Market research

Water heaters and immersion heaters market in Hungary

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

From 2019 to 2021, the market for electric water heaters and immersion heaters in Hungary showed resilience followed by significant growth. After a slight contraction in 2020, market volume increased to 1 795 thousand units in 2021. This growth was supported by the entry of new players like Bosch and the expansion of smart Wi-Fi-enabled models such as the Atlantic Vertigo Steatite. Simultaneously, consumer preferences shifted toward energy-saving and hybrid technologies, stimulating demand for more modern products.

After peaking at 2 333 thousand units in 2023, the market volume fell to 1 441 thousand units in 2024. In monetary terms, the market value decreased from 33 596 thousand dollars in 2023 to 26 482 thousand dollars in 2024.

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
1. 4.1. In kind
  1. 4.1.1. Production, 2019-2021, 2023-2024
  2. 4.1.2. Imports, 2018-2025
  3. 4.1.3. Exports, 2018-2025
  4. 4.1.4. Market size, 2019-2021, 2023-2024
2. 4.2. In value
  1. 4.2.1. Production, 2019-2021, 2023-2024
  2. 4.2.2. Imports, 2018-2025
  3. 4.2.3. Exports, 2018-2025
  4. 4.2.4. Market size, 2019-2021, 2023-2024
5. Production
1. 5.1. Production in Hungary
  1. 5.1.1. In kind, 2019-2021, 2023-2024, K unit
  2. 5.1.2. In value, 2019-2021, 2023-2024, K $ US
2. 5.2. Production in the EU, 2018-2024
  1. 5.2.1. In kind, 2018-2024, K unit
  2. 5.2.2. In value, 2018-2024, K $ US
6. Exports
1. 6.1. Exports (Direct Data)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, K unit
    1. 6.1.2.1. Annual dynamics of product's exports from Hungary in kind, 2018-2025, K unit
    2. 6.1.2.2. Dynamics of product's exports in kind from Hungary by countries, 2018-2025, K unit
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 6.1.3. Exports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Hungary in value, 2018-2025, K $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Hungary by countries, 2018-2025, K $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 6.1.4. Average price of product's exports, $ US/unit
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Hungary, 2018-2025, $ US/unit
    2. 6.1.4.2. Dynamics of average price of product's exports from Hungary by countries, 2018-2025, $ US/unit
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, K unit
    1. 6.2.2.1. Annual dynamics of product's exports from Hungary in kind, 2018-2025, K unit
    2. 6.2.2.2. Dynamics of product's exports in kind from Hungary by countries, 2018-2025, K unit
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 6.2.3. Exports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Hungary in value, 2018-2025, K $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Hungary by countries, 2018-2025, K $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 6.2.4. Average price of product's exports, $ US/unit
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Hungary, 2018-2025, $ US/unit
    2. 6.2.4.2. Dynamics of average price of product's exports from Hungary by countries, 2018-2025, $ US/unit
7. Imports
1. 7.1. Imports (Direct Data)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, K unit
    1. 7.1.2.1. Annual dynamics of product's imports to Hungary in kind, 2018-2025, K unit
    2. 7.1.2.2. Dynamics of product's imports in kind to Hungary by countries, 2018-2025, K unit
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 7.1.3. Imports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Hungary in value, 2018-2025, K $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Hungary by countries, 2018-2025, K $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 7.1.4. Average price of product's imports, $ US/unit
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Hungary, 2018-2025, $ US/unit
    2. 7.1.4.2. Dynamics of average price of product's imports to Hungary by countries, 2018-2025, $ US/unit
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, K unit
    1. 7.2.2.1. Annual dynamics of product's imports to Hungary in kind, 2018-2025, K unit
    2. 7.2.2.2. Dynamics of product's imports in kind to Hungary by countries, 2018-2025, K unit
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 7.2.3. Imports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Hungary in value, 2018-2025, K $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Hungary by countries, 2018-2025, K $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 7.2.4. Average price of product's imports, $ US/unit
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Hungary, 2018-2025, $ US/unit
    2. 7.2.4.2. Dynamics of average price of product's imports to Hungary 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 Hungary

In value, 2018-2021, K $ US

In Hungary, the production value of water heaters and immersion heaters reached 18 849 thousand US dollars in 2021, marking a 16.4% increase compared to the previous year. The minimum value was recorded in 2020 at 16 190 thousand US dollars, with the largest decline that year at 0.9%. Between 2019 and 2021, production grew by 15.4%, which translates to an annualized rate of 4.9%.

