Vehicle jacks and hoists market in Finland

Earlier Report Observations

The market for vehicle jacks and hoists in Finland showed considerable volatility from 2018 to 2024. Starting at 44.7 million dollars in 2018, the market size contracted over the next two years, falling to 31.8 million dollars in 2020. A sharp rebound followed in 2021, with the market expanding to 47.3 million dollars, before entering another declining phase and then stabilizing with a slight recovery to 34.8 million dollars in 2024.

The market's significant growth in 2021 was driven by a regulatory expansion of mandatory periodic inspections to cover a broader set of equipment, including concrete pump trucks, shelf lifts, and wind turbine maintenance lifts. This change specifically targeted transport, construction, and auto repair sectors, where vehicle lifts and cranes are essential, creating immediate demand for compliant equipment and likely stimulating new purchases.

In 2024, the market's modest recovery occurred alongside the introduction of new technical standards for inspections, such as EN 13001 and FEM 9.511, which allow for lifecycle-based planning of inspection intervals. Concurrently, the launch of innovative products like the Turbo Lifter jack, offering faster operation and improved comfort, attracted renewed consumer and professional interest, supporting market activity.

Production vehicle jacks and hoists in Finland

In value, 2017-2020, K $ US

Vehicle jack and hoist production in Finland declined for the second consecutive year. In 2020, output was valued at 17 019 thousand US dollars, marking a substantial 11.9% decrease compared to 2019. Production peaked in 2018 at 23 401 thousand US dollars, with the largest annual increase of 26.9% recorded that year. The most significant decline occurred in 2019, when production fell by 17.4%. Overall, between 2017 and 2020, production decreased by 7.7%, equating to an annualized decline of 2.6%.

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

In kind, 2017-2020, unit

In 2020, Finland produced 12 089 units of vehicle jacks and hoists, representing a robust 12.0% year-over-year increase. Production reached its highest level in 2018 at 13 248 units, with the largest annual growth of 12.6% recorded that year. The lowest output was in 2019 at 10 794 units, when production experienced its steepest decline of 18.5%. Over the period from 2017 to 2020, production increased by 2.8%, translating to an annualized growth rate of 0.9%.

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

Exports vehicle jacks and hoists from Finland

Exports in kind, K unit

Export volumes of vehicle jacks and hoists from Finland showed significant volatility during this period. The lowest point was in 2019 at 3.5 thousand units, marking a 66.7% decline from the previous year. Exports then rebounded sharply in 2020 to 9.2 thousand units, a 164.6% year-over-year increase. The peak occurred in 2017, creating a 3.7-fold difference between the highest and lowest years, reflecting an irregular and volatile market environment.

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

From 2017 to 2020, Estonia played a dominant role in Finland's vehicle jack and hoist exports in kind, accounting for 71.8% of total flows. The remaining share was distributed among various other trading partners.

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

Finland's vehicle jack and hoist exports declined for the third consecutive year. In 2020, exports amounted to 1 423 thousand US dollars, showing a robust 10.9% drop compared to 2019. Over the period from 2017 to 2020, exports decreased by 20.9%, equating to an annualized decline of 7.5%.

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

Between 2017 and 2020, Finland's vehicle jack and hoist exports in value terms were distributed across a wide range of partner countries. Estonia accounted for 24.0% of export value, Russia for 15.6%, and the United States for 7.7%. Together, these three countries represented 47.3% 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 vehicle jacks and hoists to Finland

Imports in kind, K unit

Import volumes of vehicle jacks and hoists into Finland experienced noticeable fluctuations. The lowest point was in 2019 at 16.0 thousand units, representing a 90.9% decline from the previous year. Imports then surged in 2020 to 137.4 thousand units, a remarkable 757.3% year-over-year increase. The peak occurred in 2018 at 175.8 thousand units, creating an 11-fold variation between the maximum and minimum years during this period.

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

From 2017 to 2020, China was the dominant source for Finland's vehicle jack and hoist imports in kind, accounting for 76.9% of total flows. The remaining share was distributed among several smaller markets.

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

Vehicle jack and hoist imports into Finland declined for the second consecutive year. In 2020, imports amounted to 16 193 thousand US dollars, marking a 12.9% decrease compared to the previous year. Imports peaked in 2018 at 22 931 thousand US dollars, with the largest annual increase of 20.8% recorded that year. The most significant decline occurred in 2019, when imports fell by 19.0%. Overall, between 2017 and 2020, imports decreased by 14.7%, equating to an annualized decline of 5.2%.

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

Throughout 2017 to 2020, China, Germany, and Italy remained the key sources for Finland's vehicle jack and hoist imports in value terms. China accounted for 31.8% of import value, Germany for 24.9%, and Italy for 13.2%. Together, these three countries represented 69.9% 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