Croatia: Thermostat Market 2025

Thermostat Market Size in Croatia

In 2021, the Croatian thermostat market decreased by -48.4% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption showed a abrupt curtailment. As a result, consumption attained the peak level of $X, and then contracted notably in the following year.

Thermostat Production in Croatia

In value terms, thermostat production fell notably to $X in 2021 estimated in export price. In general, production, however, saw a dramatic descent. The most prominent rate of growth was recorded in 2013 when the production volume increased by 211% against the previous year. Thermostat production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Thermostat Exports

Exports from Croatia

In 2021, the amount of thermostats exported from Croatia soared to X units, increasing by 23% against the year before. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 769% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, thermostat exports totaled $X in 2021. In general, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 669%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for thermostat exports from Croatia, with a 74% share of total exports. Moreover, thermostat exports to Germany exceeded the volume sent to the second major destination, Italy (X units), fivefold. The third position in this ranking was held by Turkey (X units), with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +76.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+18.7% per year) and Turkey (-4.5% per year).

In value terms, Germany ($X) remains the key foreign market for thermostats exports from Croatia, comprising 61% of total exports. The second position in the ranking was held by Italy ($X), with a 23% share of total exports. It was followed by Turkey, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value to Germany amounted to +60.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+17.7% per year) and Turkey (+2.4% per year).

Export Prices by Country

The average thermostat export price stood at $X per unit in 2021, reducing by -7.6% against the previous year. Overall, the export price showed a abrupt decrease. The most prominent rate of growth was recorded in 2017 when the average export price increased by 6.5%. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Austria ($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 Turkey (+7.3%), while the prices for the other major destinations experienced mixed trend patterns.

Thermostat Imports

Imports into Croatia

In 2021, overseas purchases of thermostats were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when imports increased by 39%. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, thermostat imports surged to $X in 2021. In general, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 24% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Italy (X units), Germany (X units) and Poland (X units) were the main suppliers of thermostat imports to Croatia, together comprising 57% of total imports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +27.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and Poland ($X) were the largest thermostat suppliers to Croatia, with a combined 55% share of total imports.

Among the main suppliers, Poland, with a CAGR of +29.1%, saw the highest growth rate of 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

The average thermostat import price stood at $X per unit in 2021, dropping by -3% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, thermostat import price increased by +59.6% against 2015 indices. The pace of growth appeared the most rapid in 2019 when the average import price increased by 19%. The import price peaked at $X per unit in 2020, and then contracted in the following year.

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 Denmark ($X per unit), while the price for the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :