Europe: Electric Heating Radiator Market 2024

Electric Heating Radiator Market Size in Europe

In 2021, the Europe electric heating radiator market increased by 27% to $X for the first time since 2017, thus ending a three-year declining trend. The total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Electric Heating Radiator Production in Europe

In value terms, electric heating radiator production surged to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a mild setback. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Electric Heating Radiator Exports

Exports in Europe

In 2021, approx. X units of electric storage heating radiators were exported in Europe; with an increase of 14% against 2020. In general, exports saw a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 39%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, electric heating radiator exports surged to $X in 2021. Total exports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +88.9% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Lithuania prevails in exports structure, reaching X units, which was approx. 65% of total exports in 2021. Germany (X units) took a 6.6% share (based on physical terms) of total exports, which put it in second place, followed by Spain (5.2%). The UK (X units), the Netherlands (X units), Greece (X units), Sweden (X units), Belgium (X units), Hungary (X units) and Italy (X units) held a minor share of total exports.

Exports from Lithuania increased at an average annual rate of +12.2% from 2012 to 2021. At the same time, Hungary (+71.2%), Belgium (+27.0%), Greece (+20.4%), the Netherlands (+18.5%), Spain (+6.6%) and Italy (+2.9%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing exporter exported in Europe, with a CAGR of +71.2% from 2012-2021. The UK experienced a relatively flat trend pattern. By contrast, Germany (-4.0%) and Sweden (-4.1%) illustrated a downward trend over the same period. While the share of Lithuania (+21 p.p.), the Netherlands (+2.1 p.p.), Hungary (+2 p.p.) and Belgium (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the UK (-3.7 p.p.), Sweden (-3.9 p.p.) and Germany (-11.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Lithuania ($X), Germany ($X) and Spain ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 63% share of total exports. Belgium, the UK, Italy, the Netherlands, Greece, Sweden and Hungary lagged somewhat behind, together comprising a further 27%.

Belgium, with a CAGR of +39.6%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Europe stood at $X per unit in 2021, rising by 10% against the previous year. In general, the export price, however, recorded a abrupt decrease. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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 Belgium ($X per unit), while Hungary ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+9.9%), while the other leaders experienced more modest paces of growth.

Electric Heating Radiator Imports

Imports in Europe

In 2021, approx. X units of electric storage heating radiators were imported in Europe; picking up by 22% on the year before. In general, imports posted prominent growth. The pace of growth was the most pronounced in 2014 when imports increased by 45% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, electric heating radiator imports skyrocketed to $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +10.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +148.3% against 2012 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The UK represented the main importer of electric storage heating radiators in Europe, with the volume of imports amounting to X units, which was near 43% of total imports in 2021. France (X units) held the second position in the ranking, distantly followed by Norway (X units). All these countries together held near 24% share of total imports. Sweden (X units), Portugal (X units), Slovakia (X units), Germany (X units), the Netherlands (X units), Belgium (X units), Lithuania (X units) and Greece (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to electric heating radiator imports into the UK stood at +35.6%. At the same time, Slovakia (+60.4%), Lithuania (+39.3%), Norway (+24.9%), France (+21.9%), Portugal (+19.5%), Germany (+13.0%), Belgium (+10.6%) and the Netherlands (+6.3%) displayed positive paces of growth. Moreover, Slovakia emerged as the fastest-growing importer imported in Europe, with a CAGR of +60.4% from 2012-2021. Greece experienced a relatively flat trend pattern. By contrast, Sweden (-4.9%) illustrated a downward trend over the same period. While the share of the UK (+35 p.p.), France (+8.4 p.p.), Norway (+3.5 p.p.), Slovakia (+3.1 p.p.) and Lithuania (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the Netherlands (-2.2 p.p.), Greece (-4.5 p.p.) and Sweden (-15.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the UK ($X) constitutes the largest market for imported electric storage heating radiators in Europe, comprising 33% of total imports. The second position in the ranking was held by France ($X), with a 17% share of total imports. It was followed by Germany, with a 7% share.

In the UK, electric heating radiator imports increased at an average annual rate of +23.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: France (+15.0% per year) and Germany (+14.7% per year).

Import Prices by Country

In 2021, the import price in Europe amounted to $X per unit, with an increase of 5.2% against the previous year. Over the period under review, the import price, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2013 when the import price increased by 11%. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+13.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform