Romania: Electric Heating Equipment Market 2024

Electric Heating Equipment Market Size in Romania

In 2022, the Romanian electric heating equipment market increased by 37% to $X, rising for the third year in a row after two years of decline. Overall, consumption posted buoyant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Electric Heating Equipment Production in Romania

In value terms, electric heating equipment production shrank rapidly to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible increase. The most prominent rate of growth was recorded in 2019 with an increase of 666% against the previous year. Electric heating equipment production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Electric Heating Equipment Exports

Exports from Romania

In 2022, electric heating equipment exports from Romania skyrocketed to X units, rising by 20% compared with 2021 figures. Over the period under review, exports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of 51%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, electric heating equipment exports totaled $X in 2022. In general, exports continue to indicate strong growth. The pace of growth was the most pronounced in 2021 with an increase of 40% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Italy (X units), France (X units) and Hungary (X units) were the main destinations of electric heating equipment exports from Romania, together comprising 76% of total exports. Germany, Moldova, Bulgaria, Spain and the UK lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Moldova (with a CAGR of +19.7%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), France ($X) and Germany ($X) were the largest markets for electric heating equipment exported from Romania worldwide, together comprising 84% of total exports. Hungary, Moldova, Spain, Bulgaria and the UK lagged somewhat behind, together comprising a further 9.6%.

Moldova, with a CAGR of +24.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electric heating equipment export price stood at $X per unit in 2022, reducing by -4.2% against the previous year. Overall, the export price continues to indicate a noticeable slump. The growth pace was the most rapid in 2020 when the average export price increased by 24%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Germany ($X per unit), while the average price for exports to Hungary ($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 Bulgaria (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Heating Equipment Imports

Imports into Romania

In 2022, overseas purchases of electric space heating apparatus and soil heating apparatus decreased by -23.9% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, imports continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by 17% against the previous year. Imports peaked at X units in 2021, and then plummeted in the following year.

In value terms, electric heating equipment imports reduced rapidly to $X in 2022. Over the period under review, total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +80.9% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of 56% against the previous year. As a result, imports attained the peak of $X, and then shrank notably in the following year.

Imports by Country

In 2022, China (X units) constituted the largest electric heating equipment supplier to Romania, with a 56% share of total imports. Moreover, electric heating equipment imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), sixfold. Germany (X units) ranked third in terms of total imports with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+7.9% per year) and Germany (-11.5% per year).

In value terms, China ($X) constituted the largest supplier of electric space heating apparatus and soil heating apparatus to Romania, comprising 47% of total imports. The second position in the ranking was held by Bulgaria ($X), with a 7.2% share of total imports. It was followed by Germany, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+4.8% per year) and Germany (-8.5% per year).

Import Prices by Country

The average electric heating equipment import price stood at $X per unit in 2022, growing by 1.9% against the previous year. Over the period under review, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electric heating equipment import price increased by +30.2% against 2018 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 46% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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