Finland: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in Finland

In 2022, after five years of growth, there was significant decline in the Finnish gym and fitness equipment market, when its value decreased by -22.7% to $X. Over the period under review, consumption, however, showed a resilient expansion. As a result, consumption attained the peak level of $X, and then declined rapidly in the following year.

Production of Gym and Fitness Equipment in Finland

In value terms, gym and fitness equipment production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when the production volume increased by 13%. Gym and fitness equipment production peaked at $X in 2021, and then reduced slightly in the following year.

Exports of Gym and Fitness Equipment

Exports from Finland

In 2022, overseas shipments of gym and fitness equipment increased by 7.9% to X tons, rising for the fifth year in a row after two years of decline. Over the period under review, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 55% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, gym and fitness equipment exports rose to $X in 2022. In general, total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 +57.1% against 2017 indices. The pace of growth was the most pronounced in 2020 when exports increased by 21%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Sweden (X tons) was the main destination for gym and fitness equipment exports from Finland, with a 53% share of total exports. Moreover, gym and fitness equipment exports to Sweden exceeded the volume sent to the second major destination, Estonia (X tons), sixfold. The third position in this ranking was taken by Germany (X tons), with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden amounted to +19.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+1.5% per year) and Germany (+6.9% per year).

In value terms, the largest markets for gym and fitness equipment exported from Finland were Sweden ($X), Germany ($X) and the United States ($X), with a combined 44% share of total exports. Estonia, Denmark, Norway, the Netherlands, the UK, Switzerland, Lithuania, Latvia, Italy and Russia lagged somewhat behind, together comprising a further 22%.

Lithuania, with a CAGR of +24.8%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average gym and fitness equipment export price amounted to $X per ton, which is down by -4.5% against the previous year. Over the period under review, the export price saw a deep downturn. The most prominent rate of growth was recorded in 2013 an increase of 3.8% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gym and Fitness Equipment

Imports into Finland

In 2022, overseas purchases of gym and fitness equipment decreased by -26.1% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 46%. As a result, imports reached the peak of X tons, and then declined sharply in the following year.

In value terms, gym and fitness equipment imports declined sharply to $X in 2022. In general, imports, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2021 when imports increased by 36% against the previous year. As a result, imports reached the peak of $X, and then plummeted in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest gym and fitness equipment supplier to Finland, accounting for a 75% share of total imports. Moreover, gym and fitness equipment imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold. Germany (X tons) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+9.9% per year) and Germany (+4.9% per year).

In value terms, China ($X) constituted the largest supplier of gym and fitness equipment to Finland, comprising 61% of total imports. The second position in the ranking was held by the United States ($X), with a 5.7% share of total imports. It was followed by Sweden, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+6.8% per year) and Sweden (+1.3% per year).

Import Prices by Country

The average gym and fitness equipment import price stood at $X per ton in 2022, rising by 8.9% against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the average import price increased by 26%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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