Belgium: Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size in Belgium

For the third year in a row, the Belgian heat exchange unit market recorded growth in sales value, which increased by 153% to $X in 2022. In general, consumption enjoyed strong growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Heat Exchange Unit Production in Belgium

In value terms, heat exchange unit production rose sharply to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 34% against the previous year. Heat exchange unit production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Heat Exchange Unit Exports

Exports from Belgium

In 2022, overseas shipments of heat exchange units decreased by -32.3% to X units, falling for the second consecutive year after two years of growth. Overall, exports saw a abrupt setback. The growth pace was the most rapid in 2020 with an increase of 36% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, heat exchange unit exports shrank notably to $X in 2022. Over the period under review, exports saw a perceptible shrinkage. The growth pace was the most rapid in 2020 with an increase of 39% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units), China (X units) and the Netherlands (X units) were the main destinations of heat exchange unit exports from Belgium, together accounting for 39% of total exports. Austria, the United States, France, India, Turkey, Poland, Italy, Mexico, the United Arab Emirates and the UK lagged somewhat behind, together comprising a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +29.2%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and the Netherlands ($X) appeared to be the largest markets for heat exchange unit exported from Belgium worldwide, together accounting for 42% of total exports. France, Turkey, Italy, Poland, the United States, Austria, the UK, the United Arab Emirates, India and Mexico lagged somewhat behind, together comprising a further 31%.

In terms of the main countries of destination, Austria, with a CAGR of +20.6%, saw the highest rates of growth with regard to 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 heat exchange unit export price stood at $X per unit in 2022, growing by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to India ($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 France (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Exchange Unit Imports

Imports into Belgium

In 2022, imports of heat exchange units into Belgium contracted to X units, stabilizing at the previous year. In general, imports saw a perceptible downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 42%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, heat exchange unit imports shrank to $X in 2022. Over the period under review, imports saw a perceptible setback. The most prominent rate of growth was recorded in 2013 with an increase of 33% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest heat exchange unit supplier to Belgium, with a 35% share of total imports. Moreover, heat exchange unit imports from China exceeded the figures recorded by the second-largest supplier, the Czech Republic (X units), threefold. The third position in this ranking was taken by Sweden (X units), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +28.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+11.6% per year) and Sweden (-2.5% per year).

In value terms, China ($X) constituted the largest supplier of heat exchange units to Belgium, comprising 24% of total imports. The second position in the ranking was taken by Germany ($X), with an 11% share of total imports. It was followed by Italy, with a 9.7% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +29.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-7.9% per year) and Italy (-8.4% per year).

Import Prices by Country

In 2022, the average heat exchange unit import price amounted to $X per unit, dropping by -4.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 26% against the previous year. As a result, import price reached the peak level of $X per unit, and then dropped slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($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 (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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