Report Update Nov 1, 2024

Colombia - Electric Space Heating Apparatus and Soil Heating Apparatus - Market Analysis, Forecast, Size, Trends and Insights

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Colombia: Electric Heating Equipment Market 2024

Electric Heating Equipment Market Size in Colombia

The Colombian electric heating equipment market dropped notably to $X in 2022, waning by -31% 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). In general, consumption recorded a slight decline. As a result, consumption reached the peak level of $X, and then fell sharply in the following year.

Electric Heating Equipment Exports

Exports from Colombia

In 2022, the amount of electric space heating apparatus and soil heating apparatus exported from Colombia expanded rapidly to X units, picking up by 10% compared with 2021. Overall, exports posted buoyant growth. The growth pace was the most rapid in 2014 when exports increased by 157%. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, electric heating equipment exports contracted to $X in 2022. Over the period under review, exports enjoyed strong growth. The growth pace was the most rapid in 2014 when exports increased by 98% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Ecuador (X units), Guatemala (X units) and the United States (X units) were the main destinations of electric heating equipment exports from Colombia, with a combined 100% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ecuador (with a CAGR of +11.8%), while the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X) remains the key foreign market for electric space heating apparatus and soil heating apparatus exports from Colombia, comprising 85% of total exports. The second position in the ranking was held by Ecuador ($X), with a 9.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Guatemala amounted to +12.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-1.4% per year) and the United States (+4.8% per year).

Export Prices by Country

In 2022, the average electric heating equipment export price amounted to $X per unit, falling by -15.9% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 65% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average 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 Guatemala ($X per unit), while the average price for exports to Ecuador ($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 Guatemala (+2.0%), while the prices for the other major destinations experienced a decline.

Electric Heating Equipment Imports

Imports into Colombia

Electric heating equipment imports into Colombia fell sharply to X units in 2022, which is down by -29.4% compared with the year before. In general, imports, however, showed a temperate increase. The pace of growth was the most pronounced in 2021 with an increase of 230%. As a result, imports reached the peak of X units, and then reduced sharply in the following year.

In value terms, electric heating equipment imports fell sharply to $X in 2022. Over the period under review, imports showed a slight slump. The most prominent rate of growth was recorded in 2021 when imports increased by 168% against the previous year. As a result, imports attained the peak of $X, and then reduced notably in the following year.

Imports by Country

In 2022, China (X units) was the main electric heating equipment supplier to Colombia, with a approx. 97% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +3.1%.

In value terms, China ($X) constituted the largest supplier of electric space heating apparatus and soil heating apparatus to Colombia.

From 2012 to 2022, the average annual growth rate of value from China stood at -1.9%.

Import Prices by Country

In 2022, the average electric heating equipment import price amounted to $X per unit, declining by -2.7% against the previous year. Over the period under review, the import price saw a pronounced slump. The growth pace was the most rapid in 2020 when the average import price increased by 9.6%. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -4.8% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for electric space heating apparatus and soil heating apparatus in the world?

The countries with the highest volumes of in 2021 were China, South Africa and the United States, with a combined 82% share of global consumption.

What are the largest producers of electric space heating apparatus and soil heating apparatus in the world?

China constituted the country with the largest volume of electric heating equipment production, comprising approx. 84% of total volume. It was followed by India, with a 2.4% share of total production. Pakistan ranked third in terms of total production with a 1.7% share.

What are the leading suppliers of electric space heating apparatus and soil heating apparatus to Colombia?

In value terms, China constituted the largest supplier of electric heating equipment to Colombia, comprising 69% of total imports. The second position in the ranking was occupied by the United States, with a 7.3% share of total imports.

What are the leading importers of electric space heating apparatus and soil heating apparatus from Colombia?

In value terms, Guatemala remains the key foreign market for electric heating equipment exports from Colombia, comprising 81% of total exports. The second position in the ranking was occupied by Ecuador, with an 18% share of total exports.

What is the average export price for electric space heating apparatus and soil heating apparatus in Colombia?

In 2021, the average electric heating equipment export price amounted to $185 per unit, waning by -23.6% against the previous year.

What is the average import price for electric space heating apparatus and soil heating apparatus in Colombia?

In 2021, the average electric heating equipment import price amounted to $19 per unit, waning by -21.3% against the previous year.

This report provides an in-depth analysis of the electric heating equipment market in Colombia. 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 27512630 - Electric storage heating radiators
Prodcom 27512650 - Electric radiators, convection heaters and heaters or fires with built-in fans
Prodcom 27512690 - Other electric space heaters

Country coverage:

Colombia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
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. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. 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
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
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
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 In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023