Belgium: Thermostat Market 2025

Thermostat Market Size in Belgium

The Belgian thermostat market shrank to $X in 2021, falling by -11.4% against the previous year. Over the period under review, consumption recorded a perceptible decline. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Thermostat Production in Belgium

In value terms, thermostat production dropped to $X in 2021 estimated in export price. In general, production, however, showed a perceptible contraction. The pace of growth appeared the most rapid in 2015 when the production volume increased by 45%. Thermostat production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Thermostat Exports

Exports from Belgium

In 2021, shipments abroad of thermostats increased by 49% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports saw a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, thermostat exports surged to $X in 2021. In general, total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +91.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 41% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

France (X units), Poland (X units) and Germany (X units) were the main destinations of thermostat exports from Belgium, together comprising 35% of total exports. Italy, Russia, the Netherlands, the United States, Spain, Brazil, Hungary, the UK, Turkey and Ukraine lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2021, the biggest increases were recorded for Ukraine (with a CAGR of +32.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for thermostat exported from Belgium were the Netherlands ($X), France ($X) and Germany ($X), together accounting for 38% of total exports. These countries were followed by Italy, Poland, Russia, the UK, the United States, Spain, Turkey, Brazil, Hungary and Ukraine, which together accounted for a further 36%.

Italy, with a CAGR of +16.9%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average thermostat export price stood at $X per unit in 2021, declining by -9% against the previous year. Overall, the export price recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2020 when the average export price increased by 63%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Ukraine ($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 the Netherlands (+3.6%), while the prices for the other major destinations experienced mixed trend patterns.

Thermostat Imports

Imports into Belgium

In 2021, purchases abroad of thermostats increased by 22% to X units, rising for the third year in a row after five years of decline. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, thermostat imports skyrocketed to $X in 2021. In general, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +43.3% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of thermostat to Belgium, accounting for a 50% share of total imports. Moreover, thermostat imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was held by France (X units), with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-9.2% per year) and France (+0.1% per year).

In value terms, the largest thermostat suppliers to Belgium were Germany ($X), China ($X) and France ($X), with a combined 70% share of total imports. These countries were followed by the Netherlands, Italy, Japan, Denmark and the Czech Republic, which together accounted for a further 20%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +29.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average thermostat import price amounted to $X per unit, growing by 2.2% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 24% against the previous year. The import price peaked in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+16.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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