Automatic thermostats market in Sweden

Earlier Report Observations

Between 2018 and 2021, Sweden's trade in automatic thermostats showed gradual changes, with import volumes rising from 2.13 million units in 2018 to 2.48 million in 2021. The domestic market's consumption, however, shifted notably in value terms. Although the physical market size decreased from 2.33 million units in 2020 to 1.99 million in 2021, its monetary value jumped from 14.6 million to 24.0 million US dollars, signaling a move towards higher-priced products.

This transition accelerated from 2022, driven by the proven benefits of smart thermostats. Research indicated that these devices could reduce household electricity consumption by over 20%, leading to lower energy bills and enhanced comfort. As a result, consumer demand grew for models featuring geofencing, automatic scheduling, and remote access. The subsequent years saw further innovation with AI and machine learning enabling thermostats to learn user habits and optimize energy use autonomously. Regulatory adjustments in the energy market, including time-of-use pricing, also made smart thermostats more attractive for cost management, supporting a rise in market value to 30.6 million US dollars by 2022.

Production automatic thermostats in Sweden

In value, 2017-2020, K $ US

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

In kind, 2017-2020, unit

Annual dynamics of production in Sweden in kind, 2017-2020, unit

Exports automatic thermostats from Sweden

Exports in kind, K unit

In 2020, Sweden exported 564 thousand units of automatic thermostats, marking a 6.2% decrease from 2019. Over the 2017-2020 period, exports declined by 6.2%, with an average annual growth rate of -2.1%. The lowest export volume was recorded in 2018 at 551 thousand units, while the peak occurred in 2019 with 602 thousand units. The most significant drop was in 2018 at 8.4%, whereas the largest increase was in 2019 at 9.2%.

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

From 2017 to 2020, Norway, Finland, and Poland were key buyers of automatic thermostats from Sweden, accounting for 16.5%, 15.8%, and 11.9% of exports in kind, respectively. However, their combined share totaled only 44.2% of total exports, with the remaining 55.8% spread across numerous other trading partners.

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

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

Exports in value, K $ US

In 2020, Sweden's automatic thermostat exports reached 20 496 thousand US dollars, showing a modest 0.6% increase from 2019. The highest value was recorded in 2018 at 22 285 thousand US dollars. The most substantial decline occurred in 2019 at 8.6%, while the largest increase was in 2018 at 10.3%.

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

The export structure in value terms from 2017 to 2020 reveals a diverse range of partners. Norway, Finland, and Denmark contributed 13.8%, 11.5%, and 9.3% of exports in value, respectively, but together they made up only 34.5% of total flows. The remaining 65.5% was distributed among many smaller markets.

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

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

Imports automatic thermostats to Sweden

Imports in kind, K unit

Sweden's imports of automatic thermostats rose for the second consecutive year in 2020, reaching 2 833 thousand units, a 30.0% increase compared to the previous year. Between 2017 and 2020, imports grew by 33%, equivalent to an annualized rate of 10.0%. The lowest import volume was in 2018 at 2 127 thousand units, with the smallest decline recorded that year at 0.1%.

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

During the 2017-2020 period, Germany, France, and Denmark were consistently the top sources for Sweden's imports of automatic thermostats in kind, representing 25.6%, 19.2%, and 13.5% of imports, respectively. Together, they accounted for 58.2% of total import flows.

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

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

Imports in value, K $ US

In 2020, Sweden's imports of automatic thermostats in value terms stood at 33 009 thousand US dollars, reflecting a 1.7% rise from 2019. Over the 2017-2020 span, imports decreased by 4%, with a compound annual growth rate of -1.4%. The lowest value was in 2019 at 32 468 thousand US dollars, while the peak was in 2018 at 35 666 thousand US dollars. The most significant drop occurred in 2019 at 9.0%, and the largest increase was in 2018 at 3.7%.

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

From 2017 to 2020, France, Germany, and Denmark formed the primary group for Sweden's imports in value terms, contributing 24.6%, 19.4%, and 13.9% of imports, respectively. Collectively, they represented 57.9% of total import flows.

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

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