Slovakia: Electric Heating Equipment Market 2025

Electric Heating Equipment Market Size in Slovakia

The Slovak electric heating equipment market surged to $X in 2022, jumping by 31% against the previous year. In general, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.0% against 2020 indices. Electric heating equipment consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Electric Heating Equipment Production in Slovakia

In value terms, electric heating equipment production skyrocketed to $X in 2022 estimated in export price. Overall, production faced a deep downturn. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Electric Heating Equipment Exports

Exports from Slovakia

After three years of growth, overseas shipments of electric space heating apparatus and soil heating apparatus decreased by -4.4% to X units in 2022. In general, exports showed a perceptible decline. The pace of growth appeared the most rapid in 2016 with an increase of 78%. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, electric heating equipment exports dropped to $X in 2022. Over the period under review, exports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 145%. Over the period under review, the exports reached the maximum at $X in 2021, and then fell in the following year.

Exports by Country

The Czech Republic (X units) was the main destination for electric heating equipment exports from Slovakia, with a 34% share of total exports. Moreover, electric heating equipment exports to the Czech Republic exceeded the volume sent to the second major destination, Hungary (X units), twofold. The third position in this ranking was taken by Ukraine (X units), with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Czech Republic stood at +3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (-8.6% per year) and Ukraine (+100.1% per year).

In value terms, the Czech Republic ($X) remains the key foreign market for electric space heating apparatus and soil heating apparatus exports from Slovakia, comprising 31% of total exports. The second position in the ranking was taken by Ukraine ($X), with a 15% share of total exports. It was followed by Croatia, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value to the Czech Republic totaled +17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+106.5% per year) and Croatia (+64.3% per year).

Export Prices by Country

The average electric heating equipment export price stood at $X per unit in 2022, waning by -10.8% against the previous year. In general, the export price, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2021 an increase of 58% against the previous year. As a result, the export price attained the peak level of $X per unit, and then dropped in the following year.

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 ($X per unit), while the average price for exports to Austria ($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 Germany (+16.9%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Heating Equipment Imports

Imports into Slovakia

Electric heating equipment imports into Slovakia skyrocketed to X units in 2022, jumping by 22% against the year before. Over the period under review, imports saw a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of 72%. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, electric heating equipment imports soared to $X in 2022. In general, imports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2020 with an increase of 61%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest electric heating equipment supplier to Slovakia, accounting for a 55% share of total imports. Moreover, electric heating equipment imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), threefold. The third position in this ranking was taken by Portugal (X units), with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+12.5% per year) and Portugal (+2,618.4% per year).

In value terms, the largest electric heating equipment suppliers to Slovakia were South Korea ($X), China ($X) and Sweden ($X), together accounting for 75% of total imports. Germany, the Czech Republic, Portugal and Ireland lagged somewhat behind, together accounting for a further 15%.

Portugal, with a CAGR of +1,745.8%, saw the highest growth rate of the value of imports, among 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 electric heating equipment import price amounted to $X per unit, remaining stable against the previous year. Over the period under review, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.5% 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 +67.4% against 2018 indices. The pace of growth appeared the most rapid in 2019 when the average import price increased by 37% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2021, and then shrank slightly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+19.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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