Brazil: Heat Pump Market 2024

Heat Pump Market Size in Brazil

The Brazilian heat pump market skyrocketed to $X in 2021, surging by 38% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a buoyant expansion. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in years to come.

Heat Pump Exports

Exports from Brazil

In 2021, approx. X units of heat pumps (other than air conditioning machines) were exported from Brazil; waning by -32% compared with 2020 figures. Over the period under review, exports, however, saw measured growth. The pace of growth was the most pronounced in 2016 when exports increased by 859% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, heat pump exports shrank to $X in 2021. Overall, exports, however, continue to indicate a temperate expansion. The most prominent rate of growth was recorded in 2016 with an increase of 473%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Paraguay (X units) and Ecuador (X units) were the main destinations of heat pump exports from Brazil, together comprising 95% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +52.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Paraguay ($X) and Ecuador ($X) were the largest markets for heat pump exported from Brazil worldwide, with a combined 96% share of total exports.

The United States, with a CAGR of +83.6%, recorded the highest growth rate of the value of exports, among 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 heat pump export price stood at $X per unit in 2021, growing by 27% against the previous year. Over the period under review, the export price posted a moderate increase. The most prominent rate of growth was recorded in 2020 an increase of 116% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Costa Rica ($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 Venezuela (+53.9%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Pump Imports

Imports into Brazil

In 2021, the amount of heat pumps (other than air conditioning machines) imported into Brazil skyrocketed to X units, picking up by 39% compared with the year before. Over the period under review, imports enjoyed resilient growth. The growth pace was the most rapid in 2017 when imports increased by 118%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, heat pump imports soared to $X in 2021. Overall, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 119%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X units) constituted the largest heat pump supplier to Brazil, with a 33% share of total imports. Moreover, heat pump imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), fivefold. Japan (X units) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +26.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+75.6% per year) and Japan (+5.8% per year).

In value terms, China ($X) constituted the largest supplier of heat pumps (other than air conditioning machines) to Brazil, comprising 59% of total imports. The second position in the ranking was taken by South Korea ($X), with a 15% share of total imports. It was followed by Japan, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +23.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+62.6% per year) and Japan (+3.0% per year).

Import Prices by Country

In 2021, the average heat pump import price amounted to $X per unit, shrinking by -4.9% against the previous year. Overall, the import price showed a abrupt downturn. The most prominent rate of growth was recorded in 2020 when the average import price increased by 55% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+8.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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