Heat exchangers and gas liquefaction market in Slovakia

Earlier Report Observations

The market for heat exchangers and gas liquefaction equipment in Slovakia declined from $159.2 million in 2018 to $145.3 million in 2019, pressured by rising energy and raw material costs across the EU which increased production expenses, alongside new European labeling and packaging rules that affected market activity. State-owned industrial gas companies continued to invest in modernizing their production capacities during this period.

In 2020, the market recovered to $147.7 million as state investments in healthcare, particularly for medical gas production equipment like oxygen liquefiers, boosted demand, offsetting supply chain disruptions caused by the COVID-19 pandemic. A strong expansion followed in 2021, with the market reaching $184.9 million, driven by stricter EU environmental regulations that increased demand for energy-efficient technology and the entry of new specialized manufacturers. By 2022, global supply chain bottlenecks and soaring raw material prices contributed to a slight contraction, bringing the market value to $178.3 million.

Production heat exchangers and gas liquefaction in Slovakia

In value, 2017-2020, M $ US

Slovakia's production of heat exchangers and gas liquefaction equipment declined for the second year in a row. In 2020, output was valued at 92.4 million US dollars, marking a modest decrease of 3.9% compared to 2019. Between 2018 and 2020, production fell by 10.3%, which translates to an average annual decline of 3.6%.

Annual dynamics of production in Slovakia in value, 2017-2020, M $ US

Exports heat exchangers and gas liquefaction from Slovakia

Exports in kind, t

After rising for two years, Slovakia's exports of heat exchangers and gas liquefaction equipment declined in volume. In 2020, exports amounted to 9 938 tonnes, reflecting a significant drop of 14.9% year-over-year. The peak was recorded in 2019 at 11 678 tonnes, while the largest increase occurred in 2018 at 8.1%.

Annual dynamics of product's exports from Slovakia in kind, 2017-2020, t

From 2017 to 2020, Germany, Italy, and the United States were the top destinations for Slovakia's exports of heat exchangers and gas liquefaction equipment by volume. Germany accounted for 35.8% of exports, Italy for 14.9%, and the United States for 5.8%. Together, these three countries made up 56.5% of total export flows.

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

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

Exports in value, M $ US

Following a two-year increase, Slovakia's exports of heat exchangers and gas liquefaction equipment declined in value. In 2020, exports totalled 124.2 million US dollars, representing a moderate decrease of 5.7% compared to the previous year. Over the 2017-2020 period, exports grew by 7.2%, with a compound annual growth rate of 2.3%. The highest value was recorded in 2019 at 131.7 million US dollars, while the largest increase occurred in 2018 at 12.6%.

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

Between 2017 and 2020, Germany, Italy, and the United States were the leading destinations for Slovakia's exports of heat exchangers and gas liquefaction equipment by value. Germany held a 28.4% share, Italy 15.3%, and the United States 6.6%. Combined, these three markets accounted for 50.3% of total export flows.

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

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

Imports heat exchangers and gas liquefaction to Slovakia

Imports in kind, t

Slovakia's imports of heat exchangers and gas liquefaction equipment declined in volume for the second consecutive year. In 2020, imports amounted to 16 113 tonnes, which is 5.8% lower than in 2019. The peak was recorded in 2018 at 18 035 tonnes, with the largest increase also occurring in 2018 at 9.9%.

Annual dynamics of product's imports to Slovakia in kind, 2017-2020, t

From 2017 to 2020, France, China, and Czechia were the primary sources for Slovakia's imports of heat exchangers and gas liquefaction equipment by volume. Together, these three markets accounted for 70.4% of total import flows.

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

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

Imports in value, M $ US

Slovakia's imports of heat exchangers and gas liquefaction equipment declined in value for the second year in a row. In 2020, imports were recorded at 179.5 million US dollars, down by 0.7% compared to 2019. Over the 2017-2020 period, imports increased by 8.4%, with a compound annual growth rate of 2.7%. The highest value was in 2018 at 186.5 million US dollars, while the largest decline occurred in 2019 at 3.1% and the largest increase in 2018 at 12.6%.

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

Throughout 2017 to 2020, France, China, and Germany were the main sources for Slovakia's imports of heat exchangers and gas liquefaction equipment by value. France accounted for 46.0% of imports, China for 14.5%, and Germany for 10.8%. Jointly, these three markets made up 71.3% of total import flows.

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

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