Greece: Electric Water Heater Market 2024

Electric Water Heater Market Size in Greece

The Greek electric water heater market skyrocketed to $X in 2022, picking up by X% against the previous year. Overall, the total consumption indicated a buoyant increase 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. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Electric Water Heater Production in Greece

In value terms, electric water heater production surged to $X in 2022 estimated in export price. Over the period under review, production posted prominent growth. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Over the period under review, production hit record highs in 2022 and is expected to retain growth in the immediate term.

Electric Water Heater Exports

Exports from Greece

For the fourth consecutive year, Greece recorded growth in overseas shipments of electric water heaters and immersion heaters, which increased by X% to X units in 2022. In general, exports posted tangible growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, electric water heater exports soared to $X in 2022. Overall, exports continue to indicate pronounced growth. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Cyprus (X units), the Czech Republic (X units) and Bulgaria (X units) were the main destinations of electric water heater exports from Greece, with a combined X% share of total exports. Albania, Romania, Hungary, Serbia and Germany lagged somewhat behind, together comprising a further X%.

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

In value terms, Cyprus ($X), Albania ($X) and the Czech Republic ($X) constituted the largest markets for electric water heater exported from Greece worldwide, with a combined X% share of total exports. Bulgaria, Serbia, Romania, Germany and Hungary lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Hungary, with a CAGR of X%, 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

In 2022, the average electric water heater export price amounted to $X per unit, rising by X% against the previous year. In general, the export price, however, recorded a slight decline. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average export prices failed to regain momentum.

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

Electric Water Heater Imports

Imports into Greece

In 2022, approx. X units of electric water heaters and immersion heaters were imported into Greece; increasing by X% against 2021. In general, total imports indicated a strong increase from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of X%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, electric water heater imports soared to $X in 2022. Overall, imports showed a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electric water heater to Greece, accounting for a X% share of total imports. Moreover, electric water heater imports from China exceeded the figures recorded by the second-largest supplier, Bulgaria (X units), more than tenfold. North Macedonia (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (X% per year) and North Macedonia (X% per year).

In value terms, the largest electric water heater suppliers to Greece were Bulgaria ($X), China ($X) and North Macedonia ($X), together comprising X% of total imports.

In terms of the main suppliers, Bulgaria, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the average electric water heater import price amounted to $X per unit, with an increase of X% against the previous year. Over the period under review, the import price recorded a prominent increase. The pace of growth appeared the most rapid in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform

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