Report Update Nov 1, 2024

Luxembourg - Heat Pumps (Other Than Air Conditioning Machines) - Market Analysis, Forecast, Size, Trends and Insights

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Luxembourg: Heat Pump Market 2024

Heat Pump Market Size in Luxembourg

In 2021, the Luxembourg heat pump market decreased by -0.4% to $X, falling for the third consecutive year after four years of growth. Over the period under review, consumption, however, saw a abrupt descent. Heat pump consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Heat Pump Production in Luxembourg

In value terms, heat pump production stood at less than $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern.

Heat Pump Exports

Exports from Luxembourg

In 2021, exports of heat pumps (other than air conditioning machines) from Luxembourg soared to X units, growing by 161% on 2020 figures. Overall, exports showed a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 187%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, heat pump exports skyrocketed to $X in 2021. Over the period under review, exports showed a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X units) was the main destination for heat pump exports from Luxembourg, with a 127% share of total exports. Moreover, heat pump exports to Turkey exceeded the volume sent to the second major destination, Belgium (X units), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey stood at +689.5%.

In value terms, Turkey ($X) emerged as the key foreign market for heat pumps (other than air conditioning machines) exports from Luxembourg, comprising 87% of total exports. The second position in the ranking was held by Belgium ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Turkey stood at +480.8%.

Export Prices by Country

In 2021, the average heat pump export price amounted to $X per unit, falling by -11.7% against the previous year. Overall, the export price recorded a abrupt setback. The most prominent rate of growth was recorded in 2017 an increase of 100% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to Belgium totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (+4.4%), while the prices for the other major destinations experienced mixed trend patterns.

Heat Pump Imports

Imports into Luxembourg

In 2021, overseas purchases of heat pumps (other than air conditioning machines) decreased by -7.9% to X units, falling for the second year in a row after four years of growth. Over the period under review, imports showed a noticeable shrinkage. The pace of growth was the most pronounced in 2013 when imports increased by 28%. As a result, imports attained the peak of X units. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, heat pump imports dropped to $X in 2021. In general, imports saw a mild setback. The most prominent rate of growth was recorded in 2016 when imports increased by 25% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X units) constituted the largest supplier of heat pump to Luxembourg, accounting for a 58% share of total imports. Moreover, heat pump imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X units), fourfold. France (X units) ranked third in terms of total imports with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+5.6% per year) and France (+10.7% per year).

In value terms, Germany ($X) constituted the largest supplier of heat pumps (other than air conditioning machines) to Luxembourg, comprising 59% of total imports. The second position in the ranking was held by Italy ($X), with a 13% share of total imports. It was followed by Belgium, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-15.9% per year) and Belgium (+1.1% per year).

Import Prices by Country

The average heat pump import price stood at $X per unit in 2021, surging by 6.3% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2014 when the average import price increased by 21% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Belgium ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+8.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for heat pumps (other than air conditioning machines) in the world?

The countries with the highest volumes of heat pump consumption in 2020 were China, the United States and India, with a combined 46% share of global consumption. These countries were followed by Japan, Indonesia, Mexico, Canada, Germany, Democratic Republic of the Congo, South Korea, France, Thailand and Italy, which together accounted for a further 30%.

What are the largest producers of heat pumps (other than air conditioning machines) in the world?

China remains the largest heat pump producing country worldwide, comprising approx. 30% of total volume. Moreover, heat pump production in China exceeded the figures recorded by the second-largest producer, India, threefold. The United States ranked third in terms of total production with a 9.6% share.

What are the leading suppliers of heat pumps (other than air conditioning machines) to Luxembourg?

In value terms, Germany constituted the largest supplier of heat pump to Luxembourg, comprising 51% of total imports. The second position in the ranking was occupied by Italy, with a 19% share of total imports. It was followed by Belgium, with a 13% share.

What are the leading importers of heat pumps (other than air conditioning machines) from Luxembourg?

In value terms, the largest markets for heat pump exported from Luxembourg were Belgium, Turkey and Uzbekistan, together accounting for 84% of total exports.

What is the average export price for heat pumps (other than air conditioning machines) in Luxembourg?

In 2020, the average heat pump export price amounted to $1,675 per unit, reducing by -17.8% against the previous year.

What is the average import price for heat pumps (other than air conditioning machines) in Luxembourg?

The average heat pump import price stood at $2,041 per unit in 2020, dropping by -9.5% against the previous year.

This report provides an in-depth analysis of the heat pump market in Luxembourg. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28251380 - Heat pumps other than air conditioning machines of HS

Country coverage:

Luxembourg

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Luxembourg
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023