Price for Non-Furniture Refrigerating or Freezing Equipment in India - 2023
Contents:
- Price for Non-Furniture Refrigerating or Freezing Equipment in India (CIF) - 2022
- Price for Non-Furniture Refrigerating or Freezing Equipment in India (FOB) - 2022
- Imports of Non-Furniture Refrigerating or Freezing Equipment in India
- Exports of Non-Furniture Refrigerating or Freezing Equipment in India
Price for Non-Furniture Refrigerating or Freezing Equipment in India (CIF) - 2022
The average import price for non-furniture refrigerating or freezing equipment stood at $1,689 per unit in 2022, rising by 643% against the previous year. Overall, the import price showed a resilient increase. As a result, import price reached the peak level and is likely to continue 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 Germany ($312 per unit), while the price for China ($171 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+1.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Non-Furniture Refrigerating or Freezing Equipment in India (FOB) - 2022
In 2022, the average export price for non-furniture refrigerating or freezing equipment amounted to $239 per unit, with an increase of 68% against the previous year. In general, the export price saw a buoyant increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by 78%. Over the period under review, the average export prices reached the maximum at $266 per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($330 per unit), while the average price for exports to Oman ($66 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Non-Furniture Refrigerating or Freezing Equipment in India
In 2022, non-furniture refrigerating or freezing equipment imports into India shrank markedly to 98K units, with a decrease of -86% on 2021 figures. Overall, imports continue to indicate a dramatic shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 47%. Over the period under review, imports reached the maximum at 781K units in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, non-furniture refrigerating or freezing equipment imports stood at $165M in 2022. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 45% against the previous year. Imports peaked at $167M in 2019; however, from 2020 to 2022, imports remained at a lower figure.
| Import of Non-Furniture Refrigerating or Freezing Equipment in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 97.0 | 56.8 | 78.7 | 88.9 | -2.9% |
| United States | 12.9 | 9.4 | 10.9 | 11.9 | -2.7% |
| Italy | 7.1 | 6.3 | 9.1 | 11.2 | 16.4% |
| Malaysia | 9.6 | 9.9 | 10.6 | 9.8 | 0.7% |
| Germany | 6.7 | 4.6 | 4.6 | 8.5 | 8.3% |
| Vietnam | 4.2 | 1.8 | 5.9 | 5.3 | 8.1% |
| Singapore | 2.8 | 4.0 | 3.1 | 4.3 | 15.4% |
| Belgium | 4.3 | 2.4 | 1.5 | 2.9 | -12.3% |
| Others | 22.1 | 14.4 | 34.5 | 21.9 | -0.3% |
| Total | 167 | 110 | 159 | 165 | -0.4% |
Top Suppliers of Non-Furniture Refrigerating or Freezing Equipment to India in 2022:
- China (519.9K units)
- United States (47.6K units)
- Malaysia (47.2K units)
- Italy (43.6K units)
- Germany (27.3K units)
- Vietnam (18.9K units)
- Singapore (15.0K units)
- Belgium (13.7K units)
Exports of Non-Furniture Refrigerating or Freezing Equipment in India
In 2022, approx. 225K units of non-furniture refrigerating or freezing equipment were exported from India; reducing by -19.5% compared with the previous year. Over the period under review, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 122%. As a result, the exports attained the peak of 279K units, and then contracted sharply in the following year.
In value terms, non-furniture refrigerating or freezing equipment exports skyrocketed to $54M in 2022. In general, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +7.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +61.2% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Non-Furniture Refrigerating or Freezing Equipment in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 0.7 | 0.6 | 2.4 | 6.4 | 109.1% |
| Bangladesh | 4.0 | 1.3 | 2.6 | 5.8 | 13.2% |
| United States | 3.9 | 4.2 | 3.8 | 4.9 | 7.9% |
| Nigeria | 2.9 | 1.4 | 1.4 | 3.2 | 3.3% |
| Qatar | 1.3 | 1.4 | 1.2 | 2.5 | 24.4% |
| Nepal | 2.4 | 1.1 | 2.1 | 2.2 | -2.9% |
| Lithuania | N/A | N/A | 0.1 | 2.1 | 2000.0% |
| United Arab Emirates | 2.2 | 1.3 | 2.3 | 1.9 | -4.8% |
| Germany | 2.2 | 0.3 | 1.6 | 1.5 | -12.0% |
| Saudi Arabia | 1.7 | 0.8 | 1.8 | 1.2 | -11.0% |
| Kuwait | 1.7 | 0.8 | 1.2 | 1.2 | -11.0% |
| Tunisia | 0.2 | 1.0 | 0.2 | 1.1 | 76.5% |
| Oman | 0.7 | 0.5 | 0.8 | 0.9 | 8.7% |
| Others | 19.5 | 18.7 | 18.3 | 18.7 | -1.4% |
| Total | 43.2 | 33.4 | 39.7 | 53.8 | 7.6% |
Top Export Markets for Non-Furniture Refrigerating or Freezing Equipment from India in 2022:
- Bangladesh (61.4K units)
- United States (44.0K units)
- United Arab Emirates (26.5K units)
- Qatar (24.2K units)
- Russia (19.4K units)
- Nigeria (16.3K units)
- Lithuania (14.5K units)
- Oman (13.6K units)
- Nepal (9.9K units)
- Tunisia (8.9K units)
- Kuwait (8.7K units)
- Saudi Arabia (8.0K units)
- Germany (7.2K units)
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