Finland: Hydraulic Jack Market 2024

Hydraulic Jack Market Size in Finland

The Finnish hydraulic jack market contracted to $X in 2022, falling by -13.9% against the previous year. Overall, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +66.3% against 2020 indices. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Hydraulic Jack Production in Finland

In value terms, hydraulic jack production shrank to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 77%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Hydraulic Jack Exports

Exports from Finland

In 2022, approx. X units of hydraulic jacks and hoists for raising vehicles were exported from Finland; falling by -16.5% on the previous year's figure. Overall, exports saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by 24% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, hydraulic jack exports fell dramatically to $X in 2022. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 78%. As a result, the exports attained the peak of $X, and then declined markedly in the following year.

Exports by Country

Estonia (X units) was the main destination for hydraulic jack exports from Finland, with a 57% share of total exports. Moreover, hydraulic jack exports to Estonia exceeded the volume sent to the second major destination, Russia (X units), fourfold. The third position in this ranking was held by Sweden (X units), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Estonia amounted to +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-12.5% per year) and Sweden (+0.3% per year).

In value terms, Estonia ($X), Russia ($X) and Sweden ($X) constituted the largest markets for hydraulic jack exported from Finland worldwide, with a combined 64% share of total exports. Germany and Latvia lagged somewhat behind, together accounting for a further 5%.

In terms of the main countries of destination, Germany, with a CAGR of +78.3%, saw the highest rates of growth with regard to the value of exports, 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 hydraulic jack export price amounted to $X per unit, falling by -11.7% against the previous year. Over the period under review, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hydraulic jack export price increased by +43.8% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 56%. As a result, the export price reached the peak level of $X per unit, and then dropped in the following year.

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 Germany ($X per unit), while the average price for exports to Latvia ($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 Germany (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Hydraulic Jack Imports

Imports into Finland

In 2022, overseas purchases of hydraulic jacks and hoists for raising vehicles increased by 13% to X units, rising for the second year in a row after two years of decline. In general, total imports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 48%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, hydraulic jack imports reduced markedly to $X in 2022. Overall, imports saw a perceptible increase. The growth pace was the most rapid in 2021 when imports increased by 120% against the previous year. As a result, imports reached the peak of $X, and then contracted sharply in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of hydraulic jack to Finland, with a 90% share of total imports. Moreover, hydraulic jack imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. India (X units) ranked third in terms of total imports with a 0.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+12.4% per year) and India (-13.3% per year).

In value terms, China ($X) constituted the largest supplier of hydraulic jacks and hoists for raising vehicles to Finland, comprising 55% of total imports. The second position in the ranking was held by Italy ($X), with a 14% share of total imports. It was followed by the Netherlands, with a 6% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+7.2% per year) and the Netherlands (-3.8% per year).

Import Prices by Country

The average hydraulic jack import price stood at $X per unit in 2022, declining by -33.2% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2022: its price 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. The growth pace was the most rapid in 2016 when the average import price increased by 62%. The import price peaked at $X per unit in 2021, and then declined sharply in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+21.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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