Sweden: Thermostat Market 2025

Thermostat Market Size in Sweden

In 2021, the Swedish thermostat market was finally on the rise to reach $X after three years of decline. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Thermostat Production in Sweden

In value terms, thermostat production expanded to $X in 2021 estimated in export price. Over the period under review, production enjoyed pronounced growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 185%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Thermostat Exports

Exports from Sweden

Thermostat exports from Sweden fell slightly to X units in 2021, remaining relatively unchanged against the previous year's figure. In general, exports showed a pronounced downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 26% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, thermostat exports reached $X in 2021. The total export value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2014 when exports increased by 14% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Norway (X units), Finland (X units) and Denmark (X units) were the main destinations of thermostat exports from Sweden, with a combined 49% share of total exports. These countries were followed by Poland, Russia, Germany, Spain, the Czech Republic, France, Italy, the UK, the United States and China, which together accounted for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Czech Republic (with a CAGR of +28.5%), while the other leaders experienced more modest paces of growth.

In value terms, Norway ($X), Finland ($X) and Denmark ($X) constituted the largest markets for thermostat exported from Sweden worldwide, together comprising 39% of total exports. Germany, France, Poland, Russia, the UK, Spain, China, Italy, the United States and the Czech Republic lagged somewhat behind, together accounting for a further 34%.

In terms of the main countries of destination, Spain, with a CAGR of +20.3%, 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 thermostat export price stood at $X per unit in 2021, with an increase of 4% against the previous year. Overall, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, thermostat export price increased by +8.8% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 27% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+21.8%), while the prices for the other major destinations experienced more modest paces of growth.

Thermostat Imports

Imports into Sweden

In 2021, after three years of growth, there was significant decline in purchases abroad of thermostats, when their volume decreased by -12.2% to X units. Over the period under review, imports showed a perceptible slump. The pace of growth appeared the most rapid in 2020 when imports increased by 26% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, thermostat imports surged to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X units), France (X units) and Denmark (X units) were the main suppliers of thermostat imports to Sweden, with a combined 51% share of total imports. The Netherlands, China, Hong Kong SAR, Estonia and Italy lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +9.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Denmark ($X) were the largest thermostat suppliers to Sweden, together comprising 58% of total imports. These countries were followed by China, Italy, Hong Kong SAR, Estonia and the Netherlands, which together accounted for a further 26%.

Hong Kong SAR, with a CAGR of +16.6%, saw the highest growth rate of the value of imports, in terms of 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 2021, the average thermostat import price amounted to $X per unit, rising by 46% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.5%. As a result, import price reached 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 2021, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+20.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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