Eastern Europe: Heat Pump Market 2024

Heat Pump Market Size in Eastern Europe

In 2021, the East European heat pump market increased by 2.5% to $X, rising for the fifth year in a row after three years of decline. The total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.7% 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 +64.3% against 2016 indices. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Heat Pump Production in Eastern Europe

In value terms, heat pump production shrank to $X in 2021 estimated in export price. Over the period under review, production recorded a prominent expansion. The growth pace was the most rapid in 2018 with an increase of 42%. Over the period under review, production attained the peak level at $X in 2020, and then reduced in the following year.

Heat Pump Exports

Exports in Eastern Europe

In 2021, exports of heat pumps (other than air conditioning machines) in Eastern Europe skyrocketed to X units, with an increase of 86% against the previous year. Overall, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, heat pump exports soared to $X in 2021. Over the period under review, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, the Czech Republic (X units) was the main exporter of heat pumps (other than air conditioning machines), mixing up 49% of total exports. Slovakia (X units) took the second position in the ranking, distantly followed by Poland (X units). All these countries together held near 49% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +44.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X) remains the largest heat pump supplier in Eastern Europe, comprising 58% of total exports. The second position in the ranking was held by Slovakia ($X), with a 21% share of total exports.

In the Czech Republic, heat pump exports expanded at an average annual rate of +44.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Slovakia (+21.1% per year) and Poland (+38.0% per year).

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per unit, remaining constant against the previous year. Over the last nine years, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2013 when the export price increased by 21%. The level of export peaked at $X per unit in 2020, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Czech Republic ($X per unit), while Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+3.7%), while the other leaders experienced a decline in the export price figures.

Heat Pump Imports

Imports in Eastern Europe

Heat pump imports soared to X units in 2021, jumping by 47% compared with 2020 figures. Overall, imports enjoyed a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, heat pump imports surged to $X in 2021. In general, imports enjoyed a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Poland (X units), distantly followed by the Czech Republic (X units), Slovakia (X units), Lithuania (X units) and Hungary (X units) were the largest importers of heat pumps (other than air conditioning machines), together achieving 87% of total imports. The following importers - Romania (X units) and Estonia (X units) - each reached a 6.6% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Slovakia (with a CAGR of +27.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest heat pump importing markets in Eastern Europe were Poland ($X), the Czech Republic ($X) and Slovakia ($X), with a combined 72% share of total imports.

Slovakia, with a CAGR of +25.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per unit in 2021, with an increase of 4.9% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 26% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Romania ($X per unit) and Estonia ($X per unit), while Slovakia ($X per unit) and Hungary ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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