France: Heat Pump Market 2024

Heat Pump Market Size in France

In 2021, the French heat pump market increased by 223% to $X, rising for the fourth year in a row after two years of decline. Overall, consumption showed a significant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Heat Pump Production in France

In value terms, heat pump production amounted to $X in 2021 estimated in export price. Over the period under review, production enjoyed a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 41% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Heat Pump Exports

Exports from France

In 2021, shipments abroad of heat pumps (other than air conditioning machines) was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when exports increased by 30%. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, heat pump exports soared to $X in 2021. The total export value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2017 when exports increased by 20% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X units), Spain (X units) and Italy (X units) were the main destinations of heat pump exports from France, with a combined 45% share of total exports. These countries were followed by the UK, the Netherlands, Poland, the United States, Belgium, Slovakia, the Czech Republic, Sweden, Lithuania and Switzerland, which together accounted for a further 41%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +22.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Spain ($X) and the UK ($X) constituted the largest markets for heat pump exported from France worldwide, with a combined 43% share of total exports. The Netherlands, Italy, Poland, the United States, Belgium, Sweden, Slovakia, the Czech Republic, Lithuania and Switzerland lagged somewhat behind, together accounting for a further 38%.

The United States, with a CAGR of +28.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average heat pump export price stood at $X per unit in 2021, rising by 6.9% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 7.6%. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+5.2%), while the prices for the other major destinations experienced mixed trend patterns.

Heat Pump Imports

Imports into France

In 2021, overseas purchases of heat pumps (other than air conditioning machines) increased by 84% to X units, rising for the fourth year in a row after two years of decline. In general, imports enjoyed a resilient increase. The growth pace was the most rapid in 2019 with an increase of 88%. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, heat pump imports surged to $X in 2021. Over the period under review, imports posted resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Germany (X units) and Japan (X units) were the main suppliers of heat pump imports to France, together comprising 64% of total imports.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +96.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest heat pump suppliers to France were China ($X), Germany ($X) and Belgium ($X), together comprising 61% of total imports. These countries were followed by Japan, the UK, Italy, Malaysia, the Netherlands and Ireland, which together accounted for a further 30%.

Japan, with a CAGR of +86.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average heat pump import price stood at $X per unit in 2021, picking up by 7.5% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 41% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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