Annual dynamics of production in Hungary in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	n/a	(0.9%)	16.4%	-

Source: SHEV.io

In kind, 2018-2021, K unit

In 2021, Hungary produced 143.2 thousand units of water heaters and immersion heaters, showing little change from 2020. The minimum value was recorded in 2020 at 143.1 thousand units, with the largest decline that year at 1.2%.

Annual dynamics of production in Hungary in kind, 2018-2021, K unit

Parameter		2019	2020	2021	CAGR
1	Change from last year	n/a	(1.2%)	0.1%	-

Source: SHEV.io

Exports water heaters and immersion heaters from Hungary

Exports in kind, K unit

Exports of water heaters and immersion heaters from Hungary declined for the third consecutive year. In 2021, exports stood at 304 thousand units, down by 44.7% compared to 2020. Between 2018 and 2021, exports decreased by 78.3%, equating to an annualized rate of 39.9%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	(55.9%)	(10.8%)	(44.7%)	(39.9%)

Source: SHEV.io

From 2018 to 2021, Ukraine, Poland, and Germany remained the leading destinations for Hungary's exports of water heaters and immersion heaters in kind. Ukraine accounted for 33.5% of exports, Poland for 18.2%, and Germany for 13.9%, with these three countries together making up 65.7% of total export flows.

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

Source: SHEV.io

World map of product's exports from Hungary in kind, 2018-2021

Source: SHEV.io

Exports in value, K $ US

Exports of water heaters and immersion heaters from Hungary declined for the third consecutive year. In 2021, exports reached 10 281 thousand US dollars, which is 20.0% less than the previous year. Over the period from 2018 to 2021, exports decreased by 52.7%, with a compound annual growth rate of 22.1%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	(39.8%)	(1.9%)	(20.0%)	(22.1%)

Source: SHEV.io

From 2018 to 2021, three principal markets—Germany, Poland, and Czechia—together accounted for 52.9% of the total export value of water heaters and immersion heaters from Hungary.

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

Source: SHEV.io

World map of product's exports from Hungary in value, 2018-2021

Source: SHEV.io

Imports water heaters and immersion heaters to Hungary

Imports in kind, K unit

In 2021, Hungary imported 1 956 thousand units of water heaters and immersion heaters, showing a limited increase of 6.4% year-over-year. The largest decline was recorded in 2020 at 4.2%, while the largest increase occurred in 2019 at 29.3%. Over the period from 2018 to 2021, imports increased by 31.8%, with a compound annual growth rate of 9.6%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	29.3%	(4.2%)	6.4%	9.6%

Source: SHEV.io

From 2018 to 2021, Italy, China, and Poland continued to be the top suppliers of water heaters and immersion heaters to Hungary in kind. Italy accounted for 40.3% of imports, China for 28.3%, and Poland for 12.0%, with these three countries jointly representing 80.6% of total imports.

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

Source: SHEV.io

World map of product's imports to Hungary in kind, 2018-2021

Source: SHEV.io

Imports in value, K $ US

After a two-year drop, imports of water heaters and immersion heaters to Hungary increased. In 2021, Hungary imported approximately 25 828 thousand US dollars worth of these products, showing an advance of 31.3% from a year earlier. The minimum value was recorded in 2020 at 19 665 thousand US dollars, with the largest decline in 2019 at 24.2%. Over the period from 2018 to 2021, imports decreased by 2.3%, with a compound annual growth rate of 0.8%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	(24.2%)	(1.9%)	31.3%	(0.8%)

Source: SHEV.io

From 2018 to 2021, three principal markets—China, Italy, and Romania—together accounted for 56.7% of the total import value of water heaters and immersion heaters to Hungary.

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

Source: SHEV.io

World map of product's imports to Hungary in value, 2018-2021

Source: SHEV.io