Sweden: Electric Water Heater Market 2025

Electric Water Heater Market Size in Sweden

In 2022, the Swedish electric water heater market increased by 9.1% to $X, rising for the fourth consecutive year after two years of decline. In general, the total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.0% 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 +43.3% against 2018 indices. Electric water heater consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Electric Water Heater Production in Sweden

In value terms, electric water heater production amounted to $X in 2022 estimated in export price. In general, the total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 -3.1% against 2020 indices. The pace of growth was the most pronounced in 2016 with an increase of 137%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Electric Water Heater Exports

Exports from Sweden

In 2022, electric water heater exports from Sweden fell to X units, shrinking by -14.4% on 2021. Overall, total exports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +18.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 39%. As a result, the exports attained the peak of X units, and then contracted in the following year.

In value terms, electric water heater exports expanded remarkably to $X in 2022. Over the period under review, exports, however, showed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 26%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Finland (X units), Norway (X units) and Germany (X units) were the main destinations of electric water heater exports from Sweden, with a combined 50% share of total exports. Denmark, Poland, France, the United States, Mexico, Canada, Lithuania, the UK, the Netherlands and Estonia lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +58.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electric water heater exported from Sweden were Denmark ($X), Germany ($X) and Finland ($X), with a combined 51% share of total exports. Norway, the Netherlands, France, Lithuania, Poland, Estonia, the United States, the UK, Mexico and Canada lagged somewhat behind, together accounting for a further 32%.

In terms of the main countries of destination, Canada, with a CAGR of +33.8%, recorded the highest rates of growth with regard to 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 electric water heater export price stood at $X per unit in 2022, jumping by 25% against the previous year. In general, the export price saw a strong increase. The most prominent rate of growth was recorded in 2019 an increase of 36% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Canada ($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 Denmark (+24.4%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Water Heater Imports

Imports into Sweden

In 2022, approx. X units of electric water heaters and immersion heaters were imported into Sweden; waning by -25.7% compared with the year before. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 32%. Over the period under review, imports hit record highs at X units in 2021, and then declined dramatically in the following year.

In value terms, electric water heater imports expanded sharply to $X in 2022. Overall, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 +67.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 41% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest electric water heater supplier to Sweden, accounting for a 44% share of total imports. Moreover, electric water heater imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. The third position in this ranking was held by Germany (X units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+74.8% per year) and Germany (-2.2% per year).

In value terms, the largest electric water heater suppliers to Sweden were Italy ($X), Denmark ($X) and China ($X), together accounting for 44% of total imports. Serbia, Norway, Germany, Portugal and Poland lagged somewhat behind, together comprising a further 31%.

Among the main suppliers, Serbia, with a CAGR of +199.1%, recorded 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

The average electric water heater import price stood at $X per unit in 2022, surging by 51% against the previous year. In general, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electric water heater import price increased by +99.3% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Denmark ($X per unit), while the price for China ($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 (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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