United Kingdom: Electric Heating Equipment Market 2024

Electric Heating Equipment Market Size in the UK

The UK electric heating equipment market contracted slightly to $X in 2022, with a decrease of -3.1% against the previous year. Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +54.6% against 2020 indices. As a result, consumption attained the peak level of $X, and then shrank modestly in the following year.

Electric Heating Equipment Production in the UK

In value terms, electric heating equipment production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2015 when the production volume increased by 41% against the previous year. Electric heating equipment production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Electric Heating Equipment Exports

Exports from the UK

In 2022, shipments abroad of electric space heating apparatus and soil heating apparatus decreased by -11.5% to X units, falling for the third year in a row after three years of growth. Overall, total exports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -29.8% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 27% against the previous year. Over the period under review, the exports reached the maximum at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, electric heating equipment exports expanded slightly to $X in 2022. Over the period under review, exports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2014 when exports increased by 46% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Sweden (X units), Germany (X units) and Ireland (X units) were the main destinations of electric heating equipment exports from the UK, together accounting for 73% of total exports. France, the Netherlands, Australia, China, Spain, the Czech Republic and Norway lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +20.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Germany ($X) and Ireland ($X) appeared to be the largest markets for electric heating equipment exported from the UK worldwide, together comprising 58% of total exports.

Among the main countries of destination, Sweden, with a CAGR of +27.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electric heating equipment export price stood at $X per unit in 2022, picking up by 17% against the previous year. Overall, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electric heating equipment export price increased by +52.1% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of 21%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+23.8%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Heating Equipment Imports

Imports into the UK

In 2022, the amount of electric space heating apparatus and soil heating apparatus imported into the UK dropped to X units, reducing by -10.3% on 2021. Overall, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +20.8% against 2020 indices. The growth pace was the most rapid in 2013 when imports increased by 59% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, electric heating equipment imports dropped modestly to $X in 2022. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 75% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electric heating equipment to the UK, accounting for a 84% share of total imports. It was followed by Poland (X units), with a 2.6% share of total imports. Spain (X units) ranked third in terms of total imports with a 2.6% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-3.5% per year) and Spain (+13.7% per year).

In value terms, China ($X) constituted the largest supplier of electric space heating apparatus and soil heating apparatus to the UK, comprising 67% of total imports. The second position in the ranking was held by Spain ($X), with a 9.6% share of total imports. It was followed by Germany, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+14.2% per year) and Germany (-4.9% per year).

Import Prices by Country

The average electric heating equipment import price stood at $X per unit in 2022, picking up by 7.4% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electric heating equipment import price increased by +76.8% against 2018 indices. The growth pace was the most rapid in 2021 when the average import price increased by 30%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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