Pumps for liquids and liquid elevators market in Finland

Earlier Report Observations

The market for pumps in Finland showed a general upward trend from 2018 to 2022, with its value increasing from $279 million to $344 million. This growth was interrupted by a contraction to $301 million in 2023, before the market recovered to $325 million in 2024.

The recovery in 2024 coincided with the presence of specialized pump manufacturers like DYNASET, which offers pumps designed for demanding fluids and harsh environments, indicating sustained industrial demand for tailored pumping solutions.

Production pumps for liquids and liquid elevators in Finland

In value, 2017-2020, M $ US

Following two years of growth, production of pumps for liquids and liquid elevators in Finland experienced a decline. In 2020, output was valued at 201.1 million US dollars, representing a 2.1% decrease compared to 2019. Over the period from 2017 to 2020, production increased by 8.6%, which translates to an annualized growth rate of 2.8%. The peak value was recorded in 2019 at 205.5 million US dollars, with the largest annual increase of 9.4% also occurring that year.

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

Exports pumps for liquids and liquid elevators from Finland

Exports in kind, t

Market performance showed significant fluctuations during this period. Export volumes of pumps for liquids and liquid elevators from Finland reached their lowest point in 2019 at 302 tonnes, then surged to 6 030 tonnes in 2020, marking a dramatic increase of 1,896.8% compared to the previous year. This created a 20-fold difference between the two years. The largest decline of 94.9% was recorded in 2019.

Annual dynamics of product's exports from Finland in kind, 2017-2020, t

From 2017 to 2020, the geographical structure of exports in kind was highly diversified. Russia accounted for 14.4% of exports in kind, Sweden for 9.5%, and France for 5.1%. Together, these three countries represented only 29.0% of total export flows, while the remaining 71.0% was distributed among numerous smaller partner countries.

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

After two consecutive years of growth, exports of pumps for liquids and liquid elevators from Finland declined. In 2020, exports amounted to 193.6 million US dollars, showing a gradual decrease of 5.7% compared to 2019. Between 2017 and 2020, exports increased by 10.8%, equivalent to an annualized growth rate of 3.5%. The highest value was recorded in 2019 at 205.4 million US dollars, with the largest annual increase of 10.4% also occurring that year.

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

During the 2017–2020 period, exports in value terms of pumps for liquids and liquid elevators from Finland were distributed across a wide range of markets. Russia accounted for 13.3% of exports in value terms, the United States for 8.7%, and Sweden for 7.5%. Collectively, these three countries represented only 29.5% 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 pumps for liquids and liquid elevators to Finland

Imports in kind, t

The import market displayed an unstable trend throughout the timeframe. Import volumes of pumps for liquids and liquid elevators into Finland reached their lowest point in 2019 at 456 tonnes, then jumped to 12 364 tonnes in 2020, reflecting a sharp increase of 2,609.3% compared to the previous year. This resulted in a 27-fold gap between the two years. The largest decline of 96.2% was recorded in 2019.

Annual dynamics of product's imports to Finland in kind, 2017-2020, t

From 2017 to 2020, Germany, China, and Italy remained the leading suppliers of pumps for liquids and liquid elevators to Finland in terms of volume. Germany accounted for 29.0% of imports in kind, China for 21.5%, and Italy for 10.9%. Together, these three countries represented 61.4% of total imports in kind.

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

Imports of pumps for liquids and liquid elevators into Finland declined for the second consecutive year. In 2020, imports totaled 271.4 million US dollars, showing no significant change compared to 2019. Over the period from 2017 to 2020, imports increased by 7.2%, which equates to an annualized growth rate of 2.3%. The peak value was recorded in 2018 at 277.4 million US dollars, with the largest increase of 9.6% occurring that year. The largest decline of 1.8% was recorded in 2019.

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

In the 2017–2020 period, Germany, China, and Italy continued to dominate as the main sources of pumps for liquids and liquid elevators for Finland in value terms. Germany accounted for 38.0% of imports in value terms, China for 8.7%, and Italy for 7.9%. Collectively, these three countries represented 54.6% of total imports in value terms.

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

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