Market research

Water heaters and immersion heaters market in Bosnia and Herzegovina

Release date: Mar 30, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

The market for electric water heaters and immersion heaters in Bosnia and Herzegovina, measured in value, displayed notable volatility between 2021 and 2024. After reaching 13.4 million US dollars in 2021, the market size contracted to 11.7 million in 2022. This was followed by a recovery to 14.0 million in 2023 and a further increase to 14.5 million in 2024.

Imports, which form the bulk of market supply, varied significantly throughout the period. They surged to 14.1 million US dollars in 2021, fell to 11.8 million in 2022, and then climbed steadily to 14.7 million by 2024. Export values, though much smaller, also saw fluctuations, peaking at 882 thousand in 2021 before moderating and then rising again to 464 thousand by 2024.

Domestic production remained a minor component, oscillating between 200 thousand and 253 thousand US dollars from 2021 to 2024. Over the broader span from 2018, import values generally followed an upward trajectory, while exports grew from a low base, indicating evolving trade patterns for these products in the country.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In value
    1. 4.1.1.1. Production, 2021-2024
    2. 4.1.1.2. Imports, 2018-2025
    3. 4.1.1.3. Exports, 2018-2025
    4. 4.1.1.4. Market size, 2021-2024
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Bosnia and Herzegovina
  1. 5.1.1. In kind, 2021-2024, unit
  2. 5.1.2. In value, 2021-2024, K $ US
2. 5.2. Production in the EU, 2018-2024
  1. 5.2.1. In kind, 2018-2024, unit
  2. 5.2.2. In value, 2018-2024, K $ US
6. Imports
1. 6.1. Imports (Direct Data)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, K unit
    1. 6.1.2.1. Annual dynamics of product's imports to Bosnia and Herzegovina in kind, 2018-2025, K unit
    2. 6.1.2.2. Dynamics of product's imports in kind to Bosnia and Herzegovina by countries, 2018-2025, K unit
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 6.1.3. Imports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Bosnia and Herzegovina in value, 2018-2025, K $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Bosnia and Herzegovina by countries, 2018-2025, K $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 6.1.4. Average price of product's imports, $ US/unit
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Bosnia and Herzegovina, 2018-2025, $ US/unit
    2. 6.1.4.2. Dynamics of average price of product's imports to Bosnia and Herzegovina by countries, 2018-2025, $ US/unit
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, K unit
    1. 6.2.2.1. Annual dynamics of product's imports to Bosnia and Herzegovina in kind, 2018-2025, K unit
    2. 6.2.2.2. Dynamics of product's imports in kind to Bosnia and Herzegovina by countries, 2018-2025, K unit
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 6.2.3. Imports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Bosnia and Herzegovina in value, 2018-2025, K $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Bosnia and Herzegovina by countries, 2018-2025, K $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 6.2.4. Average price of product's imports, $ US/unit
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Bosnia and Herzegovina, 2018-2025, $ US/unit
    2. 6.2.4.2. Dynamics of average price of product's imports to Bosnia and Herzegovina by countries, 2018-2025, $ US/unit
7. Exports
1. 7.1. Exports (Direct Data)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, K unit
    1. 7.1.2.1. Annual dynamics of product's exports from Bosnia and Herzegovina in kind, 2018-2025, K unit
    2. 7.1.2.2. Dynamics of product's exports in kind from Bosnia and Herzegovina by countries, 2018-2025, K unit
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 7.1.3. Exports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Bosnia and Herzegovina in value, 2018-2025, K $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Bosnia and Herzegovina by countries, 2018-2025, K $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 7.1.4. Average price of product's exports, $ US/unit
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Bosnia and Herzegovina, 2018-2025, $ US/unit
    2. 7.1.4.2. Dynamics of average price of product's exports from Bosnia and Herzegovina by countries, 2018-2025, $ US/unit
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, K unit
    1. 7.2.2.1. Annual dynamics of product's exports from Bosnia and Herzegovina in kind, 2018-2025, K unit
    2. 7.2.2.2. Dynamics of product's exports in kind from Bosnia and Herzegovina by countries, 2018-2025, K unit
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 7.2.3. Exports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Bosnia and Herzegovina in value, 2018-2025, K $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Bosnia and Herzegovina by countries, 2018-2025, K $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 7.2.4. Average price of product's exports, $ US/unit
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Bosnia and Herzegovina, 2018-2025, $ US/unit
    2. 7.2.4.2. Dynamics of average price of product's exports from Bosnia and Herzegovina by countries, 2018-2025, $ US/unit
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K unit
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K unit
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2025
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production water heaters and immersion heaters in Bosnia and Herzegovina

