Czech Republic: Heat Pump Market 2024

Heat Pump Market Size in the Czech Republic

In 2021, the Czech heat pump market decreased by -4.8% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +51.3% against 2017 indices. Over the period under review, the market reached the peak level at $X in 2020, and then contracted in the following year.

Heat Pump Production in the Czech Republic

In value terms, heat pump production shrank to $X in 2021 estimated in export price. Over the period under review, production posted a resilient increase. The growth pace was the most rapid in 2017 when the production volume increased by 206% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then shrank in the following year.

Heat Pump Exports

Exports from the Czech Republic

In 2021, the amount of heat pumps (other than air conditioning machines) exported from the Czech Republic surged to X units, picking up by 138% compared with the previous year. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 157% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, heat pump exports skyrocketed to $X in 2021. Over the period under review, exports saw a significant expansion. The growth pace was the most rapid in 2013 with an increase of 167%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Germany (X units) was the main destination for heat pump exports from the Czech Republic, with a 47% share of total exports. Moreover, heat pump exports to Germany exceeded the volume sent to the second major destination, Italy (X units), fourfold. France (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Germany amounted to +71.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+88.0% per year) and France (+44.7% per year).

In value terms, Germany ($X) remains the key foreign market for heat pumps (other than air conditioning machines) exports from the Czech Republic, comprising 43% of total exports. The second position in the ranking was held by Italy ($X), with a 12% share of total exports. It was followed by Spain, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany totaled +66.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+84.4% per year) and Spain (+85.1% per year).

Export Prices by Country

The average heat pump export price stood at $X per unit in 2021, with a decrease of -11.1% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 18% against the previous year. As a result, the export price attained the peak level of $X per unit, and then dropped in the following year.

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 the United Arab Emirates ($X per unit), while the average price for exports to France ($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 the United Arab Emirates (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Pump Imports

Imports into the Czech Republic

In 2021, heat pump imports into the Czech Republic soared to X units, rising by 44% against the previous year. Over the period under review, imports saw a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, heat pump imports surged to $X in 2021. Overall, imports saw a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Germany (X units) and Sweden (X units) were the main suppliers of heat pump imports to the Czech Republic, together comprising 73% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +17.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and Sweden ($X) were the largest heat pump suppliers to the Czech Republic, with a combined 70% share of total imports.

China, with a CAGR of +18.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average heat pump import price amounted to $X per unit, picking up by 7.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2017 an increase of 17%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, 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 Austria ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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