Report Update Nov 1, 2024

Benelux - Heat Pumps (Other Than Air Conditioning Machines) - Market Analysis, Forecast, Size, Trends and Insights

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Benelux: Heat Pump Market 2024

Heat Pump Market Size in Benelux

The Benelux heat pump market expanded remarkably to $X in 2021, with an increase of 9.1% against the previous year. In general, consumption enjoyed a significant expansion. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Heat Pump Production in Benelux

In value terms, heat pump production stood at $X in 2021 estimated in export price. Overall, production posted a prominent expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by 190% against the previous year. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Heat Pump Exports

Exports in Benelux

In 2021, the amount of heat pumps (other than air conditioning machines) exported in Benelux soared to X units, rising by 155% on 2020. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 294% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

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

Exports by Country

Belgium represented the main exporting country with an export of about X units, which recorded 77% of total exports. It was distantly followed by the Netherlands (X units), mixing up a 22% share of total exports.

Belgium was also the fastest-growing in terms of the heat pumps (other than air conditioning machines) exports, with a CAGR of +38.5% from 2012 to 2021. At the same time, the Netherlands (+25.7%) displayed positive paces of growth. While the share of Belgium (+19 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the Netherlands (-17.5 p.p.) displayed negative dynamics.

In value terms, Belgium ($X) remains the largest heat pump supplier in Benelux, comprising 72% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Belgium amounted to +39.0%.

Export Prices by Country

The export price in Benelux stood at $X per unit in 2021, jumping by 22% against the previous year. Overall, the export price, however, showed a slight slump. The level of export peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while Belgium amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+0.3%).

Heat Pump Imports

Imports in Benelux

In 2021, supplies from abroad of heat pumps (other than air conditioning machines) increased by 49% to X units, rising for the fourth year in a row after three years of decline. Over the period under review, imports saw a significant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 97%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, heat pump imports soared to $X in 2021. In general, imports saw a prominent increase. The most prominent rate of growth was recorded in 2018 when imports increased by 69% against the previous year. The level of import peaked in 2021 and is likely to continue growth in years to come.

Imports by Country

In 2021, Belgium (X units) and the Netherlands (X units) represented the key importer of heat pumps (other than air conditioning machines) in Benelux, achieving 99% of total import.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +27.3%).

In value terms, the Netherlands ($X) and Belgium ($X) constituted the countries with the highest levels of imports in 2021.

Among the main importing countries, the Netherlands, with a CAGR of +25.4%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The import price in Benelux stood at $X per unit in 2021, surging by 12% against the previous year. Overall, the import price, however, continues to indicate a mild downturn. The growth pace was the most rapid in 2017 when the import price increased by 28%. Over the period under review, import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while Belgium amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-1.5%).

Source: IndexBox Platform

This report provides an in-depth analysis of the heat pump market in Benelux. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28251380 - Heat pumps other than air conditioning machines of HS

Country coverage:

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Benelux, split by region and country
Trade (exports and imports) in Benelux
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Belgium
- Luxembourg
- Netherlands
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023