South Africa: Heat Pump Market 2024

Heat Pump Market Size in South Africa

In 2021, the South African heat pump market decreased by -3.5% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption saw a noticeable decrease. Heat pump consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Heat Pump Exports

Exports from South Africa

After two years of decline, overseas shipments of heat pumps (other than air conditioning machines) increased by 427% to X units in 2021. Overall, exports, however, continue to indicate a mild curtailment. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, heat pump exports skyrocketed to $X in 2021. In general, exports, however, showed a abrupt decline. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Botswana (X units), Zimbabwe (X units) and Namibia (X units) were the main destinations of heat pump exports from South Africa, with a combined 14% share of total exports. These countries were followed by Swaziland, Zambia, Lesotho, Malawi, Democratic Republic of the Congo, Mozambique and Chile, which together accounted for a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malawi (with a CAGR of +6.8%), while the other leaders experienced mixed trend patterns.

In value terms, Botswana ($X), Zimbabwe ($X) and Namibia ($X) were the largest markets for heat pump exported from South Africa worldwide, with a combined 50% share of total exports. Swaziland, Zambia, Lesotho, Malawi, Democratic Republic of the Congo, Mozambique and Chile lagged somewhat behind, together comprising a further 37%.

Among the main countries of destination, Malawi, with a CAGR of +14.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average heat pump export price stood at $X per unit in 2021, which is down by -54.4% against the previous year. Over the period under review, the export price recorded a perceptible decline. The most prominent rate of growth was recorded in 2020 an increase of 75%. As a result, the export price reached the peak level of $X per unit, and then declined remarkably in the following year.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Chile ($X per unit) and Mozambique ($X per unit), while the average price for exports to Namibia ($X per unit) and Zambia ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Swaziland (+19.9%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Pump Imports

Imports into South Africa

In 2021, the amount of heat pumps (other than air conditioning machines) imported into South Africa skyrocketed to X units, surging by 20% against the previous year. In general, imports, however, recorded a perceptible contraction. The pace of growth appeared the most rapid in 2018 with an increase of 73%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, heat pump imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a pronounced descent. The pace of growth was the most pronounced in 2018 when imports increased by 117% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest heat pump supplier to South Africa, with a 41% share of total imports. Moreover, heat pump imports from China exceeded the figures recorded by the second-largest supplier, France (X units), twofold. The United Arab Emirates (X units) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+61.0% per year) and the United Arab Emirates (+13.8% per year).

In value terms, China ($X) constituted the largest supplier of heat pumps (other than air conditioning machines) to South Africa, comprising 62% of total imports. The second position in the ranking was taken by France ($X), with a 28% share of total imports. It was followed by the United Arab Emirates, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+61.8% per year) and the United Arab Emirates (+12.0% per year).

Import Prices by Country

In 2021, the average heat pump import price amounted to $X per unit, growing by 2.5% against the previous year. Over the period under review, the import price, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2017 an increase of 27%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Italy ($X per unit) and France ($X per unit), while the price for the United Arab Emirates ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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