Iraq: Heat Pump Market 2025

Heat Pump Market Size in Iraq

The Iraqi heat pump market soared to $X in 2021, rising by 17% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Heat Pump Exports

Exports from Iraq

In 2021, shipments abroad of heat pumps (other than air conditioning machines) increased by 14% to X units for the first time since 2012, thus ending a eight-year declining trend. Overall, exports, however, faced a dramatic contraction. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, heat pump exports expanded significantly to $X in 2021. Over the period under review, exports, however, recorded a sharp curtailment. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Iran (X units) was the main destination for heat pump exports from Iraq, accounting for a 94% share of total exports. Moreover, heat pump exports to Iran exceeded the volume sent to the second major destination, the Netherlands (X units), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Iran stood at -23.3%.

In value terms, Iran ($X) remains the key foreign market for heat pumps (other than air conditioning machines) exports from Iraq, comprising 107% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Iran amounted to -25.7%.

Export Prices by Country

The average heat pump export price stood at $X per unit in 2021, remaining stable against the previous year. Overall, the export price recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2019 when the average export price increased by 3.2%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Iran ($X per unit), while the average price for exports to the Netherlands stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+44.0%).

Heat Pump Imports

Imports into Iraq

Heat pump imports into Iraq surged to X units in 2021, with an increase of 20% on 2020. Over the period under review, imports posted a modest increase. The most prominent rate of growth was recorded in 2013 when imports increased by 258%. As a result, imports attained the peak of X units. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, heat pump imports surged to $X in 2021. Overall, imports enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2013 with an increase of 248%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Jordan (X units), Kuwait (X units) and the United Arab Emirates (X units) were the main suppliers of heat pump imports to Iraq.

From 2012 to 2021, the biggest increases were recorded for Jordan (with a CAGR of +59.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest heat pump suppliers to Iraq were Jordan ($X), Italy ($X) and France ($X).

Among the main suppliers, Jordan, with a CAGR of +53.6%, recorded the highest growth rate of 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 2021, the average heat pump import price amounted to $X per unit, rising by 6.9% against the previous year. In general, the import price showed a mild increase. The growth pace was the most rapid in 2014 an increase of 64% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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 Italy ($X per unit), while the price for Kuwait ($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 United Arab Emirates (-2.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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