Spain: Radiator Market 2024

Radiator Market Size in Spain

The Spanish radiator market declined to $X in 2022, approximately mirroring the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X, leveling off in the following year.

Radiator Production in Spain

In value terms, radiator production declined to $X in 2022 estimated in export price. In general, production showed a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of 10% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Radiator Exports

Exports from Spain

In 2022, overseas shipments of radiators for central heating (not electrically heated) decreased by -29.9% to X tons, falling for the third consecutive year after three years of growth. Overall, exports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2017 when exports increased by 43%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, radiator exports contracted dramatically to $X in 2022. Over the period under review, exports saw a mild setback. The pace of growth appeared the most rapid in 2017 when exports increased by 30% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Portugal (X tons), Romania (X tons) and Italy (X tons) were the main destinations of radiator exports from Spain, with a combined 62% share of total exports. Poland, the UK, Germany, France, Algeria and Denmark lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +93.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X), Romania ($X) and Italy ($X) constituted the largest markets for radiator exported from Spain worldwide, with a combined 61% share of total exports. Poland, Germany, France, the UK, Algeria and Denmark lagged somewhat behind, together comprising a further 28%.

Germany, with a CAGR of +99.0%, saw the highest growth rate of the value of exports, among 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 radiator export price amounted to $X per ton, rising by 19% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +5.7%. The most prominent rate of growth was recorded in 2021 an increase of 33% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

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 Denmark ($X per ton), while the average price for exports to the UK ($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 Denmark (+25.9%), while the prices for the other major destinations experienced more modest paces of growth.

Radiator Imports

Imports into Spain

In 2022, the amount of radiators for central heating (not electrically heated) imported into Spain dropped to X tons, waning by -12.8% compared with 2021. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 36%. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, radiator imports reduced to $X in 2022. The total import value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 41% against the previous year. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

Turkey (X tons), Italy (X tons) and China (X tons) were the main suppliers of radiator imports to Spain, together accounting for 83% of total imports. Germany, Romania and Belgium lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +18.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest radiator suppliers to Spain were Italy ($X), Turkey ($X) and Germany ($X), with a combined 76% share of total imports.

Germany, with a CAGR of +27.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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 radiator import price amounted to $X per ton, increasing by 8.6% against the previous year. Over the last decade, it increased at an average annual rate of +3.9%. The pace of growth appeared the most rapid in 2013 when the average import price increased by 37% against the previous year. The import price peaked at $X per ton in 2014; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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