Slovakia: Radiator Market 2024

Radiator Market Size in Slovakia

For the third consecutive year, the Slovak radiator market recorded growth in sales value, which increased by 36% to $X in 2022. Over the period under review, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.5% 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 +82.6% against 2017 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Radiator Production in Slovakia

In value terms, radiator production rose rapidly to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Radiator Exports

Exports from Slovakia

Radiator exports from Slovakia shrank rapidly to X tons in 2022, which is down by -65.3% compared with 2021 figures. Over the period under review, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2017 when exports increased by 49%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, radiator exports dropped rapidly to $X in 2022. Overall, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 88% against the previous year. As a result, the exports reached the peak of $X, and then reduced dramatically in the following year.

Exports by Country

The Czech Republic (X tons), Ukraine (X tons) and Russia (X tons) were the main destinations of radiator exports from Slovakia, together comprising 54% of total exports. Romania, Austria, Kazakhstan, Hungary, Latvia and Poland lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the biggest increases were recorded for Kazakhstan (with a CAGR of 0.0%), while shipments for the other leaders experienced a decline.

In value terms, the Czech Republic ($X), Romania ($X) and Ukraine ($X) appeared to be the largest markets for radiator exported from Slovakia worldwide, with a combined 68% share of total exports.

Romania, with a CAGR of +1.2%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average radiator export price amounted to $X per ton, with an increase of 21% against the previous year. In general, the export price enjoyed a notable expansion. The growth pace was the most rapid in 2021 an increase of 76% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

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 Poland ($X per ton), while the average price for exports to Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+24.2%), while the prices for the other major destinations experienced more modest paces of growth.

Radiator Imports

Imports into Slovakia

In 2022, supplies from abroad of radiators for central heating (not electrically heated) increased by 1% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 24% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, radiator imports expanded slightly to $X in 2022. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 34%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

The Czech Republic (X tons), Germany (X tons) and Turkey (X tons) were the main suppliers of radiator imports to Slovakia, with a combined 83% share of total imports. Poland, Hungary and Italy lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +46.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the Czech Republic ($X) constituted the largest supplier of radiators for central heating (not electrically heated) to Slovakia, comprising 46% of total imports. The second position in the ranking was taken by Germany ($X), with a 19% share of total imports. It was followed by Turkey, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Czech Republic totaled +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+11.8% per year) and Turkey (-3.0% per year).

Import Prices by Country

In 2022, the average radiator import price amounted to $X per ton, with an increase of 1.8% against the previous year. In general, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, radiator import price increased by +25.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 23%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

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 the Czech Republic ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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