VISION: Finland as the forerunner in providing smart technology solutions for high-emitting industrial processes, such as electrification and decarbonization-as-a-service
“Finland already has a strong multibillion-euro industrial machinery sector but there is still significant growth potential—the green transition is a natural growth opportunity for Finland.”
—Jukka Leskelä, Managing Director, Finnish Energy
Industrials account for ~18% of global GHG emissions, a majority of which are process related. With a >€2 trillion industrial machinery market that needs to decarbonize, the export potential of decarbonization technology and services is between €30 billion and €32 billion by 2035 based on Finland’s current exports and projected market growth for the green solutions. The green alternatives will grow at a projected 8%-15% CAGR until 2035 (vs. conventional only 3%-6%). Both decarbonization technology and services have a significant carbon handprint. As an example, electrified cracking and polymerization technology in plastic production has an estimated handprint of 1.3 kg CO2 per kg of plastic, reducing the emissions from plastic production by more than 30%.
Finland has an established industrial machinery sector that represents a significant share of its exports (~30% of total exports) and leans on strong engineering, process efficiency, and digitalization capabilities.
Brings together established machinery players and emerging players with pioneering green technology solutions, taking the existing Finnish machinery industry to the next level through decarbonization.
Photo by Coolbrook, RotoDynamic Technology, 2022