Finland: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Finland

After six years of growth, the Finnish market for vacuum pumps and air or gas compressors decreased by -0.9% to $X in 2022. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Vacuum Pumps and Air or Gas Compressors in Finland

In value terms, production of vacuum pumps and air or gas compressors declined sharply to $X in 2022 estimated in export price. In general, production, however, saw a slight decrease. The growth pace was the most rapid in 2014 when the production volume increased by 49% against the previous year. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from Finland

In 2022, the amount of vacuum pumps and air or gas compressors exported from Finland contracted to X units, almost unchanged from 2021. In general, total exports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +20.9% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 33%. Over the period under review, the exports of hit record highs at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, exports of vacuum pumps and air or gas compressors skyrocketed to $X in 2022. Over the period under review, total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +22.4% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 39% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Sweden (X units) was the main destination for exports of vacuum pumps and air or gas compressors from Finland, with a 17% share of total exports. Moreover, exports of vacuum pumps and air or gas compressors to Sweden exceeded the volume sent to the second major destination, France (X units), twofold. Russia (X units) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden stood at +7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+6.8% per year) and Russia (-11.9% per year).

In value terms, China ($X) remains the key foreign market for vacuum pumps and air or gas compressors exports from Finland, comprising 25% of total exports. The second position in the ranking was taken by Norway ($X), with an 8.6% share of total exports. It was followed by Germany, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +28.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-1.1% per year) and Germany (+13.3% per year).

Export Prices by Country

The average export price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, increasing by 24% against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 an increase of 29%. The export price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into Finland

In 2022, purchases abroad of vacuum pumps and air or gas compressors decreased by -10.2% to X units for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports continue to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2021 with an increase of 28%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of vacuum pumps and air or gas compressors rose modestly to $X in 2022. The total import value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 22% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest vacuum pump and air or gas compressor supplier to Finland, with a 44% share of total imports. Moreover, imports of vacuum pumps and air or gas compressors from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.3% per year) and Taiwan (Chinese) (+0.2% per year).

In value terms, Germany ($X), Belgium ($X) and Switzerland ($X) appeared to be the largest vacuum pump and air or gas compressor suppliers to Finland, with a combined 45% share of total imports. The UK, China, the United States, Italy, Japan, Sweden, Taiwan (Chinese) and Ukraine lagged somewhat behind, together comprising a further 34%.

Among the main suppliers, Ukraine, with a CAGR of +80.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, growing by 15% against the previous year. In general, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 an increase of 37% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+23.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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