing around 125.2 million EUR by 2023.
From a year-on-year perspective, recent years have shown minimal variation, indicating a stable market. The value increased by 0.32% in 2021, 0.24% in 2022, and a mere 0.16% in 2023. The compound annual growth rate (CAGR) over the last five years stood at 3.6% as of 2023.
Looking forward, the forecast indicates a continued sluggish growth, with a forecasted CAGR of just 0.08% over the next five years and an overall growth rate of 0.4% by 2028. This suggests that the market is entering a mature phase with limited growth potential.
Future trends to watch for:
- Impact of technological advancements in energy efficiency and smart features.
- Changes in consumer preferences toward eco-friendly appliances.
- Economic factors influencing consumer spending power.
