Ireland: Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size in Ireland

In 2022, the Irish heat exchange unit market decreased by -21.5% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, enjoyed a resilient expansion. Over the period under review, the market hit record highs at $X in 2021, and then fell remarkably in the following year.

Heat Exchange Unit Production in Ireland

In value terms, heat exchange unit production dropped to $X in 2022 estimated in export price. Overall, production recorded a abrupt descent. The most prominent rate of growth was recorded in 2021 when the production volume increased by 4.5%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Heat Exchange Unit Exports

Exports from Ireland

Heat exchange unit exports from Ireland totaled X units in 2022, growing by 9.8% against 2021. Over the period under review, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 148% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, heat exchange unit exports surged to $X in 2022. Overall, exports recorded a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 238%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X units) was the main destination for heat exchange unit exports from Ireland, with a 66% share of total exports. Moreover, heat exchange unit exports to the UK exceeded the volume sent to the second major destination, Germany (X units), threefold. The third position in this ranking was held by the United States (X units), with a 2.2% share.

From 2012 to 2022, the average annual growth rate of volume to the UK amounted to +53.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+64.2% per year) and the United States (+11.9% per year).

In value terms, the UK ($X), Germany ($X) and the United States ($X) appeared to be the largest markets for heat exchange unit exported from Ireland worldwide, together accounting for 83% of total exports.

In terms of the main countries of destination, the UK, with a CAGR of +62.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average heat exchange unit export price amounted to $X per unit, increasing by 22% against the previous year. Overall, the export price recorded a strong increase. The pace of growth appeared the most rapid in 2013 when the average export price increased by 101%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Portugal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+19.9%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Exchange Unit Imports

Imports into Ireland

In 2022, the amount of heat exchange units imported into Ireland shrank notably to X units, with a decrease of -22.9% compared with 2021. Overall, imports, however, continue to indicate strong growth. The pace of growth was the most pronounced in 2018 when imports increased by 108%. Over the period under review, imports reached the maximum at X units in 2021, and then dropped dramatically in the following year.

In value terms, heat exchange unit imports fell notably to $X in 2022. Over the period under review, imports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 146% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then declined remarkably in the following year.

Imports by Country

The Netherlands (X units), the UK (X units) and the United States (X units) were the main suppliers of heat exchange unit imports to Ireland, with a combined 49% share of total imports. Italy, Turkey, Poland, Germany, the Czech Republic, Sweden, China, Taiwan (Chinese), Austria and Denmark lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +72.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), the United States ($X) and the Netherlands ($X) were the largest heat exchange unit suppliers to Ireland, together accounting for 48% of total imports. These countries were followed by Poland, Germany, the Czech Republic, Italy, China, Sweden, Taiwan (Chinese), Turkey, Austria and Denmark, which together accounted for a further 40%.

China, with a CAGR of +63.7%, 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 exchange unit import price stood at $X per unit in 2022, increasing by 5.7% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average import price increased by 33% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+15.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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