United Kingdom: Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size in the UK

For the third consecutive year, the UK heat exchange unit market recorded growth in sales value, which increased by 13% to $X in 2022. Overall, consumption, however, showed a noticeable expansion. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Heat Exchange Unit Production in the UK

In value terms, heat exchange unit production reduced to $X in 2022 estimated in export price. Overall, production, however, recorded a perceptible downturn. The pace of growth appeared the most rapid in 2018 with an increase of 10%. Heat exchange unit production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Heat Exchange Unit Exports

Exports from the UK

Heat exchange unit exports from the UK skyrocketed to X units in 2022, increasing by 35% compared with 2021 figures. Overall, total exports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of +1.1% 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 +71.4% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 38%. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, heat exchange unit exports soared to $X in 2022. Over the period under review, total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.3% 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 +64.1% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X units), France (X units) and Denmark (X units) were the main destinations of heat exchange unit exports from the UK, with a combined 33% share of total exports. Egypt, the Netherlands, Italy, the United States, Ireland, Belgium, the United Arab Emirates, Spain, Singapore and China lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +37.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for heat exchange units exports from the UK, comprising 24% of total exports. The second position in the ranking was taken by France ($X), with a 9.8% share of total exports. It was followed by Germany, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +16.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+8.3% per year) and Germany (+12.7% per year).

Export Prices by Country

The average heat exchange unit export price stood at $X per unit in 2022, surging by 8.4% against the previous year. In general, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, heat exchange unit export price decreased by -4.3% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 40% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020; afterwards, it flattened through to 2022.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Denmark ($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 the United States (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Exchange Unit Imports

Imports into the UK

For the fifth year in a row, the UK recorded growth in purchases abroad of heat exchange units, which increased by 7.6% to X units in 2022. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.6% 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 +61.2% against 2017 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 24%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, heat exchange unit imports skyrocketed to $X in 2022. Overall, imports posted prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Italy (X units) and France (X units) were the main suppliers of heat exchange unit imports to the UK, together accounting for 53% of total imports. Germany, Poland, Sweden, Slovakia, the United States, the Netherlands, Romania, the Czech Republic, Thailand and Portugal lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +86.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and France ($X) constituted the largest heat exchange unit suppliers to the UK, with a combined 49% share of total imports. Germany, Italy, Poland, Sweden, Thailand, Slovakia, the Netherlands, Portugal, Romania and the Czech Republic lagged somewhat behind, together accounting for a further 37%.

Thailand, with a CAGR of +74.3%, saw 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 heat exchange unit import price amounted to $X per unit, jumping by 19% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2017 when the average import price increased by 35%. The import price peaked in 2022 and is likely to see gradual growth in years to come.

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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+20.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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