Hydraulic market in Finland

Earlier Report Observations

The Finnish hydraulic equipment market exhibited considerable fluctuation between 2018 and 2024. It started at 69.8 thousand tons in 2018, bolstered by sustained industrial and construction investment and technological introductions like Mahindra & Mahindra's advanced hydraulic tractor series. The subsequent years saw a sharp drop in 2019, a partial recovery in 2020, another decline in 2021, and a gradual stabilization through 2022 and 2023.

Market volume reached 61.9 thousand tons in 2024, with growth primarily fueled by EU PFAS restrictions that prompted a shift to biodegradable seals and new equipment demand, as well as TotalEnergies' acquisition of Tecoilin enhancing the supply of eco-friendly hydraulic fluids. Concurrently, industry developments including Bosch Rexroth's cyber-physical actuators and Komatsu's excavator updates highlighted the ongoing trend toward automation and energy-efficient solutions.

Production hydraulic in Finland

In value, 2017-2020, K $ US

Finland's hydraulic production value experienced a two-year decline before rebounding in 2020. That year, output reached 7 418 thousand US dollars, marking a 16.3% year-over-year increase. However, looking at the broader period from 2017 to 2020, production actually decreased by 27.9%, with a compound annual growth rate of -10.3%. The lowest value was recorded in 2019 at 6 378 thousand US dollars, which also saw the largest annual decline of 28.2%.

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

In kind, 2017-2020, t

Finland's hydraulic production volume declined for two consecutive years before recovering in 2020. That year, the country produced 59 473 metric tons, representing a significant 16.0% increase compared to the previous year. Over the full 2017-2020 period, production decreased by 27.5%, with a compound annual growth rate of -10.2%. The lowest volume was recorded in 2019 at 51 285 metric tons, which also experienced the largest annual decline of 26.5%.

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

Exports hydraulic from Finland

Exports in kind, kg

Finland's hydraulic exports in 2020 totaled 61 kilograms, remaining broadly stable compared to 2019. However, over the 2018-2020 period, exports increased substantially by 144%, translating to a compound annual growth rate of 34.6%.

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

From 2017 to 2020, Finland's hydraulic export market was extremely concentrated, with Russia alone accounting for 93.0% of total export volumes.

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, $ US

Finland's hydraulic export value in 2020 stood at 49 US dollars, showing no significant change from the previous year. However, between 2018 and 2020, export value increased dramatically by 247.1%, equating to an annualized growth rate of 51.4%.

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

During the 2017-2020 period, Russia served as the dominant market for Finland's hydraulic exports in value terms, accounting for 92.6% of total export revenue.

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

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

Imports hydraulic to Finland

Imports in kind, kg

Finland's hydraulic imports showed noticeable fluctuations between 2018 and 2020. The market experienced significant volatility, with imports peaking in 2020 at 62 450 kilograms and reaching their lowest point in 2018 at 7 200 kilograms, representing an 8.7-fold difference between these years. In 2020, imports increased modestly by 2.2% compared to 2019. The largest annual decline occurred in 2018 at 34.5%, while the most substantial increase was recorded in 2019 at 748.9%.

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

Throughout the 2017-2020 period, Norway and Denmark dominated Finland's hydraulic imports by volume, jointly accounting for 92.3% of total imports, while other countries held much smaller shares.

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, $ US

Finland's hydraulic import market demonstrated considerable volatility between 2018 and 2020. Imports reached their highest value in 2020 at 25 658 US dollars and their lowest in 2018 at 3 086 US dollars, showing an 8.3-fold swing between these years. In 2020, import value surged by 61.0% year-over-year. The largest annual decline occurred in 2018 at 63.9%, while the most significant increase was recorded in 2019 at 416.3%.

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

From 2017 to 2020, Norway and Denmark together accounted for 90.8% of Finland's hydraulic import value, with Norway contributing 48.3% and Denmark 42.5% of total flows, while other partners represented the remaining share.

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

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