Romania: Electric Water Heater Market 2024

Electric Water Heater Market Size in Romania

In 2022, the Romanian electric water heater market decreased by -0.2% to $X, falling for the second consecutive year after five years of growth. The market value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Electric water heater consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Electric Water Heater Production in Romania

In value terms, electric water heater production surged to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 67% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Electric Water Heater Exports

Exports from Romania

After three years of growth, overseas shipments of electric water heaters and immersion heaters decreased by -29.2% to X units in 2022. In general, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 189%. Over the period under review, the exports reached the maximum at X units in 2021, and then reduced notably in the following year.

In value terms, electric water heater exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 204%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

The Netherlands (X units) was the main destination for electric water heater exports from Romania, accounting for a 37% share of total exports. Moreover, electric water heater exports to the Netherlands exceeded the volume sent to the second major destination, Poland (X units), threefold. The third position in this ranking was taken by Slovenia (X units), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands stood at +223.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+169.3% per year) and Slovenia (+140.9% per year).

In value terms, the largest markets for electric water heater exported from Romania were the Netherlands ($X), Germany ($X) and Italy ($X), with a combined 73% share of total exports.

The Netherlands, with a CAGR of +286.0%, recorded 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 water heater export price stood at $X per unit in 2022, surging by 71% against the previous year. In general, the export price, however, showed a pronounced decrease. The export price peaked 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Slovenia ($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 Netherlands (+19.2%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Water Heater Imports

Imports into Romania

In 2022, supplies from abroad of electric water heaters and immersion heaters decreased by -15.1% to X units, falling for the second year in a row after three years of growth. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 18%. Imports peaked at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, electric water heater imports declined modestly to $X in 2022. In general, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +88.6% against 2013 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 19% against the previous year. As a result, imports attained the peak of $X, and then fell slightly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electric water heater to Romania, with a 52% share of total imports. Moreover, electric water heater imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. Bulgaria (X units) ranked third in terms of total imports with an 11% 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: Italy (+1.5% per year) and Bulgaria (+1.6% per year).

In value terms, the largest electric water heater suppliers to Romania were Italy ($X), Bulgaria ($X) and China ($X), together accounting for 79% of total imports. Germany, Poland, Hungary and Turkey lagged somewhat behind, together comprising a further 7.4%.

Among the main suppliers, Turkey, with a CAGR of +31.7%, recorded the highest rates of growth with regard to 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 average electric water heater import price stood at $X per unit in 2022, growing by 15% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electric water heater import price increased by +36.8% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 27% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Bulgaria ($X per unit), while the price for China ($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 (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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