Spain: Electric Heating Equipment Market 2024

Electric Heating Equipment Market Size in Spain

The Spanish electric heating equipment market fell significantly to $X in 2022, shrinking by -17.8% against the previous year. Overall, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 +20.2% against 2020 indices. As a result, consumption attained the peak level of $X, and then fell significantly in the following year.

Electric Heating Equipment Production in Spain

In value terms, electric heating equipment production stood at $X in 2022 estimated in export price. In general, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.3% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 49%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Electric Heating Equipment Exports

Exports from Spain

In 2022, exports of electric space heating apparatus and soil heating apparatus from Spain surged to X units, with an increase of 29% compared with 2021 figures. In general, exports continue to indicate prominent growth. The growth pace was the most rapid in 2013 with an increase of 39%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, electric heating equipment exports expanded modestly to $X in 2022. Over the period under review, exports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2021 when exports increased by 27% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

France (X units), Germany (X units) and Portugal (X units) were the main destinations of electric heating equipment exports from Spain, with a combined 63% share of total exports. The UK, Italy, Ireland and the Netherlands lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +30.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), France ($X) and Portugal ($X) were the largest markets for electric heating equipment exported from Spain worldwide, together comprising 72% of total exports. Germany, Ireland, Italy and the Netherlands lagged somewhat behind, together accounting for a further 18%.

Ireland, with a CAGR of +23.9%, recorded the highest rates of growth with regard to 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 2022, the average electric heating equipment export price amounted to $X per unit, dropping by -20.9% against the previous year. Over the period under review, the export price saw a noticeable downturn. The pace of growth was the most pronounced in 2017 an increase of 12%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ireland ($X per unit), while the average price for exports to Germany ($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 Portugal (-0.4%), while the prices for the other major destinations experienced a decline.

Electric Heating Equipment Imports

Imports into Spain

Electric heating equipment imports into Spain declined significantly to X units in 2022, with a decrease of -22.2% on the previous year's figure. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.6% 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 +22.7% against 2020 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 63%. Imports peaked at X units in 2021, and then declined dramatically in the following year.

In value terms, electric heating equipment imports contracted to $X in 2022. In general, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 56% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electric heating equipment to Spain, with a 81% share of total imports. Moreover, electric heating equipment imports from China exceeded the figures recorded by the second-largest supplier, France (X units), more than tenfold. The third position in this ranking was taken by the Netherlands (X units), with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+12.8% per year) and the Netherlands (+21.3% per year).

In value terms, China ($X) constituted the largest supplier of electric space heating apparatus and soil heating apparatus to Spain, comprising 73% of total imports. The second position in the ranking was taken by Italy ($X), with a 6% share of total imports. It was followed by Germany, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.4% per year) and Germany (+5.6% per year).

Import Prices by Country

In 2022, the average electric heating equipment import price amounted to $X per unit, rising by 21% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% 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 +52.9% against 2017 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by 68% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

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 Poland ($X per unit), while the price for France ($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 (+17.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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