Slovakia: Electric Water Heater Market 2025

Electric Water Heater Market Size in Slovakia

In 2022, the Slovak electric water heater market increased by 49% to $X, rising for the second year in a row after two years of decline. Overall, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +66.9% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Electric Water Heater Production in Slovakia

In value terms, electric water heater production fell to $X in 2022 estimated in export price. In general, production, however, faced a abrupt shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 8.8% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Electric Water Heater Exports

Exports from Slovakia

In 2022, electric water heater exports from Slovakia totaled X units, surging by 9% against 2021. Over the period under review, total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +9.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.4% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 96% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, electric water heater exports dropped slightly to $X in 2022. In general, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2017 when exports increased by 127% against the previous year. The exports peaked at $X in 2021, and then dropped slightly in the following year.

Exports by Country

Germany (X units) was the main destination for electric water heater exports from Slovakia, accounting for a 56% share of total exports. Moreover, electric water heater exports to Germany exceeded the volume sent to the second major destination, the Czech Republic (X units), threefold. Austria (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to +24.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+6.4% per year) and Austria (+24.5% per year).

In value terms, Germany ($X) remains the key foreign market for electric water heaters and immersion heaters exports from Slovakia, comprising 78% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 9.6% share of total exports. It was followed by Austria, with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at +25.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (-1.9% per year) and Austria (+22.3% per year).

Export Prices by Country

The average electric water heater export price stood at $X per unit in 2022, waning by -9.8% against the previous year. Over the period under review, the export price, however, saw a modest expansion. The pace of growth was the most pronounced in 2017 an increase of 102% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: 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 Hungary (+4.2%), while the prices for the other major destinations experienced mixed trend patterns.

Electric Water Heater Imports

Imports into Slovakia

In 2022, supplies from abroad of electric water heaters and immersion heaters increased by 13% to X units, rising for the second year in a row after two years of decline. In general, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +7.8% 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 +22.6% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 63%. Over the period under review, imports hit record highs at X units in 2014; afterwards, it flattened through to 2022.

In value terms, electric water heater imports surged to $X in 2022. Over the period under review, imports recorded a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Bulgaria (X units) and the Czech Republic (X units) were the main suppliers of electric water heater imports to Slovakia, with a combined 74% share of total imports. Germany, Romania and Poland lagged somewhat behind, together accounting for a further 7%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +327.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest electric water heater suppliers to Slovakia were China ($X), Bulgaria ($X) and the Czech Republic ($X), together comprising 27% of total imports. Germany, Romania and Poland lagged somewhat behind, together accounting for a further 7.4%.

Among the main suppliers, Romania, with a CAGR of +224.8%, recorded the highest growth rate of 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

In 2022, the average electric water heater import price amounted to $X per unit, jumping by 47% against the previous year. In general, the import price posted a modest expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Romania ($X per unit), while the price for Bulgaria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+5.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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