Mechanical shovels, excavators and shovel loaders market in Finland

Earlier Report Observations

The market for mechanical shovels, excavators, and shovel loaders in Finland began at 324.2 million US dollars in 2018. European construction equipment trends showed declining used crawler excavator sales in the first half of the year, which tempered overall market growth. The market size reached 327.3 million US dollars in 2019.

A sharp contraction followed in 2020, bringing the market down to 284.4 million US dollars. A strong recovery occurred in 2021, with the market jumping 24% to 352.6 million US dollars. The market then stabilized around 334 million US dollars in 2022 and 2023.

In 2024, the market declined to 263.6 million US dollars. During this period, forestry operations schedules, including the timing of logging and residue collection, influenced machinery demand. Bucket manufacturing saw an emphasis on customization, durable materials like Hardox steel, and machine-specific tailoring. The market diversified with a wide range of new and used excavator buckets, and domestic producers such as Maakunnan kone gained recognition for high-end, long-lasting products.

Production mechanical shovels, excavators and shovel loaders in Finland

In value, 2017-2020, M $ US

In 2020, Finland's production of mechanical shovels, excavators, and shovel loaders reached a value of 380.2 million US dollars, marking a 3.6% increase compared to 2019. Over the period from 2017 to 2020, production grew by 13.6%, with an average annual growth rate of 4.3%. The highest value was recorded in 2018 at 426.6 million US dollars, which saw a significant increase of 27.4%. However, in 2019, production experienced its largest decline of 14.0%.

Annual dynamics of production in Finland in value, 2017-2020, M $ US

In kind, 2017-2020, unit

Finland's production of mechanical shovels, excavators, and shovel loaders has increased for the third consecutive year. In 2020, 7,126 units were produced, showing a sharp year-on-year rise of 33.9%. From 2017 to 2020, production surged by 76.3%, with an average annual growth rate of 20.8%.

Annual dynamics of production in Finland in kind, 2017-2020, unit

Exports mechanical shovels, excavators and shovel loaders from Finland

Exports in kind, unit

Finland's export volume of mechanical shovels, excavators, and shovel loaders has grown for the third year in a row. In 2020, exports totaled 5,096 units, reflecting a modest increase of 1.2% compared to the previous year. Between 2017 and 2020, exports rose by 23.4%, equivalent to an annualized rate of 7.2%.

Annual dynamics of product's exports from Finland in kind, 2017-2020, unit

From 2017 to 2020, Finland's exports of mechanical shovels, excavators, and shovel loaders were distributed across a wide range of buyers. The top three destinations—Sweden (11.1% of exports in kind), the United States (9.9%), and Belgium (9.6%)—collectively accounted for only 30.6% of total exports in kind, with numerous other countries holding smaller but notable shares.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Finland in kind, 2017-2020

Exports in value, M $ US

Finland's export value of mechanical shovels, excavators, and shovel loaders declined for the second consecutive year. In 2020, exports amounted to 342.0 million US dollars, showing a slight drop of 2.6% from 2019. Over the period from 2017 to 2020, exports increased by 7.1%, with an annualized growth rate of 2.3%. The peak value was recorded in 2018 at 390.7 million US dollars, which saw a substantial increase of 22.3%. However, in 2019, exports experienced their largest decline of 10.1%.

Annual dynamics of product's exports from Finland in value, 2017-2020, M $ US

Between 2017 and 2020, Finland's exports of mechanical shovels, excavators, and shovel loaders were directed to many diverse markets. Even the largest destinations—Australia, Sweden, and Mexico—together represented only 32.5% of total exports in value terms.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Finland in value, 2017-2020

Imports mechanical shovels, excavators and shovel loaders to Finland

Imports in kind, unit

After two years of growth, Finland's import volume of mechanical shovels, excavators, and shovel loaders declined. In 2020, imports stood at 2,692 units, down by 24.0% compared to 2019. The highest volume was recorded in 2019 at 3,543 units, while the largest increase occurred in 2018 with a rise of 16.8%.

Annual dynamics of product's imports to Finland in kind, 2017-2020, unit

From 2017 to 2020, Germany (22.8% of imports in kind), the United Kingdom (16.3%), and Japan (14.1%) were the main suppliers of mechanical shovels, excavators, and shovel loaders to Finland, jointly accounting for 53.3% of total imports in kind.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, M $ US

Following two years of growth, Finland's import value of mechanical shovels, excavators, and shovel loaders decreased. In 2020, imports reached 246.2 million US dollars, representing a significant decline of 20.9% from the previous year. Between 2017 and 2020, imports rose by 6%, with an annualized growth rate of 2.0%. The peak value was recorded in 2019 at 311.4 million US dollars, while the largest increase occurred in 2018 with a rise of 24.1%.

Annual dynamics of product's imports to Finland in value, 2017-2020, M $ US

During 2017–2020, Germany (24.0% of imports in value terms), Japan (17.9%), and South Korea (13.7%) remained the primary suppliers of mechanical shovels, excavators, and shovel loaders to Finland, collectively making up 55.6% of total imports in value terms.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020