Israel: Heat Pump Market 2024

Heat Pump Market Size in Israel

In 2021, the Israeli heat pump market increased by 0.1% to $X, rising for the sixth consecutive year after two years of decline. Over the period under review, consumption enjoyed a resilient expansion. Heat pump consumption peaked in 2021 and is likely to continue growth in the near future.

Heat Pump Production in Israel

In value terms, heat pump production declined modestly to $X in 2021 estimated in export price. Over the period under review, production, however, saw strong growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 49%. Heat pump production peaked at $X in 2020, and then fell modestly in the following year.

Heat Pump Exports

Exports from Israel

In 2021, approx. X units of heat pumps (other than air conditioning machines) were exported from Israel; rising by 16% on 2020 figures. Overall, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 222% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, heat pump exports surged to $X in 2021. Over the period under review, exports showed strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by 266% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X units), Turkey (X units) and Portugal (X units) were the main destinations of heat pump exports from Israel, with a combined 13% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +16.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) emerged as the key foreign market for heat pumps (other than air conditioning machines) exports from Israel, comprising 3.9% of total exports. The second position in the ranking was taken by Portugal ($X), with a 1.6% share of total exports. It was followed by Turkey, with a 1.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Netherlands totaled +11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+526.7% per year) and Turkey (-16.8% per year).

Export Prices by Country

The average heat pump export price stood at $X per unit in 2021, surging by 146% against the previous year. In general, the export price saw a prominent expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Italy ($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 Portugal (+15.4%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Pump Imports

Imports into Israel

For the fourth consecutive year, Israel recorded growth in purchases abroad of heat pumps (other than air conditioning machines), which increased by 4.2% to X units in 2021. Over the period under review, imports recorded a buoyant increase. The growth pace was the most rapid in 2020 with an increase of 71% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, heat pump imports skyrocketed to $X in 2021. Overall, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 43% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, China (X units) constituted the largest supplier of heat pump to Israel, accounting for a 58% share of total imports. Moreover, heat pump imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X units), eightfold. The third position in this ranking was held by France (X units), with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+21.5% per year) and France (+8.5% per year).

In value terms, China ($X) constituted the largest supplier of heat pumps (other than air conditioning machines) to Israel, comprising 57% of total imports. The second position in the ranking was held by Belgium ($X), with a 7% share of total imports. It was followed by France, with a 6.3% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+18.1% per year) and France (+8.7% per year).

Import Prices by Country

In 2021, the average heat pump import price amounted to $X per unit, rising by 16% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 26% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a 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 Poland ($X per unit), while the price for Jordan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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