Philippines - Refrigerating And Freezing Equipment And Heat Pumps (Except Household Type Equipment) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCommercial Refrigeration Equipment Price in the Philippines - 2023
Contents:
- Commercial Refrigeration Equipment Price in the Philippines (CIF) - 2022
- Commercial Refrigeration Equipment Price in the Philippines (FOB) - 2023
- Commercial Refrigeration Equipment Imports in the Philippines
- Commercial Refrigeration Equipment Exports in the Philippines
Commercial Refrigeration Equipment Price in the Philippines (CIF) - 2022
The average commercial refrigeration equipment import price stood at $302 per unit in 2022, picking up by 8% against the previous year. Overall, the import price posted buoyant growth. The pace of growth appeared the most rapid in 2018 an increase of 75%. The import price peaked in 2022 and is expected to retain growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($541 per unit), while the price for the United States ($278 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+15.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Commercial Refrigeration Equipment Price in the Philippines (FOB) - 2023
In July 2023, the average commercial refrigeration equipment export price amounted to $444 per unit, growing by 3.7% against the previous month. Overall, export price indicated a temperate expansion from July 2022 to July 2023: its price increased at an average monthly rate of +4.8% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2023 figures, commercial refrigeration equipment export price increased by +71.0% against April 2023 indices. The pace of growth was the most pronounced in May 2023 an increase of 57% against the previous month. The export price peaked at $449 per unit in March 2023; however, from April 2023 to July 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In July 2023, the country with the highest price was Germany ($1,273 per unit), while the average price for exports to Singapore ($307 per unit) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.
Commercial Refrigeration Equipment Imports in the Philippines
In 2022, overseas purchases of refrigerating and freezing equipment and heat pumps (except household type equipment) were finally on the rise to reach 424K units for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, recorded a abrupt downturn. Over the period under review, imports attained the maximum at 556K units in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, commercial refrigeration equipment imports surged to $128M in 2022. Overall, imports, however, recorded a pronounced downturn. Imports peaked at $136M in 2019; however, from 2020 to 2022, imports remained at a lower figure.
| Import of Commercial Refrigeration Equipment in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 64.8 | 45.1 | 63.4 | 83.8 | 8.9% |
| Thailand | 7.8 | 6.3 | 4.5 | 8.5 | 2.9% |
| United States | 15.9 | 13.6 | 5.2 | 7.4 | -22.5% |
| Taiwan (Chinese) | 11.6 | 4.2 | 6.2 | 5.5 | -22.0% |
| South Korea | 9.1 | 6.6 | 6.2 | 5.3 | -16.5% |
| Singapore | 1.2 | 1.2 | 2.9 | 3.5 | 42.9% |
| Japan | 5.0 | 2.2 | 3.9 | 3.4 | -12.1% |
| Italy | 5.6 | 4.3 | 4.3 | 2.8 | -20.6% |
| Malaysia | 4.3 | 4.0 | 0.9 | 1.7 | -26.6% |
| Others | 10.4 | 15.6 | 6.3 | 6.0 | -16.8% |
| Total | 136 | 103 | 104 | 128 | -2.0% |
Top Suppliers of Commercial Refrigeration Equipment to the Philippines in 2022:
- China (296.7K units)
- United States (26.6K units)
- Thailand (20.6K units)
- South Korea (18.6K units)
- Taiwan (Chinese) (12.5K units)
- Japan (9.2K units)
- Italy (7.0K units)
- Singapore (6.5K units)
- Malaysia (6.3K units)
Commercial Refrigeration Equipment Exports in the Philippines
In 2022, approx. 24K units of refrigerating and freezing equipment and heat pumps (except household type equipment) were exported from the Philippines; picking up by 78% compared with the previous year's figure. In general, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, commercial refrigeration equipment exports surged to $6.5M in 2022. Overall, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Commercial Refrigeration Equipment in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 3.0 | 2.9 | 3.5 | 5.8 | 24.6% |
| Others | 0.4 | 0.1 | 0.2 | 0.7 | 20.5% |
| Total | 3.3 | 3.0 | 3.7 | 6.5 | 25.4% |
Top Export Markets for Commercial Refrigeration Equipment from the Philippines in 2022:
- Japan (22.8K units)
This report provides an in-depth analysis of the commercial refrigeration equipment market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 28251333 - Refrigerated show-cases and counters incorporating a refrigerating unit or evaporator for frozen food storage
- Prodcom 28251335 - Refrigerated show-cases and counters incorporating a refrigerating unit or evaporator (excluding for frozen food storage)
- Prodcom 28251340 -
- Prodcom 28251350 -
- Prodcom 28251380 - Heat pumps other than air conditioning machines of HS
- Prodcom 28251390 - Other refrigerating or freezing equipment
Country coverage:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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