Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in the United States - 2023

Contents:

1. Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in the United States (CIF) - 2022
2. Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in the United States (FOB) - 2022
3. Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in the United States
4. Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in the United States

Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in the United States (CIF) - 2022

The average import price for refrigerating or freezing equipment; parts thereof, other than furniture stood at $72 per unit in 2022, jumping by 21% against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($84 per unit), while the price for Jordan ($18 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in the United States (FOB) - 2022

In 2022, the average export price for refrigerating or freezing equipment; parts thereof, other than furniture amounted to $18 per unit, shrinking by -31.2% against the previous year. In general, the export price showed a abrupt downturn. The most prominent rate of growth was recorded in 2015 when the average export price increased by 14%. The export price peaked at $58 per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($38 per unit), while the average price for exports to France ($13 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 Canada (-3.3%), while the prices for the other major destinations experienced a decline.

Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in the United States

In 2022, approx. 19M units of refrigerating or freezing equipment; parts thereof, other than furniture were imported into the United States; approximately mirroring 2021. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 23%. Over the period under review, imports of attained the maximum at 19M units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, imports of refrigerating or freezing equipment; parts thereof, other than furniture soared to $1.3B in 2022. Over the period under review, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +13.0% 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 +64.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 35%. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in years to come.

Top Suppliers of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture to the United States in 2022:

1. Mexico (6.7M units)
2. China (3.2M units)
3. Canada (2.8M units)
4. South Korea (1.2M units)
5. Japan (0.7M units)
6. Italy (0.5M units)
7. Jordan (0.5M units)
8. Thailand (0.4M units)
9. Taiwan (Chinese) (0.3M units)

Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in the United States

For the fourth year in a row, the United States recorded growth in shipments abroad of refrigerating or freezing equipment; parts thereof, other than furniture, which increased by 73% to 26M units in 2022. In general, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of refrigerating or freezing equipment; parts thereof, other than furniture soared to $465M in 2022. The total export value increased at an average annual rate of +1.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture from the United States in 2022:

1. Mexico (10.7M units)
2. Canada (2.5M units)
3. China (2.0M units)
4. Germany (1.1M units)
5. Philippines (0.9M units)
6. Netherlands (0.7M units)
7. Japan (0.6M units)
8. United Kingdom (0.5M units)
9. Guatemala (0.5M units)
10. South Korea (0.5M units)
11. Costa Rica (0.4M units)
12. France (0.4M units)

Source: IndexBox Market Intelligence Platform