Electric hand drills market in Finland

Earlier Report Observations

The electric hand drill market in Finland underwent a pronounced downturn between 2018 and 2023, shrinking from a value of over 33 million dollars to just under 13 million dollars. This extended contraction was reversed in 2024, when the market value rebounded to 15.3 million dollars.

The market's recovery in 2024 aligned with Finland having Europe's third-lowest electricity price, which lowered production and operating costs while making power tools more economical for end-users. Concurrently, rising consumer preference for cordless drills, driven by improved battery technology, and a growing culture of DIY home renovations contributed to increased demand.

Technological innovations, including the adoption of brushless motors and new robotic drilling systems from major brands, provided further stimulus for the market. Although import prices for power tools rose during the year, these factors did not outweigh the positive impact of cheap energy and shifting consumption patterns on the overall market size.

Production electric hand drills in Finland

In value, 2017-2020, K $ US

In 2020, Finland's production of electric hand drills was valued at 1 065 K $ US, marking a significant 13.8% decline compared to 2019. Over the period from 2017 to 2020, production decreased by 7.2%, with an annualized rate of 2.5%. The highest production value was recorded in 2019 at 1 236 K $ US, which also saw the largest increase of 10.4%.

Annual dynamics of production in Finland in value, 2017-2020, K $ US

In kind, 2017-2020, unit

In 2020, Finland produced 479.0 units of electric hand drills, representing a solid 15.4% drop from 2019. Between 2017 and 2020, production fell by 17.6%, equating to an annualized decline of 6.2%. The lowest production volume was in 2018 at 464.0 units, which also experienced the largest decline of 20.1%. In contrast, 2019 saw the largest increase of 22.0%.

Annual dynamics of production in Finland in kind, 2017-2020, unit

Exports electric hand drills from Finland

Exports in kind, K unit

The market displayed volatility during the observed period. Exports reached their lowest point in 2019 at 10.1 K units, while the highest volume was recorded in 2017, resulting in a 16-fold gap between these years. In 2020, Finland's export volume of electric hand drills stood at 27.7 K units, showing a substantial increase of 175.1% compared to the previous year. The largest decline occurred in 2018 at 83.4%.

Annual dynamics of product's exports from Finland in kind, 2017-2020, K unit

From 2017 to 2020, Russia, Estonia, and Latvia remained the primary buyers of electric hand drills from Finland. Russia accounted for 58.6% of exports in kind, while Estonia and Latvia each contributed 9.2%. Together, these three countries formed 77.0% of Finland's total exports in kind.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Finland in kind, 2017-2020

Exports in value, K $ US

The market showed signs of volatility over the observed period. Export values hit their lowest point in 2018 at 3 440 K $ US and peaked in 2017, with a top-to-bottom ratio of 3.5 times. In 2020, Finland's cross-border shipments of electric hand drills amounted to 4 079 K $ US, reflecting a 3.9% increase from the previous year. The largest decline was recorded in 2018 at 71.4%, while 2019 saw the largest increase of 14.1%.

Annual dynamics of product's exports from Finland in value, 2017-2020, K $ US

Throughout 2017 to 2020, Russia, Latvia, and Estonia remained the key markets for Finland's exports in value terms, collectively accounting for 58.7% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Finland in value, 2017-2020

Imports electric hand drills to Finland

Imports in kind, K unit

The market exhibited an unstable trend throughout the timeframe. Imports reached their lowest point in 2019 at 26.4 K units, while the highest volume was recorded in 2017, reflecting a 13.6-fold gap. In 2020, Finland's import volume of electric hand drills amounted to 326.7 K units, showing a dramatic increase of 1 136.7% over the past year. The largest decline occurred in 2019 at 92.4%.

Annual dynamics of product's imports to Finland in kind, 2017-2020, K unit

From 2017 to 2020, China, Germany, and Norway formed the main group of sources for Finland's imports in kind of electric hand drills. China accounted for 54.8% of imports, Germany for 20.3%, and Norway for 4.8%, with a combined share of 79.9% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, K $ US

In 2020, Finland's imports of electric hand drills reached 32 075 K $ US, reflecting a 9.2% year-over-year decrease. Between 2017 and 2020, imports declined by 2.4%, equating to an annualized rate of 0.8%. The highest import value was recorded in 2018 at 35 330 K $ US, which also saw the largest increase of 7.6%.

Annual dynamics of product's imports to Finland in value, 2017-2020, K $ US

Throughout 2017 to 2020, China, Germany, and Norway played leading roles in Finland's imports in value terms of electric hand drills. China accounted for 52.2% of imports, Germany for 21.0%, and Norway for 6.7%, jointly taking 79.8% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020