Russian Federation: Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size in the Russian Federation

In 2022, the Russian heat exchange unit market increased by 3.4% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Heat Exchange Unit Production in the Russian Federation

In value terms, heat exchange unit production rose to $X in 2022 estimated in export price. Over the period under review, the total production indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +37.4% against 2020 indices. The pace of growth was the most pronounced in 2021 when the production volume increased by 33% against the previous year. Heat exchange unit production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Heat Exchange Unit Exports

Exports from the Russian Federation

In 2022, heat exchange unit exports from Russia skyrocketed to X units, increasing by 36% compared with 2021 figures. In general, exports, however, saw a slight decline. The pace of growth was the most pronounced in 2020 when exports increased by 115%. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, heat exchange unit exports reached $X in 2022. Overall, exports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 318% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for heat exchange unit exports from Russia, with a 50% share of total exports. Moreover, heat exchange unit exports to the United States exceeded the volume sent to the second major destination, China (X units), fourfold. Romania (X units) ranked third in terms of total exports with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+15.3% per year) and Romania (+62.9% per year).

In value terms, the United States ($X) remains the key foreign market for heat exchange units exports from Russia, comprising 54% of total exports. The second position in the ranking was taken by China ($X), with a 14% share of total exports. It was followed by Turkey, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +18.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+35.9% per year) and Turkey (+44.1% per year).

Export Prices by Country

The average heat exchange unit export price stood at $X per unit in 2022, shrinking by -21.3% against the previous year. Overall, the export price, however, showed a remarkable increase. The pace of growth was the most pronounced in 2021 when the average export price increased by 317%. As a result, the export price reached the peak level of $X per unit, and then declined remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Romania ($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 Uzbekistan (+42.4%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Exchange Unit Imports

Imports into the Russian Federation

In 2022, overseas purchases of heat exchange units increased by 4.7% to X units, rising for the third consecutive year after two years of decline. Overall, imports, however, showed a abrupt decline. The growth pace was the most rapid in 2017 when imports increased by 80% against the previous year. Over the period under review, imports attained the maximum at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, heat exchange unit imports fell slightly to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt slump. The growth pace was the most rapid in 2017 when imports increased by 41%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of heat exchange unit to Russia, with a 59% share of total imports. Moreover, heat exchange unit imports from China exceeded the figures recorded by the second-largest supplier, Estonia (X units), tenfold. France (X units) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +20.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+15.3% per year) and France (-14.5% per year).

In value terms, the largest heat exchange unit suppliers to Russia were China ($X), Germany ($X) and France ($X), with a combined 47% share of total imports. Sweden, Italy, Estonia, the UK, Turkey, Belarus, Ukraine, Latvia, South Korea and the Czech Republic lagged somewhat behind, together accounting for a further 38%.

Latvia, with a CAGR of +49.7%, saw the highest rates of growth with regard to 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

In 2022, the average heat exchange unit import price amounted to $X per unit, dropping by -5.5% against the previous year. Overall, the import price showed a perceptible curtailment. The most prominent rate of growth was recorded in 2018 when the average import price increased by 32% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+19.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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