Electric hand tools market in Finland

Earlier Report Observations

The market for electric hand tools in Finland saw considerable expansion from 2018 to 2021, with its total value rising from $83.5 million to $109.4 million. This growth was supported by a strong increase in domestic production, which more than doubled from $26.3 million to $50.8 million, and sustained import levels.

After peaking in 2021, the market value began to contract, falling to $104.6 million in 2022 and then sharply to $64.2 million in 2023. By 2024, the market size declined further to $55.5 million. This period of contraction coincided with a significant 21% year-on-year increase in import prices for power tools, which likely dampened import volumes and contributed to the smaller market value. Concurrently, major manufacturers such as Makita and Bosch launched new cordless tool lines, highlighting a continued industry shift toward battery-powered and environmentally friendly products.

Production electric hand tools in Finland

In value, 2017-2020, K $ US

Finland's electric hand tools production has grown for the third consecutive year. In 2020, output reached 33 518 thousand US dollars, representing an 8.2% increase compared to 2019. From 2017 to 2020, production rose by 38.1%, with a compound annual growth rate of 11.4%.

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

In kind, 2017-2020, K unit

In 2020, Finland produced 113.3 thousand units of electric hand tools, marking a significant 22.5% increase from the previous year. Between 2017 and 2020, production grew by 13.7%, equivalent to an annualized rate of 4.4%.

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

Exports electric hand tools from Finland

Exports in kind, K unit

The market exhibited volatility during the observed period. Exports reached their lowest point in 2019 at 46 thousand units, while the highest volume was recorded in 2017, showing a 20-fold difference between these years. In 2020, Finland's electric hand tools exports amounted to 186 thousand units, a sharp increase of 300.9% compared to 2019. The largest decline occurred in 2018, at 83.3%.

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

From 2017 to 2020, Russia, Belgium, and Estonia were the key partners for Finland's electric hand tools exports in volume terms. Russia accounted for 58.4% of exports, Belgium for 15.9%, and Estonia for 5.2%, together making up 79.5% of total flows.

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, M $ US

Finland's electric hand tools exports have increased for the second consecutive year. In 2020, exports totaled 49.7 million US dollars, up 22.3% from 2019. However, over the period from 2017 to 2020, exports decreased by 34.8%, with a compound annual growth rate of -13.3%. The lowest value was recorded in 2018 at 38.1 million US dollars, with the largest decline that year at 50.0%.

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

Between 2017 and 2020, Belgium, Russia, and the United States were the main buyers of electric hand tools from Finland in value terms. Belgium accounted for 48.6% of exports, Russia for 22.5%, and the United States for 5.3%, together comprising 76.4% of total exports.

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 tools to Finland

Imports in kind, K unit

The market showed signs of volatility over the observed period. Imports hit their lowest point in 2019 at 110 thousand units, while peaking in 2017, with a 14.3-fold gap between these years. In 2020, Finland imported 1 223 thousand units of electric hand tools, an abrupt uptick of 1,014.2% year-over-year. The largest decline was recorded in 2019 at 90.1%.

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

From 2017 to 2020, China, Germany, and Romania were the main sources for Finland's electric hand tools imports in volume terms. China accounted for 49.9% of imports, Germany for 15.6%, and Romania for 12.4%, together making up 77.9% of total 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, M $ US

In 2020, Finland imported 103.1 million US dollars worth of electric hand tools, an 8.2% increase from 2019. Between 2017 and 2020, imports decreased by 6.4%, equating to an annualized rate of -2.2%. The minimum value was recorded in 2019 at 95.3 million US dollars, with the largest decline in 2018 at 13.4%.

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

During 2017–2020, China, Germany, and Romania were the primary markets for Finland's electric hand tools imports in value terms. China accounted for 41.1% of imports, Germany for 20.6%, and Romania for 6.7%, together accounting for 68.5% of total flows.

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

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