Price for Non-Furniture Refrigerating or Freezing Equipment in Australia - 2023
Contents:
- Price for Non-Furniture Refrigerating or Freezing Equipment in Australia (CIF) - 2022
- Price for Non-Furniture Refrigerating or Freezing Equipment in Australia (FOB) - 2022
- Imports of Non-Furniture Refrigerating or Freezing Equipment in Australia
- Exports of Non-Furniture Refrigerating or Freezing Equipment in Australia
Price for Non-Furniture Refrigerating or Freezing Equipment in Australia (CIF) - 2022
In 2022, the average import price for non-furniture refrigerating or freezing equipment amounted to $250 per unit, increasing by 7.8% against the previous year. Over the last decade, it increased at an average annual rate of +4.1%. The growth pace was the most rapid in 2018 an increase of 33% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Mexico ($240 per unit) and the United States ($240 per unit), while the price for Italy ($240 per unit) and Thailand ($240 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Non-Furniture Refrigerating or Freezing Equipment in Australia (FOB) - 2022
The average export price for non-furniture refrigerating or freezing equipment stood at $254 per unit in 2022, with an increase of 18% against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the average export price increased by 109%. As a result, the export price attained the peak level of $319 per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Philippines ($244 per unit) and India ($244 per unit), while the average price for exports to Singapore ($244 per unit) and Taiwan (Chinese) ($244 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Non-Furniture Refrigerating or Freezing Equipment in Australia
In 2022, approx. 1.3M units of non-furniture refrigerating or freezing equipment were imported into Australia; flattening at the year before. The total import volume increased at an average annual rate of +5.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 29%. As a result, imports attained the peak of 1.3M units, leveling off in the following year.
In value terms, non-furniture refrigerating or freezing equipment imports rose significantly to $335M in 2022. In general, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +11.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +44.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 34%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.
| Import of Non-Furniture Refrigerating or Freezing Equipment in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 90.1 | 105 | 148 | 137 | 15.0% |
| Italy | 32.5 | 26.3 | 39.9 | 45.8 | 12.1% |
| United States | 31.6 | 28.5 | 25.1 | 27.9 | -4.1% |
| Thailand | 7.5 | 18.4 | 26.7 | 26.4 | 52.1% |
| Ireland | 4.8 | 7.3 | 10.3 | 23.8 | 70.5% |
| France | 14.0 | 11.5 | 11.0 | 17.8 | 8.3% |
| Mexico | 0.6 | 1.9 | 6.5 | 10.5 | 159.6% |
| Indonesia | 7.0 | 6.4 | 8.4 | 7.0 | 0.0% |
| Japan | 17.9 | 2.6 | 2.8 | 2.6 | -47.4% |
| Others | 35.6 | 24.7 | 32.7 | 35.9 | 0.3% |
| Total | 242 | 232 | 311 | 335 | 11.4% |
Top Suppliers of Non-Furniture Refrigerating or Freezing Equipment to Australia in 2022:
- China (572.0K units)
- Italy (191.0K units)
- United States (116.5K units)
- Thailand (109.9K units)
- Ireland (99.1K units)
- France (74.1K units)
- Mexico (43.7K units)
- Indonesia (29.1K units)
- Japan (10.7K units)
Exports of Non-Furniture Refrigerating or Freezing Equipment in Australia
In 2022, after three years of growth, there was significant decline in overseas shipments of non-furniture refrigerating or freezing equipment, when their volume decreased by -29.4% to 81K units. In general, exports, however, posted a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 99.9%. As a result, the exports attained the peak of 115K units, and then contracted dramatically in the following year.
In value terms, non-furniture refrigerating or freezing equipment exports fell sharply to $21M in 2022. Overall, exports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 79% against the previous year. As a result, the exports attained the peak of $25M, and then contracted significantly in the following year.
| Export of Non-Furniture Refrigerating or Freezing Equipment in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | N/A | 2.3 | 8.4 | 7.5 | 80.6% |
| United States | 1.1 | 3.4 | 0.8 | 2.1 | 24.1% |
| New Zealand | 1.9 | 0.9 | 2.5 | 1.9 | 0.0% |
| Singapore | 0.4 | 2.0 | 6.3 | 1.3 | 48.1% |
| Canada | N/A | N/A | N/A | 1.1 | 0% |
| Taiwan (Chinese) | 0.5 | 1.1 | 1.1 | 1.1 | 30.1% |
| Sri Lanka | 0.9 | N/A | 0.1 | 1.0 | 3.6% |
| Philippines | 1.1 | 1.2 | 1.1 | 0.9 | -6.5% |
| India | N/A | N/A | N/A | 0.9 | 0% |
| Hong Kong SAR | 1.4 | 0.7 | 1.7 | 0.8 | -17.0% |
| Bangladesh | 0.4 | 0.3 | N/A | 0.5 | 7.7% |
| Papua New Guinea | 0.4 | 0.4 | 0.2 | 0.2 | -20.6% |
| Italy | 0.5 | 0.1 | 0.6 | N/A | 9.5% |
| Others | 2.0 | 1.4 | 1.8 | 1.4 | -11.2% |
| Total | 10.5 | 13.8 | 24.8 | 20.7 | 25.4% |
Top Export Markets for Non-Furniture Refrigerating or Freezing Equipment from Australia in 2022:
- Japan (30.7K units)
- United States (8.7K units)
- New Zealand (7.6K units)
- Singapore (5.3K units)
- Taiwan (Chinese) (4.5K units)
- Canada (4.4K units)
- Sri Lanka (4.1K units)
- India (3.8K units)
- Philippines (3.6K units)
- Hong Kong SAR (3.3K units)
- Bangladesh (2.2K units)
- Papua New Guinea (0.8K units)
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