Europe: Electric Water Heater Market 2025

Electric Water Heater Market Size in Europe

The Europe electric water heater market amounted to $X in 2022, with an increase of 13% against the previous year. The total consumption indicated strong growth 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, consumption increased by +44.9% against 2020 indices. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Electric Water Heater Production in Europe

In value terms, electric water heater production expanded significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Electric Water Heater Exports

Exports in Europe

After ten years of growth, shipments abroad of electric water heaters and immersion heaters decreased by -6.4% to X units in 2022. Over the period under review, exports, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of 30%. Over the period under review, the exports reached the peak figure at X units in 2021, and then declined in the following year.

In value terms, electric water heater exports reduced slightly to $X in 2022. Total exports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +62.0% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of 18%. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

In 2022, Germany (X units) represented the largest exporter of electric water heaters and immersion heaters, comprising 39% of total exports. Italy (X units) took an 18% share (based on physical terms) of total exports, which put it in second place, followed by the Netherlands (8.4%), Poland (5.2%) and the Czech Republic (4.6%). France (X units), Russia (X units), Belgium (X units), Spain (X units), Bulgaria (X units), Austria (X units) and the UK (X units) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to electric water heater exports from Germany stood at +22.0%. At the same time, Austria (+22.4%), Bulgaria (+14.7%), Spain (+13.9%), France (+11.0%), Russia (+10.0%), Italy (+8.7%), the Netherlands (+7.1%) and Belgium (+3.4%) displayed positive paces of growth. Moreover, Austria emerged as the fastest-growing exporter exported in Europe, with a CAGR of +22.4% from 2012-2022. The Czech Republic and Poland experienced a relatively flat trend pattern. By contrast, the UK (-3.0%) illustrated a downward trend over the same period. While the share of Germany (+27 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the Netherlands (-1.7 p.p.), Belgium (-1.7 p.p.), the UK (-3.8 p.p.), the Czech Republic (-6.3 p.p.) and Poland (-7.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X), Italy ($X) and France ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 43% share of total exports. Bulgaria, Belgium, the Netherlands, the UK, Poland, Russia, the Czech Republic, Austria and Spain lagged somewhat behind, together comprising a further 37%.

In terms of the main exporting countries, Bulgaria, with a CAGR of +17.7%, saw 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 export price in Europe stood at $X per unit in 2022, with an increase of 6.7% against the previous year. In general, the export price, however, continues to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2021 an increase of 6.8% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 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 Bulgaria ($X per unit), while Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+6.4%), while the other leaders experienced more modest paces of growth.

Electric Water Heater Imports

Imports in Europe

In 2022, purchases abroad of electric water heaters and immersion heaters decreased by -1.2% to X units for the first time since 2015, thus ending a six-year rising trend. Overall, imports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2021 with an increase of 19%. As a result, imports attained the peak of X units, and then fell in the following year.

In value terms, electric water heater imports totaled $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 +83.5% against 2015 indices. The pace of growth was the most pronounced in 2021 with an increase of 28% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Germany was the major importer of electric water heaters and immersion heaters in Europe, with the volume of imports reaching X units, which was near 27% of total imports in 2022. The UK (X units) took a 9.4% share (based on physical terms) of total imports, which put it in second place, followed by Poland (8.7%), Russia (6.3%), Italy (6.2%) and the Netherlands (6%). The Czech Republic (X units), Spain (X units), France (X units), Hungary (X units), Belarus (X units), Slovenia (X units) and Slovakia (X units) took a relatively small share of total imports.

Imports into Germany increased at an average annual rate of +22.5% from 2012 to 2022. At the same time, Belarus (+29.1%), Slovenia (+26.1%), Spain (+14.8%), Italy (+13.6%), Poland (+8.5%), the UK (+8.1%), Slovakia (+7.8%), the Netherlands (+6.5%), France (+5.8%), Russia (+3.8%) and the Czech Republic (+3.7%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in Europe, with a CAGR of +29.1% from 2012-2022. Hungary experienced a relatively flat trend pattern. From 2012 to 2022, the share of Germany, Italy, Spain and Belarus increased by +19, +2, +1.6 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X), France ($X) and the UK ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 36% of total imports. Spain, Poland, Russia, Italy, the Netherlands, the Czech Republic, Hungary, Slovakia, Slovenia and Belarus lagged somewhat behind, together accounting for a further 38%.

In terms of the main importing countries, Italy, with a CAGR of +14.5%, recorded 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

In 2022, the import price in Europe amounted to $X per unit, with an increase of 3.1% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when the import price increased by 8.1%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($X per unit), while Belarus ($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