Russian Federation: Heat Pump Market 2024

Heat Pump Market Size in the Russian Federation

The Russian heat pump market declined to $X in 2021, which is down by -11.7% against 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). Overall, consumption recorded a abrupt shrinkage. Heat pump consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Heat Pump Exports

Exports from the Russian Federation

In 2021, overseas shipments of heat pumps (other than air conditioning machines) decreased by -58.7% to X units, falling for the second consecutive year after three years of growth. In general, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 1,175%. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, heat pump exports contracted remarkably to $X in 2021. Overall, exports, however, posted resilient growth. The pace of growth was the most pronounced in 2013 with an increase of 1,806% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belarus (X units), Kazakhstan (X units) and Uzbekistan (X units) were the main destinations of heat pump exports from Russia, together comprising 49% of total exports. These countries were followed by the United States, Ukraine, Kyrgyzstan and Mongolia, which together accounted for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +52.8%), while the other leaders experienced more modest paces of growth.

In value terms, Uzbekistan ($X), Kazakhstan ($X) and Belarus ($X) appeared to be the largest markets for heat pump exported from Russia worldwide, with a combined 52% share of total exports. The United States, Ukraine, Mongolia and Kyrgyzstan lagged somewhat behind, together comprising a further 31%.

The United States, with a CAGR of +101.3%, saw the highest growth rate of 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

In 2021, the average heat pump export price amounted to $X per unit, picking up by 2.5% against the previous year. In general, the export price, however, continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2013 when the average export price increased by 172%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Mongolia ($X per unit), while the average price for exports to Belarus ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+34.8%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Pump Imports

Imports into the Russian Federation

In 2021, after five years of growth, there was significant decline in purchases abroad of heat pumps (other than air conditioning machines), when their volume decreased by -22.6% to X units. In general, imports showed a noticeable downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 93% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, heat pump imports reduced to $X in 2021. Over the period under review, imports showed a abrupt decrease. The pace of growth was the most pronounced in 2020 with an increase of 59% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X units), the Czech Republic (X units) and Poland (X units) were the main suppliers of heat pump imports to Russia, together comprising 62% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +40.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest heat pump suppliers to Russia were the Czech Republic ($X), China ($X) and Poland ($X), with a combined 61% share of total imports.

Among the main suppliers, the Czech Republic, with a CAGR of +43.1%, saw 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 heat pump import price stood at $X per unit in 2021, growing by 15% against the previous year. In general, the import price, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2013 when the average import price increased by 22% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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