Portugal: Electric Water Heater Market 2025

Electric Water Heater Market Size in Portugal

The Portuguese electric water heater market reduced notably to $X in 2022, with a decrease of -61.9% against the previous year. In general, consumption saw a abrupt curtailment. Electric water heater consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Electric Water Heater Production in Portugal

In value terms, electric water heater production shrank significantly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -31.2% against 2017 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 62% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Electric Water Heater Exports

Exports from Portugal

Electric water heater exports from Portugal shrank notably to X units in 2022, with a decrease of -21.5% compared with 2021 figures. Over the period under review, exports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 206% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, electric water heater exports dropped notably to $X in 2022. Overall, exports, however, saw a resilient increase. The pace of growth was the most pronounced in 2017 when exports increased by 99% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for electric water heater exports from Portugal, with a 57% share of total exports. Moreover, electric water heater exports to Germany exceeded the volume sent to the second major destination, Spain (X units), fourfold. The Netherlands (X units) ranked third in terms of total exports with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume to Germany totaled +113.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+9.6% per year) and the Netherlands (+28.8% per year).

In value terms, Germany ($X) remains the key foreign market for electric water heaters and immersion heaters exports from Portugal, comprising 52% of total exports. The second position in the ranking was held by Spain ($X), with a 12% share of total exports. It was followed by the Netherlands, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +104.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+11.1% per year) and the Netherlands (+38.9% per year).

Export Prices by Country

In 2022, the average electric water heater export price amounted to $X per unit, waning by -12.3% against the previous year. Overall, the export price recorded a slight decrease. The pace of growth was the most pronounced in 2019 an increase of 36%. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Ireland ($X per unit), while the average price for exports to Denmark ($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 UK (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Water Heater Imports

Imports into Portugal

After six years of growth, purchases abroad of electric water heaters and immersion heaters decreased by -21.1% to X units in 2022. Over the period under review, imports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2013 when imports increased by 60%. Over the period under review, imports reached the peak figure at X units in 2021, and then dropped notably in the following year.

In value terms, electric water heater imports dropped slightly to $X in 2022. Overall, imports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2018 when imports increased by 33% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then declined in the following year.

Imports by Country

China (X units), Spain (X units) and Germany (X units) were the main suppliers of electric water heater imports to Portugal, together comprising 73% of total imports. The Netherlands, Egypt, Italy, Bulgaria and France lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +101.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), China ($X) and Germany ($X) appeared to be the largest electric water heater suppliers to Portugal, with a combined 65% share of total imports. Egypt, Bulgaria, Italy, the Netherlands and France lagged somewhat behind, together accounting for a further 27%.

Egypt, with a CAGR of +96.7%, saw the highest rates of growth with regard to 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

In 2022, the average electric water heater import price amounted to $X per unit, surging by 23% against the previous year. Overall, the import price, however, recorded a slight decrease. The pace of growth appeared the most rapid in 2017 when the average import price increased by 24% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Egypt ($X per unit), while the price for the Netherlands ($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 (+6.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :