Automatic thermostats market in Spain

Earlier Report Observations

The market for automatic thermostats in Spain showed significant fluctuations between 2018 and 2024. Starting at 68 028 thousand US dollars in 2018, the market size contracted over the next two years, falling to 62 903 thousand in 2019 and then to 52 385 thousand in 2020. A strong rebound occurred in 2021, lifting the market value to 66 443 thousand US dollars.

By 2023, the market had retreated to 52 488 thousand US dollars. That February, a new regulation came into force mandating the installation of individual heat cost allocators and thermostatic valves in buildings with central heating, creating a structural driver for future demand. In 2024, the market grew to 60 489 thousand US dollars, propelled by continued regulatory impetus including the obligatory installation of cost allocators and thermostatic valves, alongside updates to the Thermal Installations in Buildings Regulation (RITE) that enforced advanced automation and control requirements to improve energy efficiency.

Production automatic thermostats in Spain

In value, 2017-2020, K $ US

Spain's production of automatic thermostats declined for the second year in a row. In 2020, output was valued at 41 729 thousand US dollars, marking a 3.3% decrease from 2019. Over the period from 2017 to 2020, production grew by 2.7%, which translates to an average annual increase of 0.9%. The highest value was recorded in 2018 at 47 884 thousand US dollars, with the largest increase of 17.9% occurring that year. In contrast, the largest decline of 9.9% was observed in 2019.

Annual dynamics of production in Spain in value, 2017-2020, K $ US

In kind, 2017-2020, K unit

After two years of decline, Spain's production of automatic thermostats rebounded. In 2020, 3 523 thousand units were produced, representing a 4.0% increase compared to the previous year. However, from 2017 to 2020, overall production fell by 40.9%, with a compound annual growth rate of -16.1%. The lowest production level was recorded in 2019 at 3 389 thousand units, which also saw the largest decline of 32.6%.

Annual dynamics of production in Spain in kind, 2017-2020, K unit

Exports automatic thermostats from Spain

Exports in kind, K unit

Spain's exports of automatic thermostats increased for the third consecutive year. In 2020, exports reached 10 000 thousand units, showing a strong year-over-year rise of 20.9%. Over the 2017-2020 period, exports grew by 46.2%, with an average annual growth rate of 13.5%.

Annual dynamics of product's exports from Spain in kind, 2017-2020, K unit

From 2017 to 2020, Mexico, China, and Poland were the key markets for Spain's exports of automatic thermostats in volume terms. Mexico accounted for 52.2% of exports, China for 7.6%, and Poland for 6.1%. Together, these three countries represented 65.9% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Spain in kind, 2017-2020

Exports in value, K $ US

In 2020, Spain exported automatic thermostats worth 44 391 thousand US dollars, reflecting a strong 10.8% increase compared to 2019. Over the 2017-2020 period, exports grew by 11.4%, with an average annual growth rate of 3.7%. The largest decline of 5.1% was recorded in 2019.

Annual dynamics of product's exports from Spain in value, 2017-2020, K $ US

During 2017-2020, Spain's exports of automatic thermostats in value terms were distributed across numerous markets. Mexico, France, and Italy were the top destinations, with Mexico accounting for 20.9% of exports, France for 9.9%, and Italy for 8.7%. Combined, these three countries made up 39.4% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Spain in value, 2017-2020

Imports automatic thermostats to Spain

Imports in kind, K unit

In 2020, Spain imported 9 014 thousand units of automatic thermostats, indicating a 6.9% increase from the previous year. Over the 2017-2020 period, imports rose by 12.8%, with an average annual growth rate of 4.1%. The highest import volume was recorded in 2018 at 9 072 thousand units, which also saw the largest increase of 13.6%. In 2019, imports experienced the largest decline of 7.0%.

Annual dynamics of product's imports to Spain in kind, 2017-2020, K unit

From 2017 to 2020, China, Germany, and Hong Kong were the primary sources for Spain's imports of automatic thermostats in volume terms. China accounted for 33.4% of imports, Germany for 12.8%, and Hong Kong for 8.9%. Together, these three markets represented 55.1% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Spain in kind, 2017-2020

Imports in value, K $ US

Spain's imports of automatic thermostats declined for the second consecutive year. In 2020, imports amounted to 55 047 thousand US dollars, marking an 8.0% decrease from 2019. Over the 2017-2020 period, imports increased by 5.8%, with an average annual growth rate of 1.9%. The highest value was recorded in 2018 at 62 351 thousand US dollars, which also saw the largest increase of 19.8%.

Annual dynamics of product's imports to Spain in value, 2017-2020, K $ US

In the period from 2017 to 2020, Italy, Germany, and China were the main sources for Spain's imports of automatic thermostats in value terms. Italy accounted for 24.7% of imports, Germany for 18.2%, and China for 16.4%. Combined, these three countries made up 59.4% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Spain in value, 2017-2020