Switzerland: Electric Water Heater Market 2024

Electric Water Heater Market Size in Switzerland

In 2022, the Swiss electric water heater market decreased by -28.7% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, saw a modest increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Electric Water Heater Exports

Exports from Switzerland

In 2022, exports of electric water heaters and immersion heaters from Switzerland expanded significantly to X units, growing by 14% against the previous year's figure. Over the period under review, total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +7.5% 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 +43.7% against 2015 indices. The pace of growth was the most pronounced in 2015 when exports increased by 45%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, electric water heater exports soared to $X in 2022. In general, exports saw resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 43%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X units) was the main destination for electric water heater exports from Switzerland, accounting for a 30% share of total exports. Moreover, electric water heater exports to Germany exceeded the volume sent to the second major destination, Austria (X units), threefold. France (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+5.9% per year) and France (+8.0% per year).

In value terms, Germany ($X) remains the key foreign market for electric water heaters and immersion heaters exports from Switzerland, comprising 39% of total exports. The second position in the ranking was taken by Austria ($X), with a 19% share of total exports. It was followed by the UK, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+19.6% per year) and the UK (+3.3% per year).

Export Prices by Country

The average electric water heater export price stood at $X per unit in 2022, growing by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2016 an increase of 37% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per unit), while the average price for exports to Portugal ($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 Austria (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Water Heater Imports

Imports into Switzerland

In 2022, overseas purchases of electric water heaters and immersion heaters decreased by -33.6% to X units, falling for the second year in a row after two years of growth. In general, imports, however, saw slight growth. The pace of growth appeared the most rapid in 2020 with an increase of 94% against the previous year. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, electric water heater imports shrank to $X in 2022. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by 22% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest electric water heater supplier to Switzerland, with a 70% share of total imports. Moreover, electric water heater imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), fivefold. Portugal (X units) ranked third in terms of total imports with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.4% per year) and Portugal (+172.9% per year).

In value terms, the largest electric water heater suppliers to Switzerland were Germany ($X), China ($X) and Italy ($X), with a combined 71% share of total imports. France and Portugal lagged somewhat behind, together accounting for a further 19%.

Portugal, with a CAGR of +92.3%, saw the highest growth rate of 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 electric water heater import price amounted to $X per unit, growing by 49% against the previous year. In general, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.2% 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 +138.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 60%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :