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2. Finnish market strongest for a decade

Construction equipment sales in Finland reached a peak of more than 2,500 units in 2018 and provisionally in 2019, according to a new country analysis from Off-Highway Research. This put demand on a par with the previous record levels seen a decade ago and marked a significant improvement from the recent low of 1,600 machines sold in 2013 and 2014.

The report said, “The past four years have been much better for the construction sector, growth having outstripped the improved performance of the general economy. Its contribution to overall GDP production, for example, is now 7.3 per cent, on a par with pre-financial crisis levels. All sectors of the industry have seen expansion since 2014.

“However, the biggest catalyst for growth has been investment in new building work. Specifically, from 2014 to 2017, investment in new build residential properties rose by €1.6 billion out of a total expansion of €4.9 billion. This was the largest single source of extra investment, as well as being by far the biggest proportionate growth of any sector – up by 33 per cent; overall, the industry grew 17 per cent in the same period.”

While the outlook for the construction sector is weakening – residential construction has peaked and may prove to be a bubble, and other sectors are seeing moderate declines – the construction equipment market is expected to stay in reasonable health. Off-Highway Research expects machine sales to stay above 2,000 units over the comping years, with some machine types offering growth.

Off-Highway Research’s December 2019 Finland country analysis is now available to subscribers to the European Service. Click here to log in. The report can also be bought as a stand-alone publication by non-subscribers. Click here for more details or contact [email protected] to enquire about a subscription.

Contents include an economic, political and construction market overview, analysis of 15 equipment types, looking at sales, production (where appropriate), machine populations and market trends, including five-year forecasts. The report also includes extensive manufacturer and distributor profiles.