Harvia Oyj
Harvia is a global leader in the sauna and spa industry, known for its comprehensive range of sauna heaters, components, and complete sauna solutions. Founded in 1950 in Finland, Harvia has expanded its operations worldwide, offering products in approximately 90 countries. The company has a significant market share, holding around 5% of the global sauna market and over 20% in sauna heaters and components. Harvia's growth has been driven by both organic expansion and strategic acquisitions, making it a prominent player in the wellness sector.
Fiscal year 2025 · change from previous year
Development 2021–2025
Business
Share of revenueIncludes a wide range of heaters for different sauna types.
Turnkey sauna solutions for residential and commercial use.
Products for spa and wellness centers, including steam generators.
Includes sauna stones, lighting, and other accessories.
Prefabricated outdoor and infrared sauna units.
Customers
Harvia serves a diverse range of customers, including individual consumers, commercial spa operators, and wellness centers. The company's products are popular among homeowners looking to enhance their wellness routines with personal saunas. Additionally, Harvia caters to professional sauna builders and contractors who require reliable and high-quality components for their projects. The growing wellness trend globally has increased demand from hotels and resorts seeking to offer premium sauna experiences to their guests. Harvia's strong brand recognition and comprehensive product range make it a preferred choice in the market.
Purchase personal saunas and accessories for home use.
Buy complete sauna solutions and spa products.
Require high-quality sauna components for construction.
Invest in premium saunas to enhance guest experiences.
Strategy
Harvia's strategic priorities focus on expanding its global market share and enhancing its product portfolio through innovation and acquisitions. The company aims to capitalize on the growing wellness trend by offering comprehensive sauna and spa solutions. Harvia is committed to strengthening its presence in North America and Asia-Pacific regions, which are experiencing robust growth. The company also focuses on operational efficiency and sustainability to maintain its competitive edge and profitability.
To increase market share and leverage wellness trends.
To offer comprehensive solutions and stay competitive.
To maintain profitability and competitive edge.
Geography
Harvia operates globally, with a strong presence in Europe, North America, and Asia. The company's headquarters and largest production facility are located in Muurame, Finland. Harvia has expanded its manufacturing capabilities with facilities in the United States, Germany, and China, allowing it to serve key markets more effectively. North America is a significant market, contributing over 35% of the company's revenue. Harvia's global reach and diversified manufacturing locations help mitigate risks associated with regional economic fluctuations.
Risks
Harvia faces several risks, including economic fluctuations, geopolitical tensions, and changes in consumer preferences. The company's global operations expose it to currency exchange risks and potential trade barriers. Geopolitical events, such as the conflict in Ukraine, can impact market conditions and consumer confidence. Additionally, the wellness industry's reliance on discretionary spending makes it vulnerable to economic downturns. Harvia actively manages these risks through strategic planning and operational flexibility.
- Economic DownturnImpact: HighLikelihood: High
Reduces discretionary spending on wellness products.
- Geopolitical TensionsImpact: MediumLikelihood: High
Affects market stability and consumer confidence.
- Currency ExchangeImpact: Medium
Impacts profitability due to global operations.
Accounting
Judgemental itemsImpacts timing of revenue reporting under IFRS 15.
Impact: high
Affects quarterly revenue comparability.
Impact: medium
Impacts financial statements due to global operations.
Impact: medium
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Last updated: 24/09/2026