Ukraine: Heat Pump Market 2024

Heat Pump Market Size in Ukraine

In 2021, after two years of growth, there was significant decline in the Ukrainian heat pump market, when its value decreased by -7.2% to $X. Overall, consumption showed a perceptible shrinkage. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Heat Pump Production in Ukraine

In value terms, heat pump production expanded notably to $X in 2021 estimated in export price. In general, production recorded a abrupt decrease. The growth pace was the most rapid in 2013 with an increase of 51% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Heat Pump Exports

Exports from Ukraine

In 2021, approx. X units of heat pumps (other than air conditioning machines) were exported from Ukraine; with a decrease of -88.9% on 2020 figures. Overall, exports showed a sharp reduction. The pace of growth was the most pronounced in 2020 with an increase of 227% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, heat pump exports reduced dramatically to $X in 2021. In general, exports continue to indicate a sharp contraction. The smallest decline of -5.8% was in 2020. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Estonia (X units) was the main destination for heat pump exports from Ukraine, accounting for a 163% share of total exports. Moreover, heat pump exports to Estonia exceeded the volume sent to the second major destination, Poland (X units), threefold. Georgia (X units) ranked third in terms of total exports with a 25% share.

From 2012 to 2021, the average annual growth rate of volume to Estonia totaled +67.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+16.7% per year) and Georgia (0.0% per year).

In value terms, Poland ($X), Estonia ($X) and Georgia ($X) were the largest markets for heat pump exported from Ukraine worldwide, together comprising 88% of total exports.

In terms of the main countries of destination, Poland, with a CAGR of +36.5%, 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 heat pump export price stood at $X per unit in 2021, with an increase of 98% against the previous year. Overall, the export price enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2019 an increase of 174% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Georgia ($X per unit), while the average price for exports to Estonia ($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 Russia (+42.5%), while the prices for the other major destinations experienced mixed trend patterns.

Heat Pump Imports

Imports into Ukraine

After two years of growth, supplies from abroad of heat pumps (other than air conditioning machines) decreased by -11% to X units in 2021. Overall, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 249% against the previous year. Imports peaked at X units in 2020, and then fell in the following year.

In value terms, heat pump imports fell notably to $X in 2021. In general, imports, however, recorded a mild increase. The most prominent rate of growth was recorded in 2019 with an increase of 173% against the previous year. Imports peaked at $X in 2020, and then fell dramatically in the following year.

Imports by Country

In 2021, China (X units) constituted the largest heat pump supplier to Ukraine, with a 67% share of total imports. Moreover, heat pump imports from China exceeded the figures recorded by the second-largest supplier, Poland (X units), sixfold. Italy (X units) ranked third in terms of total imports with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +41.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+29.2% per year) and Italy (+29.3% per year).

In value terms, the largest heat pump suppliers to Ukraine were China ($X), Poland ($X) and Germany ($X), together accounting for 70% of total imports. Italy, France, Sweden, Malaysia and Belgium lagged somewhat behind, together accounting for a further 19%.

Malaysia, with a CAGR of +37.4%, 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

The average heat pump import price stood at $X per unit in 2021, declining by -30.3% against the previous year. Overall, the import price recorded a pronounced downturn. The pace of growth was the most pronounced in 2018 an increase of 39%. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+7.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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