Spain: Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size in Spain

The Spanish heat exchange unit market surged to $X in 2022, with an increase of 174% against the previous year. In general, consumption, however, saw a perceptible setback. Heat exchange unit consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Heat Exchange Unit Production in Spain

In value terms, heat exchange unit production declined to $X in 2022 estimated in export price. In general, production, however, recorded a pronounced decline. The most prominent rate of growth was recorded in 2021 with an increase of 40%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Heat Exchange Unit Exports

Exports from Spain

In 2022, after three years of growth, there was decline in shipments abroad of heat exchange units, when their volume decreased by -1.1% to X units. Over the period under review, exports, however, saw a remarkable increase. The growth pace was the most rapid in 2021 with an increase of 35%. As a result, the exports reached the peak of X units, and then contracted modestly in the following year.

In value terms, heat exchange unit exports soared to $X in 2022. Overall, exports, however, continue to indicate a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X units) was the main destination for heat exchange unit exports from Spain, accounting for a 38% share of total exports. Moreover, heat exchange unit exports to Germany exceeded the volume sent to the second major destination, Turkey (X units), threefold. Italy (X units) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to +14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+34.1% per year) and Italy (+16.8% per year).

In value terms, Germany ($X) emerged as the key foreign market for heat exchange units exports from Spain, comprising 42% of total exports. The second position in the ranking was taken by Italy ($X), with a 13% share of total exports. It was followed by Russia, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +25.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+29.9% per year) and Russia (+37.3% per year).

Export Prices by Country

In 2022, the average heat exchange unit export price amounted to $X per unit, surging by 53% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per unit), while the average price for exports to the United Arab Emirates ($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 Italy (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Exchange Unit Imports

Imports into Spain

Heat exchange unit imports into Spain soared to X units in 2022, with an increase of 22% compared with the year before. Overall, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.9% 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 +23.0% against 2020 indices. The pace of growth was the most pronounced in 2018 when imports increased by 29%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, heat exchange unit imports expanded sharply to $X in 2022. In general, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +50.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 36% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Italy (X units), China (X units) and Denmark (X units) were the main suppliers of heat exchange unit imports to Spain, together accounting for 45% of total imports. These countries were followed by Sweden, France, Germany, Portugal, the United States, the Czech Republic, Hungary, the Netherlands, Israel and Mexico, which together accounted for a further 45%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +99.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest heat exchange unit suppliers to Spain were Italy ($X), China ($X) and Germany ($X), together accounting for 37% of total imports. France, the United States, Sweden, Denmark, Mexico, the Netherlands, Portugal, Hungary, the Czech Republic and Israel lagged somewhat behind, together comprising a further 48%.

Among the main suppliers, Mexico, with a CAGR of +107.2%, saw the highest rates of growth with regard to 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 heat exchange unit import price amounted to $X per unit, reducing by -9.4% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 35% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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