In value, 2018-2021, K $ US

Annual dynamics of production in Bosnia and Herzegovina in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	n/a	n/a	n/a	-

Source: SHEV.io

In kind, 2018-2021, unit

Annual dynamics of production in Bosnia and Herzegovina in kind, 2018-2021, unit

Parameter		2019	2020	2021	CAGR
1	Change from last year	n/a	n/a	n/a	-

Source: SHEV.io

Exports water heaters and immersion heaters from Bosnia and Herzegovina

Exports in kind, K unit

Bosnia and Herzegovina's exports of water heaters and immersion heaters have grown for the third year in a row. In 2021, the country exported 11.2 thousand units, marking a significant increase of 148.5% compared to 2020. Looking at the period from 2018 to 2021, exports surged by 276.1%, with an average annual growth rate of 55.5%.

Annual dynamics of product's exports from Bosnia and Herzegovina in kind, 2018-2021, K unit

Parameter		2019	2020	2021	CAGR
1	Change from last year	12.1%	35.0%	148.5%	55.5%

Source: SHEV.io

From 2018 to 2021, the main destinations for Bosnia and Herzegovina's water heaters and immersion heaters exports were Montenegro, accounting for 38.6% of exports in kind, Austria with 34.4%, and Croatia at 16.6%. Together, these three countries made up 89.6% of total exports in kind.

Structure of product's exports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Bosnia and Herzegovina in kind, 2018-2021

Source: SHEV.io

Exports in value, K $ US

Bosnia and Herzegovina's export revenue from water heaters and immersion heaters has risen for the third consecutive year. In 2021, exports reached 882 thousand US dollars, showing a sharp increase of 194.2% compared to 2020. Over the 2018-2021 period, export value grew by 304.7%, with an average annual growth rate of 59.4%.

Annual dynamics of product's exports from Bosnia and Herzegovina in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	3.3%	33.1%	194.2%	59.4%

Source: SHEV.io

Between 2018 and 2021, Montenegro, Austria, and Croatia were the leading markets for Bosnia and Herzegovina's water heaters and immersion heaters exports in value terms. Montenegro held a 38.1% share, Austria 35.8%, and Croatia 16.1%, collectively representing 90.0% of total export value.

Structure of product's exports in value by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Bosnia and Herzegovina in value, 2018-2021

Source: SHEV.io

Imports water heaters and immersion heaters to Bosnia and Herzegovina

Imports in kind, K unit

In 2021, Bosnia and Herzegovina imported 199.9 thousand units of water heaters and immersion heaters, up by 16.0% from 2020. From 2018 to 2021, imports increased by 13.5%, translating to an average annual growth rate of 4.3%. The lowest import volume was recorded in 2020 at 172.3 thousand units, which also saw the largest decline of 3.4%.

Annual dynamics of product's imports to Bosnia and Herzegovina in kind, 2018-2021, K unit

Parameter		2019	2020	2021	CAGR
1	Change from last year	1.3%	(3.4%)	16.0%	4.3%

Source: SHEV.io

During 2018-2021, Serbia, Italy, and China were the primary sources for Bosnia and Herzegovina's imports of water heaters and immersion heaters in kind. Serbia accounted for 26.0% of imports, Italy for 16.4%, and China for 15.5%, together making up 57.9% of total import volume.

Structure of product's imports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Bosnia and Herzegovina in kind, 2018-2021

Source: SHEV.io

Imports in value, K $ US

In 2021, Bosnia and Herzegovina's imports of water heaters and immersion heaters totaled 14 057 thousand US dollars, rising by 31.0% compared to 2020. Over the 2018-2021 period, import value increased by 33.1%, with an average annual growth rate of 10.0%. The largest decline occurred in 2020, at 2.7%.

Annual dynamics of product's imports to Bosnia and Herzegovina in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	4.5%	(2.7%)	31.0%	10.0%

Source: SHEV.io

From 2018 to 2021, Serbia, Italy, and China were the top suppliers of water heaters and immersion heaters to Bosnia and Herzegovina in value terms. Serbia contributed 26.0% of imports, Italy 16.5%, and China 15.5%, with their combined share reaching 57.9% of total import value.

Structure of product's imports in value by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Bosnia and Herzegovina in value, 2018-2021

Source: SHEV.io