Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Thailand - 2024
Contents:
- Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Thailand (FOB) - 2024
- Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Thailand (CIF) - 2024
- Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Thailand
- Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Thailand
Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Thailand (FOB) - 2024
The average export price for refrigerating or freezing equipment; parts thereof, other than furniture stood at $49.7 per unit in January 2024, growing by 8.2% against the previous month. In general, export price indicated noticeable growth from January 2023 to January 2024: its price increased at an average monthly rate of +2.8% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on January 2024 figures, export price for refrigerating or freezing equipment; parts thereof, other than furniture decreased by -2.3% against October 2023 indices. The pace of growth was the most pronounced in July 2023 an increase of 28% m-o-m. Over the period under review, the average export prices reached the peak figure at $50.9 per unit in October 2023; however, from November 2023 to January 2024, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Australia ($59.4 per unit), while the average price for exports to Bangladesh ($20.0 per unit) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Thailand (CIF) - 2024
In January 2024, the average import price for refrigerating or freezing equipment; parts thereof, other than furniture amounted to $25.0 per unit, surging by 6% against the previous month. Over the period under review, the import price, however, recorded a mild contraction. The growth pace was the most rapid in July 2023 when the average import price increased by 46% against the previous month. The import price peaked at $38.3 per unit in August 2023; however, from September 2023 to January 2024, import prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In January 2024, the country with the highest price was Vietnam ($30.7 per unit), while the price for China ($23.2 per unit) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Vietnam (-0.4%), while the prices for the other major suppliers experienced a decline.
Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Thailand
After three years of growth, overseas shipments of refrigerating or freezing equipment; parts thereof, other than furniture decreased by -13.1% to 3.8M units in 2022. Over the period under review, total exports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +12.3% 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 +41.6% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 33%. As a result, the exports attained the peak of 4.3M units, and then reduced in the following year.
In value terms, exports of refrigerating or freezing equipment; parts thereof, other than furniture reduced to $125M in 2022. The total export value increased at an average annual rate of +6.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 28%. As a result, the exports attained the peak of $132M, and then fell in the following year.
| Export of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 3.1 | 6.6 | 20.3 | 23.1 | 95.3% |
| Japan | 23.5 | 22.9 | 20.2 | 14.0 | -15.9% |
| Argentina | 5.6 | 5.7 | 11.3 | 12.3 | 30.0% |
| Australia | 11.4 | 9.4 | 11.0 | 11.5 | 0.3% |
| Bangladesh | 7.3 | 9.0 | 7.2 | 9.3 | 8.4% |
| Mexico | 0.3 | 3.7 | 5.5 | 7.2 | 188.4% |
| Egypt | 7.1 | 9.2 | 8.8 | 6.0 | -5.5% |
| South Korea | 0.8 | 3.7 | 5.7 | 4.3 | 75.2% |
| Philippines | 2.7 | 2.0 | 2.2 | 3.0 | 3.6% |
| Uzbekistan | 2.2 | 2.8 | 2.1 | 3.0 | 10.9% |
| Brazil | 4.2 | 3.3 | 3.7 | 2.0 | -21.9% |
| Algeria | 2.6 | N/A | 3.6 | 1.8 | -11.5% |
| Nigeria | 2.1 | 0.2 | 0.1 | 1.7 | -6.8% |
| Others | 30.9 | 24.5 | 30.2 | 25.9 | -5.7% |
| Total | 104 | 103 | 132 | 125 | 6.3% |
Top Export Markets for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture from Thailand in 2022:
- Bangladesh (544.1K units)
- Argentina (540.2K units)
- United States (490.0K units)
- Japan (321.3K units)
- Australia (222.8K units)
- Uzbekistan (182.0K units)
- Egypt (168.1K units)
- Brazil (138.7K units)
- Nigeria (136.3K units)
- Mexico (128.9K units)
- Philippines (123.7K units)
- South Korea (113.4K units)
- Algeria (110.0K units)
Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Thailand
In 2022, purchases abroad of refrigerating or freezing equipment; parts thereof, other than furniture decreased by -12.6% to 3.8M units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 103% against the previous year. Imports peaked at 4.3M units in 2021, and then contracted in the following year.
In value terms, imports of refrigerating or freezing equipment; parts thereof, other than furniture rose sharply to $109M in 2022. In general, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +20.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.6% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 29% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.
| Import of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 33.3 | 47.9 | 73.2 | 77.8 | 32.7% |
| Indonesia | 4.0 | 4.8 | 3.9 | 7.3 | 22.2% |
| South Korea | 5.4 | 6.1 | 5.9 | 4.8 | -3.9% |
| Italy | 4.0 | 4.3 | 3.3 | 3.6 | -3.5% |
| Vietnam | 2.0 | 3.8 | 3.3 | 1.7 | -5.3% |
| Hong Kong SAR | N/A | 0.3 | 0.7 | 0.7 | 52.8% |
| Others | 13.0 | 11.6 | 11.2 | 13.1 | 0.3% |
| Total | 61.7 | 78.8 | 102 | 109 | 20.9% |
Top Suppliers of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture to Thailand in 2022:
- China (3097.9K units)
- South Korea (136.0K units)
- Indonesia (132.1K units)
- Italy (119.5K units)
- Hong Kong SAR (100.9K units)
- Vietnam (48.3K units)
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