Global Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size

In 2022, the global heat exchange unit market increased by 3% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the global market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Heat Exchange Unit Production

In value terms, heat exchange unit production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 15% against the previous year. Over the period under review, global production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Heat Exchange Unit Exports

Exports

In 2022, overseas shipments of heat exchange units increased by 11% to X units, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, heat exchange unit exports expanded notably to $X in 2022. The total export value increased at an average annual rate of +3.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, China (X units), distantly followed by South Korea (X units), Italy (X units), the United States (X units) and Germany (X units) were the major exporters of heat exchange units, together comprising 57% of total exports. Sweden (X units), Hungary (X units), Poland (X units), Mexico (X units), Japan (X units), the Czech Republic (X units), France (X units) and Spain (X units) took a little share of total exports.

China was also the fastest-growing in terms of the heat exchange units exports, with a CAGR of +21.9% from 2012 to 2022. At the same time, Mexico (+18.5%), Spain (+6.9%), Hungary (+6.6%), Poland (+3.4%), Sweden (+2.2%) and Italy (+1.2%) displayed positive paces of growth. The United States and Germany experienced a relatively flat trend pattern. By contrast, Japan (-1.8%), the Czech Republic (-2.4%), France (-4.3%) and South Korea (-6.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Mexico increased by +19 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), the United States ($X) and Germany ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 33% of global exports. Italy, South Korea, Japan, Sweden, France, Mexico, Hungary, Poland, Spain and the Czech Republic lagged somewhat behind, together accounting for a further 39%.

Among the main exporting countries, Mexico, with a CAGR of +19.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average heat exchange unit export price amounted to $X per unit, approximately equating the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 9% against the previous year. The global export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while South Korea ($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 (+3.6%), while the other global leaders experienced more modest paces of growth.

Heat Exchange Unit Imports

Imports

Global heat exchange unit imports was estimated at X units in 2022, surging by 9.4% against the previous year's figure. The total import volume increased at an average annual rate of +3.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 16%. Over the period under review, global imports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, heat exchange unit imports expanded notably to $X in 2022. The total import value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 16% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, the United States (X units), distantly followed by Germany (X units) represented the main importers of heat exchange units, together comprising 31% of total imports. Italy (X units), Indonesia (X units), Japan (X units), China (X units), Canada (X units), the United Arab Emirates (X units), Turkey (X units), France (X units), the UK (X units), Slovakia (X units) and Russia (X units) followed a long way behind the leaders.

The United States was also the fastest-growing in terms of the heat exchange units imports, with a CAGR of +16.9% from 2012 to 2022. At the same time, Indonesia (+8.4%), Turkey (+6.7%), the UK (+6.6%), Japan (+4.8%), Slovakia (+4.6%), Italy (+3.8%), Germany (+2.3%), Canada (+1.8%) and France (+1.4%) displayed positive paces of growth. By contrast, Russia (-5.2%), the United Arab Emirates (-8.1%) and China (-9.5%) illustrated a downward trend over the same period. The United States (+16 p.p.) significantly strengthened its position in terms of the global imports, while Russia, the United Arab Emirates and China saw its share reduced by -2.8%, -5.9% and -7.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest heat exchange unit importing markets worldwide were the United States ($X), Germany ($X) and China ($X), together comprising 27% of global imports. Italy, Canada, France, the UK, Japan, Indonesia, Turkey, the United Arab Emirates, Slovakia and Russia lagged somewhat behind, together comprising a further 29%.

The UK, with a CAGR of +8.8%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global 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, falling by -2.4% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 5.7%. Global 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 destination: amid the top importers, the country with the highest price was China ($X per unit), while the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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