Europe: Thermostat Market 2024

Thermostat Market Size in Europe

In 2021, the Europe thermostat market increased by 26% 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 +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Thermostat Production in Europe

In value terms, thermostat production declined to $X in 2021 estimated in export price. In general, production, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 when the production volume increased by 10%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Thermostat Exports

Exports in Europe

Thermostat exports stood at X units in 2021, growing by 8.7% on the previous year. Over the period under review, exports, however, recorded a slight decrease. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, thermostat exports surged to $X in 2021. The total export value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Germany (X units), distantly followed by France (X units), Italy (X units), the Czech Republic (X units), Croatia (X units) and Luxembourg (X units) represented the main exporters of thermostats, together comprising 79% of total exports. Spain (X units), Slovenia (X units), Poland (X units), the UK (X units), Slovakia (X units), the Netherlands (X units) and Romania (X units) took a relatively small share of total exports.

Exports from Germany decreased at an average annual rate of -3.5% from 2012 to 2021. At the same time, Croatia (+44.2%), Romania (+10.9%), Poland (+8.3%), Spain (+6.7%), France (+1.4%) and the UK (+1.0%) displayed positive paces of growth. Moreover, Croatia emerged as the fastest-growing exporter exported in Europe, with a CAGR of +44.2% from 2012-2021. By contrast, Italy (-1.2%), the Czech Republic (-1.7%), Slovenia (-3.0%), Slovakia (-3.8%), Luxembourg (-4.1%) and the Netherlands (-17.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Croatia, France and Spain increased by +9.3, +2.9 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest thermostat supplier in Europe, comprising 33% of total exports. The second position in the ranking was taken by Italy ($X), with a 13% share of total exports. It was followed by France, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Germany amounted to +3.4%. In the other countries, the average annual rates were as follows: Italy (+1.8% per year) and France (+1.4% per year).

Export Prices by Country

In 2021, the export price in Europe amounted to $X per unit, rising by 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 the UK ($X per unit), while Luxembourg ($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 (+24.6%), while the other leaders experienced more modest paces of growth.

Thermostat Imports

Imports in Europe

In 2021, thermostat imports in Europe skyrocketed to X units, picking up by 19% on 2020. In general, imports, however, recorded a relatively flat trend pattern. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, thermostat imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany represented the major importer of thermostats in Europe, with the volume of imports finishing at X units, which was near 31% of total imports in 2021. It was distantly followed by Italy (X units), Poland (X units), France (X units), Romania (X units), the Czech Republic (X units), Russia (X units) and the UK (X units), together comprising a 49% share of total imports. The following importers - Spain (X units), Hungary (X units), Austria (X units), Ukraine (X units) and the Netherlands (X units) - each accounted for a 9.2% share of total imports.

Germany experienced a relatively flat trend pattern with regard to volume of imports of thermostats. At the same time, Spain (+6.6%), Austria (+5.9%), Poland (+4.8%), Romania (+4.2%), Ukraine (+3.7%) and France (+1.8%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing importer imported in Europe, with a CAGR of +6.6% from 2012-2021. Russia and the UK experienced a relatively flat trend pattern. By contrast, Hungary (-3.0%), the Czech Republic (-3.2%), Italy (-3.8%) and the Netherlands (-17.4%) illustrated a downward trend over the same period. While the share of Poland (+3.1 p.p.) and Romania (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the Czech Republic (-1.6 p.p.), Italy (-4 p.p.) and the Netherlands (-6.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported thermostats in Europe, comprising 22% of total imports. The second position in the ranking was held by France ($X), with a 10% share of total imports. It was followed by the UK, with a 9.5% share.

In Germany, thermostat imports expanded at an average annual rate of +4.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: France (+5.4% per year) and the UK (+7.0% per year).

Import Prices by Country

The import price in Europe stood at $X per unit in 2021, growing by 2.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.0%. The growth pace was the most rapid in 2017 when the import price increased by 12%. The level of import peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Netherlands ($X per unit), while Romania ($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 (+26.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform