Estonia: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Estonia

The Estonian air conditioning machine market contracted rapidly to $X in 2022, which is down by -49.3% against the previous year. In general, consumption, however, saw significant growth. As a result, consumption attained the peak level of $X, and then dropped notably in the following year.

Air Conditioning Machine Production in Estonia

In value terms, air conditioning machine production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw significant growth. The most prominent rate of growth was recorded in 2013 when the production volume increased by 832%. Air conditioning machine production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Air Conditioning Machine Exports

Exports from Estonia

In 2022, overseas shipments of non-window or wall air conditioning machines increased by 4.8% to X units, rising for the second consecutive year after two years of decline. Overall, exports, however, recorded a pronounced setback. The pace of growth was the most pronounced in 2021 when exports increased by 181% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, air conditioning machine exports soared to $X in 2022. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 154% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X units), Russia (X units) and Finland (X units) were the main destinations of air conditioning machine exports from Estonia, together comprising 72% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +92.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for air conditioning machine exported from Estonia were the Netherlands ($X), Finland ($X) and Russia ($X), together comprising 67% of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of +107.7%, 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 air conditioning machine export price stood at $X per unit in 2022, picking up by 11% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the average export price increased by 22% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices failed to regain momentum.

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 Lithuania ($X per unit), while the average price for exports to Sweden ($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 Lithuania (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Air Conditioning Machine Imports

Imports into Estonia

In 2022, overseas purchases of non-window or wall air conditioning machines increased by 21% to X units, rising for the second consecutive year after two years of decline. In general, total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +101.2% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 66%. Imports peaked at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, air conditioning machine imports soared to $X in 2022. Overall, total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +100.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 72%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest air conditioning machine supplier to Estonia, with a 22% share of total imports. Moreover, air conditioning machine imports from China exceeded the figures recorded by the second-largest supplier, Sweden (X units), twofold. The third position in this ranking was taken by Germany (X units), with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+15.0% per year) and Germany (+8.4% per year).

In value terms, Thailand ($X), China ($X) and Sweden ($X) were the largest air conditioning machine suppliers to Estonia, with a combined 39% share of total imports. Germany, Lithuania, Italy, Norway, Slovenia, the Netherlands, Poland, Latvia, Malaysia and France lagged somewhat behind, together comprising a further 23%.

In terms of the main suppliers, the Netherlands, with a CAGR of +26.2%, saw 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

The average air conditioning machine import price stood at $X per unit in 2022, falling by -3.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2020 an increase of 19% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then fell modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform