Puerto Rico: Heat Pump Market 2024

Heat Pump Market Size in Puerto Rico

The Puerto Rican heat pump market totaled less than $X in 2021, stabilizing at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a relatively flat trend pattern.

Heat Pump Exports

Exports from Puerto Rico

In 2021, exports of heat pumps (other than air conditioning machines) from Puerto Rico amounted to less than X units, stabilizing at 2020 figures. Overall, exports showed a relatively flat trend pattern.

In value terms, heat pump exports amounted to less than $X in 2021. In general, exports saw a relatively flat trend pattern.

Exports by Country

In 2021, China (X units) represented the major exporter of heat pumps (other than air conditioning machines), generating 37% of total exports. France (X units) took the second position in the ranking, followed by Germany (X units), Sweden (X units), the Czech Republic (X units), Italy (X units) and Belgium (X units). All these countries together took approx. 42% share of total exports. The following exporters - Japan (X units), Slovakia (X units), Poland (X units), Spain (X units), Austria (X units) and Ireland (X units) - together made up 12% of total exports.

From 2012 to 2021, average annual rates of growth with regard to heat pump exports from China stood at +24.6%. At the same time, the Czech Republic (+44.6%), Poland (+42.4%), Belgium (+38.5%), Slovakia (+16.8%), Germany (+8.7%), Sweden (+8.6%), Japan (+7.5%), Spain (+7.2%), Austria (+5.3%), Italy (+2.5%) and France (+2.5%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest-growing exporter exported in the world, with a CAGR of +44.6% from 2012-2021. By contrast, Ireland (-39.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, the Czech Republic, Belgium and Poland increased by +25, +4.9, +4 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), France ($X) and Germany ($X) were the countries with the highest levels of exports in 2021, together accounting for 48% of total exports. Sweden, the Czech Republic, Italy, Japan, Belgium, Austria, Slovakia, Poland, Spain and Ireland lagged somewhat behind, together comprising a further 40%.

Among the main exporting countries, the Czech Republic, with a CAGR of +44.3%, recorded 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

The export price in Puerto Rico stood at less than $X per thousand units in 2021, standing approx. at the previous year. Overall, the export price showed a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Austria ($X per thousand units), while China ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+4.1%), while the other leaders experienced more modest paces of growth.

Heat Pump Imports

Imports into Puerto Rico

In 2021, imports of heat pumps (other than air conditioning machines) into Puerto Rico stood at less than X units, remaining constant against the previous year. Overall, imports continue to indicate a relatively flat trend pattern.

In value terms, heat pump imports totaled less than $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern.

Imports by Country

In 2021, France (X units) and Germany (X units) were the main importers of heat pumps (other than air conditioning machines)across the globe, together reaching approx. 31% of total imports. Italy (X units) took the next position in the ranking, followed by Switzerland (X units), Belgium (X units) and Canada (X units). All these countries together held near 22% share of total imports. The following importers - the Netherlands (X units), Poland (X units), Australia (X units), Spain (X units), the UK (X units), Austria (X units) and the Czech Republic (X units) - together made up 24% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Netherlands (with a CAGR of +27.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and Italy ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 38% of total imports. These countries were followed by Switzerland, the Netherlands, Poland, Belgium, the UK, Austria, Spain, the Czech Republic, Australia and Canada, which together accounted for a further 37%.

In terms of the main importing countries, the Netherlands, with a CAGR of +25.4%, 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

The import price in Puerto Rico stood at less than $X per thousand units in 2021, remaining constant against the previous year. In general, the import price saw a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the UK ($X per thousand units), while Canada ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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