Romania: Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size in Romania

The Romanian heat exchange unit market declined slightly to $X in 2022, falling by -2.7% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Heat Exchange Unit Production in Romania

In value terms, heat exchange unit production dropped to $X in 2022 estimated in export price. In general, production showed a mild descent. The most prominent rate of growth was recorded in 2013 with an increase of 118%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Heat Exchange Unit Exports

Exports from Romania

In 2022, after three years of growth, there was decline in overseas shipments of heat exchange units, when their volume decreased by -4.8% to X units. Over the period under review, exports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 72%. The exports peaked at X units in 2021, and then dropped in the following year.

In value terms, heat exchange unit exports reduced to $X in 2022. In general, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 65% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then fell in the following year.

Exports by Country

Hungary (X units) was the main destination for heat exchange unit exports from Romania, accounting for a 58% share of total exports. Moreover, heat exchange unit exports to Hungary exceeded the volume sent to the second major destination, Italy (X units), sevenfold. Germany (X units) ranked third in terms of total exports with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume to Hungary stood at +61.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+2.5% per year) and Germany (+23.2% per year).

In value terms, Hungary ($X) remains the key foreign market for heat exchange units exports from Romania, comprising 56% of total exports. The second position in the ranking was taken by Italy ($X), with an 8% share of total exports. It was followed by Germany, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hungary amounted to +69.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+3.6% per year) and Germany (+28.2% per year).

Export Prices by Country

In 2022, the average heat exchange unit export price amounted to $X per unit, reducing by -2.1% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, heat exchange unit export price increased by +16.6% against 2020 indices. The growth pace was the most rapid in 2018 when the average export price increased by 40% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Spain ($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 Kuwait (+37.3%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Exchange Unit Imports

Imports into Romania

In 2022, purchases abroad of heat exchange units increased by 3.7% to X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports, however, showed a slight shrinkage. The growth pace was the most rapid in 2015 when imports increased by 66% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, heat exchange unit imports expanded notably to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 32% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Italy (X units), Germany (X units) and Sweden (X units) were the main suppliers of heat exchange unit imports to Romania, together comprising 40% of total imports. These countries were followed by Hungary, China, the Czech Republic, Russia, Austria, the Netherlands, Turkey, India, Slovakia and Denmark, which together accounted for a further 48%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +67.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest heat exchange unit suppliers to Romania were Italy ($X), China ($X) and Germany ($X), with a combined 41% share of total imports. Russia, the Czech Republic, Hungary, Sweden, the Netherlands, Slovakia, India, Austria, Turkey and Denmark lagged somewhat behind, together accounting for a further 45%.

India, with a CAGR of +79.4%, saw the highest growth rate of 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

The average heat exchange unit import price stood at $X per unit in 2022, surging by 2.8% against the previous year. Overall, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, heat exchange unit import price increased by +96.2% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 26% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for Sweden ($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 (+23.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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