Denmark: Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size in Denmark

In 2022, the Danish heat exchange unit market decreased by -37.8% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, enjoyed a prominent increase. As a result, consumption reached the peak level of $X, and then contracted notably in the following year.

Heat Exchange Unit Production in Denmark

In value terms, heat exchange unit production contracted to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 54%. Heat exchange unit production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Heat Exchange Unit Exports

Exports from Denmark

After four years of growth, overseas shipments of heat exchange units decreased by -13.2% to X units in 2022. In general, exports showed a noticeable contraction. The growth pace was the most rapid in 2014 when exports increased by 18%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, heat exchange unit exports declined to $X in 2022. Over the period under review, exports continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2021 with an increase of 23% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units), Sweden (X units) and the Netherlands (X units) were the main destinations of heat exchange unit exports from Denmark, with a combined 43% share of total exports. These countries were followed by Finland, the United States, Switzerland, China, Poland, Italy, Norway, Spain, the UK and France, which together accounted for a further 36%.

From 2012 to 2022, 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 +9.8%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for heat exchange units exports from Denmark, comprising 25% of total exports. The second position in the ranking was held by Sweden ($X), with an 11% share of total exports. It was followed by China, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-0.1% per year) and China (-7.1% per year).

Export Prices by Country

In 2022, the average heat exchange unit export price amounted to $X per unit, growing by 2.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 15% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Switzerland ($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 China (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Exchange Unit Imports

Imports into Denmark

In 2022, purchases abroad of heat exchange units decreased by -6% to X units, falling for the second year in a row after five years of growth. In general, imports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 43% against the previous year. Over the period under review, imports reached the peak figure at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, heat exchange unit imports reached $X in 2022. Overall, imports, however, posted a pronounced increase. The pace of growth was the most pronounced in 2018 with an increase of 41% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

China (X units), Slovenia (X units) and Sweden (X units) were the main suppliers of heat exchange unit imports to Denmark, with a combined 70% share of total imports. Italy, Hungary, the Netherlands, the UK, Germany, France, Serbia and Poland lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the biggest increases were recorded for Serbia (with a CAGR of +87.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Slovenia ($X), China ($X) and Sweden ($X) were the largest heat exchange unit suppliers to Denmark, together accounting for 57% of total imports. The UK, Italy, Germany, Hungary, the Netherlands, Poland, France and Serbia lagged somewhat behind, together comprising a further 36%.

In terms of the main suppliers, Serbia, with a CAGR of +88.6%, recorded the highest rates of growth with regard to 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

In 2022, the average heat exchange unit import price amounted to $X per unit, with an increase of 7% against the previous year. Over the period under review, the import price, however, recorded a mild setback. The pace of growth was the most pronounced in 2021 an increase of 15% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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