Report Update Nov 1, 2024

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

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Colombia: Heat Pump Market 2024

Heat Pump Market Size in Colombia

After four years of decline, the Colombian heat pump market increased by 107% to $X in 2021. Over the period under review, consumption continues to indicate a significant increase. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Heat Pump Exports

Exports from Colombia

After two years of growth, shipments abroad of heat pumps (other than air conditioning machines) decreased by -17.5% to X units in 2021. Overall, exports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2020 with an increase of 224% against the previous year. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, heat pump exports contracted significantly to $X in 2021. In general, exports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2015 when exports increased by 196% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Ecuador (X units), Panama (X units) and Peru (X units) were the main destinations of heat pump exports from Colombia.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ecuador (with a CAGR of +24.3%), while the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X) remains the key foreign market for heat pumps (other than air conditioning machines) exports from Colombia, comprising 629% of total exports. The second position in the ranking was taken by Peru ($X), with a 190% share of total exports. It was followed by Panama, with a 138% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Ecuador stood at +34.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+36.2% per year) and Panama (+13.9% per year).

Export Prices by Country

The average heat pump export price stood at $X per unit in 2021, growing by 2.2% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable shrinkage. The growth pace was the most rapid in 2015 an increase of 55%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guatemala ($X per unit), while the average price for exports to Panama ($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 (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Pump Imports

Imports into Colombia

In 2021, purchases abroad of heat pumps (other than air conditioning machines) increased by 66% to X units for the first time since 2016, thus ending a four-year declining trend. Overall, imports showed prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 143% against the previous year. Over the period under review, imports attained the peak figure at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, heat pump imports soared to $X in 2021. Over the period under review, imports continue to indicate a buoyant increase. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States (X units), Italy (X units) and Panama (X units) were the main suppliers of heat pump imports to Colombia, with a combined 70% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +45.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Italy ($X) and Panama ($X) constituted the largest heat pump suppliers to Colombia, together accounting for 62% of total imports. These countries were followed by Canada, China, Mexico, Germany, France, Guatemala and Taiwan (Chinese), which together accounted for a further 13%.

Canada, with a CAGR of +41.2%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average heat pump import price stood at $X per unit in 2021, growing by 77% against the previous year. Overall, the import price continues to indicate a modest increase. The growth pace was the most rapid in 2015 an increase of 97%. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per unit), while the price for Guatemala ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+13.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for heat pumps (other than air conditioning machines) in the world?

The countries with the highest volumes of heat pump consumption in 2020 were China, the United States and India, together comprising 46% of global consumption. Japan, Indonesia, Mexico, Canada, Germany, Democratic Republic of the Congo, South Korea, France, Thailand and Italy lagged somewhat behind, together accounting for a further 30%.

What are the largest producers of heat pumps (other than air conditioning machines) in the world?

China constituted the country with the largest volume of heat pump production, comprising approx. 30% of total volume. Moreover, heat pump production in China exceeded the figures recorded by the second-largest producer, India, threefold. The third position in this ranking was occupied by the United States, with a 9.6% share.

What are the leading suppliers of heat pumps (other than air conditioning machines) to Colombia?

In value terms, the United States constituted the largest supplier of heat pump to Colombia, comprising 70% of total imports. The second position in the ranking was occupied by China, with a 20% share of total imports.

What are the leading importers of heat pumps (other than air conditioning machines) from Colombia?

In value terms, Ecuador remains the key foreign market for heat pump exports from Colombia, comprising 75% of total exports. The second position in the ranking was occupied by Peru, with a 16% share of total exports.

What is the average export price for heat pumps (other than air conditioning machines) in Colombia?

The average heat pump export price stood at $4,118 per unit in 2020, jumping by 166% against the previous year.

What is the average import price for heat pumps (other than air conditioning machines) in Colombia?

The average heat pump import price stood at $1,027 per unit in 2020, falling by -41.4% against the previous year.

This report provides an in-depth analysis of the heat pump 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 28251380 - Heat pumps other than air conditioning machines of HS

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