Finland: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in Finland

The Finnish jacks and hoists market dropped to $X in 2022, waning by -6.1% against the previous year. Over the period under review, consumption enjoyed measured growth. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Jacks And Hoists Production in Finland

In value terms, jacks and hoists production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 27% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Jacks And Hoists Exports

Exports from Finland

In 2022, approx. X units of jacks and hoists for raising vehicles were exported from Finland; with a decrease of -27.2% compared with 2021 figures. In general, total exports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.3% 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 +50.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 107%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, jacks and hoists exports reduced sharply to $X in 2022. Over the period under review, total exports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when exports increased by 83% against the previous year. The exports peaked at $X in 2021, and then declined notably in the following year.

Exports by Country

Latvia (X units) was the main destination for jacks and hoists exports from Finland, accounting for a 49% share of total exports. Moreover, jacks and hoists exports to Latvia exceeded the volume sent to the second major destination, Estonia (X units), fivefold. India (X units) ranked third in terms of total exports with an 8.5% share.

From 2012 to 2022, the average annual growth rate of volume to Latvia amounted to +14.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+1.7% per year) and India (+35.5% per year).

In value terms, the largest markets for jacks and hoists exported from Finland were Estonia ($X), Russia ($X) and the United States ($X), together accounting for 35% of total exports. Poland, China, Latvia, India, Sweden and Bulgaria lagged somewhat behind, together comprising a further 32%.

Poland, with a CAGR of +25.8%, recorded the highest growth rate of 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

The average jacks and hoists export price stood at $X per unit in 2022, dropping by -15.6% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 46%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Latvia ($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 Russia (+26.3%), while the prices for the other major destinations experienced more modest paces of growth.

Jacks And Hoists Imports

Imports into Finland

Jacks and hoists imports into Finland dropped to X units in 2022, flattening at 2021 figures. Over the period under review, imports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 111%. As a result, imports attained the peak of X units, leveling off in the following year.

In value terms, jacks and hoists imports contracted rapidly to $X in 2022. Overall, total imports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.5% 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 +54.2% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 83%. As a result, imports reached the peak of $X, and then reduced sharply in the following year.

Imports by Country

In 2022, China (X units) constituted the largest jacks and hoists supplier to Finland, with a 81% share of total imports. Moreover, jacks and hoists imports from China exceeded the figures recorded by the second-largest supplier, Austria (X units), tenfold. Germany (X units) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+58.7% per year) and Germany (-4.1% per year).

In value terms, China ($X) constituted the largest supplier of jacks and hoists for raising vehicles to Finland, comprising 47% of total imports. The second position in the ranking was held by Sweden ($X), with a 20% share of total imports. It was followed by Germany, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-2.0% per year) and Germany (-6.1% per year).

Import Prices by Country

The average jacks and hoists import price stood at $X per unit in 2022, falling by -15% against the previous year. In general, the import price recorded a abrupt contraction. The pace of growth was the most pronounced in 2017 an increase of 29%. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Sweden ($X per unit), while the price for China ($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 (+5.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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