Italy: Electric Water Heater Market 2024

Electric Water Heater Market Size in Italy

The Italian electric water heater market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption showed a strong expansion. Electric water heater consumption peaked in 2022 and is likely to see gradual growth in the near future.

Electric Water Heater Production in Italy

In value terms, electric water heater production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production showed a buoyant expansion. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Electric Water Heater Exports

Exports from Italy

In 2022, approx. X units of electric water heaters and immersion heaters were exported from Italy; with a decrease of -15.4% compared with 2021 figures. Overall, exports, however, showed a remarkable increase. The growth pace was the most rapid in 2017 when exports increased by 100% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, electric water heater exports reduced to $X in 2022. The total export value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 21% against the previous year. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

France (X units) was the main destination for electric water heater exports from Italy, with a 51% share of total exports. Moreover, electric water heater exports to France exceeded the volume sent to the second major destination, Spain (X units), tenfold. Germany (X units) ranked third in terms of total exports with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France stood at +39.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+1.6% per year) and Germany (+7.4% per year).

In value terms, the largest markets for electric water heater exported from Italy were France ($X), Spain ($X) and the United Arab Emirates ($X), with a combined 27% share of total exports. Poland, Germany, Romania, Saudi Arabia, Russia, Belgium, the UK, Libya, the Netherlands and Nigeria lagged somewhat behind, together comprising a further 34%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +28.6%, saw 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 electric water heater export price amounted to $X per unit, surging by 11% against the previous year. Overall, the export price, however, recorded a drastic downturn. The growth pace was the most rapid in 2021 when the average export price increased by 14%. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to France ($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 Russia (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Water Heater Imports

Imports into Italy

In 2022, overseas purchases of electric water heaters and immersion heaters increased by 22% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports posted a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 40%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, electric water heater imports surged to $X in 2022. In general, imports enjoyed a prominent increase. The pace of growth was the most pronounced in 2013 with an increase of 57% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electric water heater to Italy, accounting for a 76% share of total imports. Moreover, electric water heater imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), sixfold. The third position in this ranking was taken by France (X units), with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +15.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.1% per year) and France (+26.8% per year).

In value terms, China ($X) constituted the largest supplier of electric water heaters and immersion heaters to Italy, comprising 52% of total imports. The second position in the ranking was held by France ($X), with a 9.3% share of total imports. It was followed by Germany, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+14.3% per year) and Germany (+6.9% per year).

Import Prices by Country

The average electric water heater import price stood at $X per unit in 2022, increasing by 4.3% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 33% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

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 France ($X per unit), while the price for Germany ($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 (+1.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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