The size of the global sauna and spa market is over three billion euros. Harvia is a global leader in the sauna and spa market. According to the management’s estimate, Harvia’s share of the sauna and spa market has increased during the last few years. In 2024 Harvia’s share of the sauna and spa market was estimated to be 5%, and the company’s share of the sauna heater and sauna component market was estimated to be over 20%. According to Harvia’s estimate, there are approximately 18 million saunas in the world, which generates a significant aftermarket for saunas and sauna heaters. Due to the stable demand that arises from the need to replace sauna heaters regularly, the sauna and spa market has been traditionally resilient to economic downturns. This has been true especially for the more mature sauna markets.
The market for saunas and spas has historically been non-cyclical due to the large stock of saunas existing and in particular the replacement demand arising from the frequent need to replace heaters.
The frequency of heater replacement largely depends on where and how the sauna is used. In hard professional use, such as spas, for example, heaters are often replaced every 3–4 years.
Historically, the sauna market has grown annually by an average of 5% and has witnessed some seasonality with slightly stronger demand in the early and late part of the year and lower demand during the summer months. However, the market growth and seasonality have varied: for example, during the exceptional demand growth during the COVID-19 pandemic, seasonality could hardly be witnessed. Harvia’s management estimates that during the next 5 years, the global sauna market will grow faster than its historical 5% rate, the growth being supported by the increasing awareness of sauna and its health benefits.
The sauna market in Europe has been challenging for more than two years, followed by the Russian invasion of Ukraine and the wider weak economic development. Sluggish economic growth and eroded consumer confidence in many key markets have affected demand across product segments. However, the negative impacts have not been equally strong in all European countries. From the end of 2023 onwards, the market demand has been gradually improving in Continental Europe especially in high-end and professional segments, even if the market has not yet fully recovered. The macroeconomic conditions in Germany, the largest sauna market in Europe, have remained challenging, which has continued to affect the market demand also in the sauna industry. In Northern Europe, continuing headwinds in the construction sector and weak consumer confidence have kept the market environment challenging for long, especially in Finland.
Outside Europe, especially in North America and Asia-Pacific, the sauna market has developed favorably for several years. This positive development continued also in 2024. The strong growth in North America has been heavily supported by the growing awareness of sauna and its health benefits. Especially in traditional and infrared saunas, the positive development has continued despite some weakening in the economic conditions and consumer confidence in 2024. In Asia-Pacific, the characteristics of the sauna market varies significantly between countries, but overall, the market in the region has enjoyed good growth despite some economic challenges in certain key countries, such as China. The demand in market areas outside Europe continues to be skewed towards more high-end products and full solutions, especially compared to Finland, where sauna is seen as an everyday experience and consumers often have significant know-how of saunas and related renovation work. The increase in the popularity of sauna, low but increasing sauna penetration, and resilient high-end demand continue to support market growth in the emerging sauna markets.
