Estonia: Hvac Equipment Market 2024

Hvac Equipment Market Size in Estonia

In 2022, the Estonian HVAC equipment market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. Overall, consumption, however, continues to indicate significant growth. As a result, consumption reached the peak level of $X, and then fell rapidly in the following year.

Hvac Equipment Production in Estonia

In value terms, HVAC equipment production skyrocketed to $X in 2022 estimated in export price. Overall, the total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Hvac Equipment Exports

Exports from Estonia

In 2022, exports of HVAC equipment from Estonia surged to X units, rising by X% on 2021 figures. Over the period under review, total exports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, HVAC equipment exports rose markedly to $X in 2022. Overall, total exports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Finland (X units), Sweden (X units) and Russia (X units) were the main destinations of HVAC equipment exports from Estonia, with a combined X% share of total exports. Lithuania, Latvia, Norway, the United States, Denmark, South Korea, Ukraine, Poland and Belarus lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for HVAC equipment exported from Estonia were Sweden ($X), Finland ($X) and Lithuania ($X), with a combined X% share of total exports. Russia, Norway, Denmark, Latvia, Poland, the United States, South Korea, Ukraine and Belarus lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Denmark, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average HVAC equipment export price stood at $X per unit in 2022, declining by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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

Hvac Equipment Imports

Imports into Estonia

In 2022, purchases abroad of HVAC equipment increased by X% to X units, rising for the second year in a row after six years of decline. Over the period under review, imports, however, recorded a noticeable downturn. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, HVAC equipment imports soared to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), the Netherlands (X units) and Germany (X units) were the main suppliers of HVAC equipment imports to Estonia, with a combined X% share of total imports. Finland, Vietnam, Sweden, Poland, Italy, Thailand and Hungary lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) constituted the largest supplier of HVAC equipment to Estonia, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Sweden amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the average HVAC equipment import price amounted to $X per unit, waning by X% against the previous year. Over the period under review, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The import price peaked at $X per unit in 2021, and then reduced dramatically in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform