Finland: Vacuum Pump Market 2024

Vacuum Pump Market Size in Finland

In 2022, the Finnish vacuum pump market increased by 40% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption posted a strong expansion. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the immediate term.

Vacuum Pump Production in Finland

In value terms, vacuum pump production declined markedly to $X in 2022 estimated in export price. Overall, production, however, showed a sharp reduction. The pace of growth appeared the most rapid in 2014 with an increase of 461%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Vacuum Pump Exports

Exports from Finland

In 2022, exports of vacuum pumps from Finland reached X units, picking up by 3.9% against 2021. In general, exports recorded prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 162%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, vacuum pump exports surged to $X in 2022. Overall, exports continue to indicate a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Austria (X units) was the main destination for vacuum pump exports from Finland, with a 25% share of total exports. Moreover, vacuum pump exports to Austria exceeded the volume sent to the second major destination, Uruguay (X units), threefold. The third position in this ranking was taken by Croatia (X units), with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Austria totaled +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (+85.6% per year) and Croatia (+50.2% per year).

In value terms, China ($X) remains the key foreign market for vacuum pumps exports from Finland, comprising 48% of total exports. The second position in the ranking was taken by Turkey ($X), with a 16% share of total exports. It was followed by Russia, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to +111.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+131.2% per year) and Russia (+8.2% per year).

Export Prices by Country

The average vacuum pump export price stood at $X per unit in 2022, surging by 143% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Austria ($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 Turkey (+39.7%), while the prices for the other major destinations experienced more modest paces of growth.

Vacuum Pump Imports

Imports into Finland

In 2022, supplies from abroad of vacuum pumps increased by 42% to X units, rising for the third year in a row after two years of decline. Overall, imports showed a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 449%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, vacuum pump imports surged to $X in 2022. In general, imports enjoyed strong growth. The growth pace was the most rapid in 2017 with an increase of 22% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X units), China (X units) and Belgium (X units) were the main suppliers of vacuum pump imports to Finland, together comprising 62% of total imports. Sweden, Singapore, the Netherlands, Japan, the UK and Hungary lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +63.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of vacuum pumps to Finland, comprising 38% of total imports. The second position in the ranking was held by Belgium ($X), with a 9.9% share of total imports. It was followed by Sweden, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+44.6% per year) and Sweden (+2.3% per year).

Import Prices by Country

The average vacuum pump import price stood at $X per unit in 2022, with a decrease of -17.5% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 338%. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the average import prices remained 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 Hungary ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+146.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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