The import of electric space heating and soil heating apparatus to China has seen a notable upward trend from 2013 to 2023. The value stood at 26.138 million USD in 2013, rising to 99.449 million USD in 2023. Throughout this period, the year-on-year variation demonstrates significant fluctuations, with a peak in 2017 at 57.24% and a low in 2015 at -1.41%. The Compound Annual Growth Rate (CAGR) over the past five years stands at 4.97%, indicating steady growth.
Forecasts for 2024 to 2028 show continued growth, with the value predicted to reach 121.13 million USD in 2028. The CAGR for the forecasted period is expected to be around 3.1%, resulting in a forecasted 16.48% growth rate over the next five years.
Future trends to watch for include:- Technological advancements in heating systems.- Increased demand driven by environmental policies.- Economic factors affecting import costs and demand.- Innovations and domestic production capabilities in China that may influence import reliance.
