Austria: Heat Pump Market 2024

Heat Pump Market Size in Austria

In 2021, the Austrian heat pump market increased by 20% to $X, rising for the third year in a row after two years of decline. Overall, consumption continues to indicate a significant increase. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Heat Pump Production in Austria

In value terms, heat pump production fell to $X in 2021 estimated in export price. Over the period under review, the total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +61.7% against 2016 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 19%. As a result, production attained the peak level of $X, and then reduced in the following year.

Heat Pump Exports

Exports from Austria

In 2021, the amount of heat pumps (other than air conditioning machines) exported from Austria totaled X units, surging by 14% against the year before. Overall, total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +32.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 16%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, heat pump exports skyrocketed to $X in 2021. Over the period under review, exports recorded a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X units), Liechtenstein (X units) and Switzerland (X units) were the main destinations of heat pump exports from Austria, with a combined 74% share of total exports. These countries were followed by the Czech Republic, Hungary, Italy, Slovenia, the UK, Poland, France and China, which together accounted for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +98.2%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for heat pumps (other than air conditioning machines) exports from Austria, comprising 46% of total exports. The second position in the ranking was held by Liechtenstein ($X), with a 16% share of total exports. It was followed by Switzerland, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Liechtenstein (+58.4% per year) and Switzerland (+1.1% per year).

Export Prices by Country

The average heat pump export price stood at $X per unit in 2021, growing by 18% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, heat pump export price increased by +80.6% against 2016 indices. The most prominent rate of growth was recorded in 2019 an increase of 30%. The export price peaked in 2021 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 France ($X per unit), while the average price for exports to Slovenia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Pump Imports

Imports into Austria

For the third consecutive year, Austria recorded growth in overseas purchases of heat pumps (other than air conditioning machines), which increased by 19% to X units in 2021. Over the period under review, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 28%. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, heat pump imports surged to $X in 2021. In general, imports enjoyed buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X units) constituted the largest supplier of heat pump to Austria, with a 50% share of total imports. Moreover, heat pump imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), threefold. Sweden (X units) ranked third in terms of total imports with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume from Germany totaled +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+26.0% per year) and Sweden (+13.3% per year).

In value terms, Germany ($X) constituted the largest supplier of heat pumps (other than air conditioning machines) to Austria, comprising 57% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports. It was followed by Sweden, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+29.5% per year) and Sweden (+14.2% per year).

Import Prices by Country

The average heat pump import price stood at $X per unit in 2021, growing by 3.6% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 32%. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Sweden ($X per unit), while the price for Slovenia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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