Estonia: Radiator Market 2025

Radiator Market Size in Estonia

In 2022, the Estonian radiator market increased by 17% to $X, rising for the second year in a row after three years of decline. The market value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Radiator consumption peaked in 2022 and is expected to retain growth in the immediate term.

Radiator Production in Estonia

In value terms, radiator production rose to $X in 2022 estimated in export price. Overall, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 -2.0% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 29%. Radiator production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Radiator Exports

Exports from Estonia

In 2022, after two years of growth, there was significant decline in shipments abroad of radiators for central heating (not electrically heated), when their volume decreased by -14.2% to X tons. In general, exports, however, showed a remarkable increase. The growth pace was the most rapid in 2013 when exports increased by 77%. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, radiator exports rose notably to $X in 2022. Over the period under review, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 75% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Finland (X tons) was the main destination for radiator exports from Estonia, with a 85% share of total exports. Moreover, radiator exports to Finland exceeded the volume sent to the second major destination, Latvia (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Finland totaled +14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+7.4% per year) and Lithuania (+5.3% per year).

In value terms, Finland ($X) remains the key foreign market for radiators for central heating (not electrically heated) exports from Estonia, comprising 77% of total exports. The second position in the ranking was held by Latvia ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Finland totaled +19.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+7.4% per year) and Lithuania (+8.1% per year).

Export Prices by Country

The average radiator export price stood at $X per ton in 2022, increasing by 24% against the previous year. In general, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, radiator export price increased by +51.2% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.

Radiator Imports

Imports into Estonia

In 2022, purchases abroad of radiators for central heating (not electrically heated) increased by 1.5% to X tons, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 23% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, radiator imports rose sharply to $X in 2022. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 42% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Turkey (X tons) constituted the largest radiator supplier to Estonia, accounting for a 63% share of total imports. Moreover, radiator imports from Turkey exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. The Czech Republic (X tons) ranked third in terms of total imports with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey amounted to +14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-4.5% per year) and the Czech Republic (-5.6% per year).

In value terms, Turkey ($X), Poland ($X) and Italy ($X) were the largest radiator suppliers to Estonia, with a combined 81% share of total imports.

Turkey, with a CAGR of +16.8%, recorded 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 2022, the average radiator import price amounted to $X per ton, surging by 8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2021 an increase of 16% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+17.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform