Portugal: Thermostat Market 2025

Thermostat Market Size in Portugal

After two years of decline, the Portuguese thermostat market increased by 31% to $X in 2021. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Thermostat Exports

Exports from Portugal

In 2021, shipments abroad of thermostats increased by 420% to X units, rising for the third consecutive year after two years of decline. Over the period under review, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, thermostat exports skyrocketed to $X in 2021. Overall, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X units) was the main destination for thermostat exports from Portugal, accounting for a 61% share of total exports. Moreover, thermostat exports to the Netherlands exceeded the volume sent to the second major destination, Germany (X units), fourfold. The UK (X units) ranked third in terms of total exports with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands amounted to +116.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+22.3% per year) and the UK (+74.2% per year).

In value terms, the Netherlands ($X) emerged as the key foreign market for thermostats exports from Portugal, comprising 65% of total exports. The second position in the ranking was held by Germany ($X), with a 15% share of total exports. It was followed by the UK, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Netherlands stood at +145.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+32.8% per year) and the UK (+61.1% per year).

Export Prices by Country

The average thermostat export price stood at $X per unit in 2021, picking up by 28% against the previous year. Overall, export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the average export price increased by 76% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Angola ($X per unit), while the average price for exports to Hungary ($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 the Netherlands (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Thermostat Imports

Imports into Portugal

In 2021, supplies from abroad of thermostats was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, saw a slight decrease. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, thermostat imports soared to $X in 2021. Over the period under review, total imports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X units), China (X units) and Spain (X units) were the main suppliers of thermostat imports to Portugal, with a combined 77% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +10.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Germany ($X) and Italy ($X) constituted the largest thermostat suppliers to Portugal, together comprising 65% of total imports. China, the Netherlands and France lagged somewhat behind, together accounting for a further 24%.

Among the main suppliers, China, with a CAGR of +10.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average thermostat import price amounted to $X per unit, falling by -23.3% against the previous year. Overall, import price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 an increase of 24%. The import price peaked at $X per unit in 2020, and then fell dramatically in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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