Germany: Heat Pump Market 2024

Heat Pump Market Size in Germany

In 2022, the German heat pump market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Heat Pump Production in Germany

In value terms, heat pump production skyrocketed to $X in 2022 estimated in export price. In general, production recorded strong growth. As a result, production reached the peak level and is likely to continue growth in the immediate term.

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Heat Pump Exports

Exports from Germany

In 2022, overseas shipments of heat pumps other than air conditioning machines increased by X% to X units, rising for the fourth consecutive year after six years of decline. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, heat pump exports skyrocketed to $X in 2022. Over the period under review, exports saw a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

Switzerland (X units), Poland (X units) and Austria (X units) were the main destinations of heat pump exports from Germany, together comprising X% of total exports. France, the Netherlands, Italy, Belgium, Slovakia, Sweden, Spain, the Czech Republic, Denmark and China lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovakia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for heat pump exported from Germany were Switzerland ($X), Austria ($X) and Poland ($X), together accounting for X% of total exports. France, the Netherlands, Italy, Belgium, Slovakia, Sweden, the Czech Republic, Denmark, Spain and China lagged somewhat behind, together accounting for a further X%.

Slovakia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination 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 2022, approximately reflecting the previous year. Over the period under review, the export price, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2018 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

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

Heat Pump Imports

Imports into Germany

In 2022, supplies from abroad of heat pumps other than air conditioning machines increased by X% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, heat pump imports surged to $X in 2022. Overall, imports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

France (X units), Poland (X units) and Sweden (X units) were the main suppliers of heat pump imports to Germany, with a combined X% share of total imports. China, Malaysia, Italy, Switzerland, the Czech Republic, Israel, Slovakia, Austria, Ireland and South Korea lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest heat pump suppliers to Germany were Sweden ($X), Poland ($X) and France ($X), with a combined X% share of total imports. China, Switzerland, Italy, Ireland, the Czech Republic, Malaysia, Austria, Israel, Slovakia and South Korea lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Israel, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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 2022, dropping by X% against the previous year. Over the period under review, the import price, however, continues to indicate prominent growth. The pace of growth was the most pronounced in 2019 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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