EU: Electric Water Heater Market 2025

Electric Water Heater Market Size in the EU

The EU electric water heater market soared to $X in 2022, jumping by 23% against the previous year. Overall, consumption recorded a resilient increase. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in years to come.

Electric Water Heater Production in the EU

In value terms, electric water heater production skyrocketed to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Electric Water Heater Exports

Exports in the EU

In 2022, after ten years of growth, there was significant decline in overseas shipments of electric water heaters and immersion heaters, when their volume decreased by -6% to X units. In general, exports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 35%. The volume of export peaked at X units in 2021, and then contracted in the following year.

In value terms, electric water heater exports reduced to $X in 2022. Total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 +66.0% against 2015 indices. The pace of growth was the most pronounced in 2021 when exports increased by 21% against the previous year. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

Germany represented the major exporting country with an export of around X units, which reached 42% of total exports. It was distantly followed by Italy (X units), the Netherlands (X units), Poland (X units) and the Czech Republic (X units), together committing a 39% share of total exports. The following exporters - France (X units), Belgium (X units) and Spain (X units) - together made up 8.1% of total exports.

Germany was also the fastest-growing in terms of the electric water heaters and immersion heaters exports, with a CAGR of +22.0% from 2012 to 2022. At the same time, Spain (+13.9%), France (+11.0%), Italy (+8.7%), the Netherlands (+7.1%) and Belgium (+3.4%) displayed positive paces of growth. The Czech Republic and Poland experienced a relatively flat trend pattern. Germany (+27 p.p.) significantly strengthened its position in terms of the total exports, while Belgium, Italy, the Netherlands, the Czech Republic and Poland saw its share reduced by -2.4%, -2.8%, -3%, -8.1% and -9.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X), Italy ($X) and France ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 51% of total exports.

In terms of the main exporting countries, Germany, with a CAGR of +5.2%, recorded the highest growth rate of 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

In 2022, the export price in the European Union amounted to $X per unit, picking up by 6.3% against the previous year. In general, the export price, however, saw a abrupt setback. The pace of growth was the most pronounced in 2021 an increase of 7.8%. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per unit), while Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+4.7%), while the other leaders experienced a decline in the export price figures.

Electric Water Heater Imports

Imports in the EU

In 2022, approx. X units of electric water heaters and immersion heaters were imported in the European Union; with an increase of 2% compared with the previous year. Overall, imports recorded a buoyant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 20% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, electric water heater imports rose modestly to $X in 2022. Total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.3% 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 +92.7% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of 30%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Germany was the main importing country with an import of about X units, which finished at 35% of total imports. Poland (X units) ranks second in terms of the total imports with an 11% share, followed by Italy (7.9%), the Netherlands (7.6%), the Czech Republic (5.4%), Spain (5.4%) and France (5.1%). Hungary (X units), Slovenia (X units), Slovakia (X units), Belgium (X units), Austria (X units) and Greece (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to electric water heater imports into Germany stood at +22.5%. At the same time, Slovenia (+26.1%), Spain (+14.8%), Italy (+13.6%), Poland (+8.5%), Greece (+8.3%), Slovakia (+7.8%), Austria (+6.6%), the Netherlands (+6.5%), France (+5.8%), the Czech Republic (+3.7%) and Belgium (+1.5%) displayed positive paces of growth. Moreover, Slovenia emerged as the fastest-growing importer imported in the European Union, with a CAGR of +26.1% from 2012-2022. Hungary experienced a relatively flat trend pattern. While the share of Germany (+23 p.p.), Italy (+2.1 p.p.), Spain (+1.8 p.p.) and Slovenia (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Poland (-1.8 p.p.), Belgium (-2.3 p.p.), France (-2.5 p.p.), the Netherlands (-3.1 p.p.), the Czech Republic (-4.5 p.p.) and Hungary (-6.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X), France ($X) and Spain ($X) constituted the countries with the highest levels of imports in 2022, together comprising 45% of total imports. Poland, Italy, the Netherlands, the Czech Republic, Belgium, Hungary, Austria, Slovakia, Greece and Slovenia lagged somewhat behind, together comprising a further 38%.

Greece, with a CAGR of +15.8%, saw the highest rates of growth with regard to the value of imports, among 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 the European Union stood at $X per unit in 2022, increasing by 2.8% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible shrinkage. The growth pace was the most rapid in 2021 when the import price increased by 8.2% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($X per unit), while Slovenia ($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 (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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