Finland: Non-Electric Motor Handtools Market 2024

Non-Electric Motor Handtools Market Size in Finland

For the third consecutive year, the Finnish non-electric motor handtools market recorded growth in sales value, which increased by 6.7% to $X in 2022. Over the period under review, consumption showed a relatively flat trend pattern. Non-electric motor handtools consumption peaked in 2022 and is expected to retain growth in the immediate term.

Non-Electric Motor Handtools Production in Finland

In value terms, non-electric motor handtools production expanded remarkably to $X in 2022 estimated in export price. In general, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +63.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 21% against the previous year. Non-electric motor handtools production peaked in 2022 and is likely to see gradual growth in years to come.

Non-Electric Motor Handtools Exports

Exports from Finland

In 2022, overseas shipments of handtools, hydraulic or with a self-contained non-electric motor decreased by -51.2% to X units, falling for the second consecutive year after two years of growth. Over the period under review, exports showed a deep slump. The growth pace was the most rapid in 2020 with an increase of 40% against the previous year. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-electric motor handtools exports declined to $X in 2022. Overall, exports showed a deep slump. The most prominent rate of growth was recorded in 2014 when exports increased by 18% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Estonia (X units), Russia (X units) and Latvia (X units) were the main destinations of non-electric motor handtools exports from Finland, together comprising 57% of total exports. Kazakhstan, Sweden, Lithuania, the Netherlands, the Dominican Republic, Hong Kong SAR, China, Belize and Oman lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +54.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-electric motor handtools exported from Finland were Estonia ($X), Russia ($X) and Kazakhstan ($X), together accounting for 58% of total exports. Latvia, Sweden, Lithuania, the Netherlands, the Dominican Republic, China, Belize, Oman and Hong Kong SAR lagged somewhat behind, together comprising a further 30%.

The Netherlands, with a CAGR of +79.1%, saw the highest rates of growth with regard to the value of exports, in terms of 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 non-electric motor handtools export price amounted to $X per unit, surging by 93% against the previous year. In general, the export price showed a relatively flat trend pattern. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per unit), while the average price for exports to Hong Kong SAR ($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 (+16.1%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Motor Handtools Imports

Imports into Finland

In 2022, imports of handtools, hydraulic or with a self-contained non-electric motor into Finland surged to X units, picking up by 32% compared with the year before. Overall, imports recorded a strong increase. The most prominent rate of growth was recorded in 2020 when imports increased by 55% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, non-electric motor handtools imports declined to $X in 2022. Over the period under review, imports, however, continue to indicate a pronounced setback. The pace of growth appeared the most rapid in 2020 with an increase of 5.3% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Germany (X units) and Poland (X units) were the main suppliers of non-electric motor handtools imports to Finland, together comprising 64% of total imports. France, the United States, Sweden, Austria, Singapore, the UK, the Netherlands, Norway and Japan lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +90.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and Poland ($X) appeared to be the largest non-electric motor handtools suppliers to Finland, together accounting for 64% of total imports. France, the United States, Sweden, Austria, Singapore, the UK, the Netherlands, Norway and Japan lagged somewhat behind, together accounting for a further 30%.

Among the main suppliers, Singapore, with a CAGR of +72.9%, recorded 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

In 2022, the average non-electric motor handtools import price amounted to $X per unit, shrinking by -35.2% against the previous year. Over the period under review, the import price continues to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2019 an increase of 19%. Over the period under review, average import prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were China ($X per unit) and Poland ($X per unit), while the price for Norway ($X per unit) and the Netherlands ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (-8.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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