Europe: Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size in Europe

The Europe heat exchange unit market totaled $X in 2022, growing by 13% against the previous year. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Heat Exchange Unit Production in Europe

In value terms, heat exchange unit production declined to $X in 2022 estimated in export price. Overall, production, however, showed a slight decrease. The most prominent rate of growth was recorded in 2021 when the production volume increased by 11%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Heat Exchange Unit Exports

Exports in Europe

In 2022, after two years of growth, there was decline in shipments abroad of heat exchange units, when their volume decreased by -0.4% to X units. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 8% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, heat exchange unit exports expanded slightly to $X in 2022. The total export value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2013 with an increase of 12% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Italy (X units) and Germany (X units) represented the main exporters of heat exchange units in Europe, together finishing at approx. 37% of total exports. Sweden (X units) held the next position in the ranking, followed by Hungary (X units), Poland (X units), the Czech Republic (X units), France (X units) and Spain (X units). All these countries together took near 37% share of total exports. The Netherlands (X units), Romania (X units), Slovakia (X units), the UK (X units) and Denmark (X units) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +14.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest heat exchange unit supplying countries in Europe were Germany ($X), Italy ($X) and Sweden ($X), with a combined 43% share of total exports. These countries were followed by France, the UK, Hungary, Poland, Spain, the Czech Republic, the Netherlands, Slovakia, Denmark and Romania, which together accounted for a further 42%.

Romania, with a CAGR of +19.2%, recorded the highest rates of growth with regard to 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

In 2022, the export price in Europe amounted to $X per unit, growing by 4.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2018 an increase of 11%. Over the period under review, the export prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the UK ($X per unit), while Romania ($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 (+6.1%), while the other leaders experienced more modest paces of growth.

Heat Exchange Unit Imports

Imports in Europe

For the third consecutive year, Europe recorded growth in purchases abroad of heat exchange units, which increased by 1.9% to X units in 2022. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 15% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the near future.

In value terms, heat exchange unit imports stood at $X in 2022. The total import value increased at an average annual rate of +3.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 22%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

In 2022, Germany (X units), distantly followed by Italy (X units), France (X units), the UK (X units), Slovakia (X units), Russia (X units) and Poland (X units) were the key importers of heat exchange units, together making up 64% of total imports. The Netherlands (X units), Spain (X units), Austria (X units), Sweden (X units), the Czech Republic (X units) and Belgium (X units) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to heat exchange unit imports into Germany stood at +2.3%. At the same time, Poland (+12.1%), the UK (+6.6%), Spain (+5.9%), the Czech Republic (+5.8%), Slovakia (+4.6%), Sweden (+4.2%), Italy (+3.8%), the Netherlands (+2.4%) and France (+1.4%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in Europe, with a CAGR of +12.1% from 2012-2022. By contrast, Austria (-2.2%), Belgium (-3.5%) and Russia (-5.2%) illustrated a downward trend over the same period. While the share of Poland (+3.4 p.p.), the UK (+2.2 p.p.) and Italy (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Austria (-1.7 p.p.), Belgium (-2.3 p.p.) and Russia (-6.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported heat exchange units in Europe, comprising 23% of total imports. The second position in the ranking was held by Italy ($X), with a 9.3% share of total imports. It was followed by France, with a 9% share.

In Germany, heat exchange unit imports expanded at an average annual rate of +4.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Italy (+6.0% per year) and France (+4.1% per year).

Import Prices by Country

In 2022, the import price in Europe amounted to $X per unit, with an increase of 4.2% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by 7.2%. Over the period under review, import prices hit record highs in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the UK ($X per unit), while Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform