Indonesia: Heat Pump Market 2024

Heat Pump Market Size in Indonesia

For the third consecutive year, the Indonesian heat pump market recorded decline in sales value, which decreased by -31.8% to $X in 2021. In general, consumption continues to indicate a abrupt contraction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Heat Pump Exports

Exports from Indonesia

In 2021, exports of heat pumps (other than air conditioning machines) from Indonesia contracted dramatically to X units, with a decrease of -96.7% against 2020. In general, exports saw a sharp descent. The growth pace was the most rapid in 2017 with an increase of 138%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, heat pump exports fell rapidly to $X in 2021. Over the period under review, exports continue to indicate a sharp slump. The pace of growth was the most pronounced in 2017 with an increase of 25%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

France (X units) was the main destination for heat pump exports from Indonesia, accounting for a 4,550% share of total exports. Moreover, heat pump exports to France exceeded the volume sent to the second major destination, Bangladesh (X units), fivefold. Sri Lanka (X units) ranked third in terms of total exports with a 750% share.

From 2012 to 2021, the average annual growth rate of volume to France totaled +52.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (-3.3% per year) and Sri Lanka (+7.2% per year).

In value terms, France ($X) remains the key foreign market for heat pumps (other than air conditioning machines) exports from Indonesia, comprising 13,623% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 6,778% share of total exports. It was followed by Sri Lanka, with a 3,204% share.

From 2012 to 2021, the average annual rate of growth in terms of value to France totaled +47.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (-3.1% per year) and Sri Lanka (+1.9% per year).

Export Prices by Country

The average heat pump export price stood at $X per unit in 2021, declining by -74.8% against the previous year. Overall, the export price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when the average export price increased by 38%. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bangladesh ($X per unit), while the average price for exports to France ($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 Philippines (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Pump Imports

Imports into Indonesia

In 2021, imports of heat pumps (other than air conditioning machines) into Indonesia dropped dramatically to X units, declining by -31.9% against the previous year's figure. Over the period under review, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2013 when imports increased by 111% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, heat pump imports reduced to $X in 2021. Overall, imports showed a deep slump. The pace of growth was the most pronounced in 2016 with an increase of 82%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest heat pump supplier to Indonesia, accounting for a 53% share of total imports. Moreover, heat pump imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), fourfold. The third position in this ranking was held by Australia (X units), with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+30.1% per year) and Australia (-25.3% per year).

In value terms, China ($X) constituted the largest supplier of heat pumps (other than air conditioning machines) to Indonesia, comprising 41% of total imports. The second position in the ranking was held by Japan ($X), with a 16% share of total imports. It was followed by the Netherlands, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from China stood at -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-2.8% per year) and the Netherlands (+31.0% per year).

Import Prices by Country

In 2021, the average heat pump import price amounted to $X per unit, surging by 39% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, heat pump import price increased by +70.1% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by 65%. As a result, import price reached the peak level of $X per unit; afterwards, it flattened through to 2021.

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 South Korea ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+31.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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