United Kingdom: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in the UK

In 2023, after two years of growth, there was significant decline in the UK commercial refrigeration equipment market, when its value decreased by X% to $X. Over the period under review, consumption, however, enjoyed a prominent increase. Over the period under review, the market attained the maximum level at $X in 2022, and then declined in the following year.

Commercial Refrigeration Equipment Production in the UK

In value terms, commercial refrigeration equipment production contracted slightly to $X in 2023 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2023, production growth remained at a lower figure.

Commercial Refrigeration Equipment Exports

Exports from the UK

In 2023, shipments abroad of refrigerating and freezing equipment and heat pumps (except household type equipment) increased by X% to X units, rising for the second year in a row after two years of decline. Overall, exports enjoyed a remarkable increase. The pace of growth was the most pronounced in 2014 with an increase of X%. The exports peaked in 2023 and are expected to retain growth in years to come.

In value terms, commercial refrigeration equipment exports rose remarkably to $X in 2023. In general, exports posted buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2023 and are expected to retain growth in the immediate term.

Exports by Country

The Netherlands (X units), Ireland (X units) and France (X units) were the main destinations of commercial refrigeration equipment exports from the UK, together accounting for X% of total exports. Germany, Turkey, Sweden, Italy, the United States, Spain, the United Arab Emirates, Poland, South Korea and China lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for commercial refrigeration equipment exported from the UK were France ($X), Germany ($X) and the Netherlands ($X), together comprising X% of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average commercial refrigeration equipment export price stood at $X per unit in 2023, almost unchanged from the previous year. In general, export price indicated notable growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, commercial refrigeration equipment export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure in 2023 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Turkey ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (X%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into the UK

In 2023, supplies from abroad of refrigerating and freezing equipment and heat pumps (except household type equipment) decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. In general, imports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2022, and then declined markedly in the following year.

In value terms, commercial refrigeration equipment imports declined to $X in 2023. Over the period under review, total imports indicated buoyant growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2014 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2022, and then fell modestly in the following year.

Imports by Country

In 2023, China (X units) constituted the largest supplier of commercial refrigeration equipment to the UK, accounting for a X% share of total imports. Moreover, commercial refrigeration equipment imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. The third position in this ranking was taken by France (X units), with an X% share.

From 2012 to 2023, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and France (X% per year).

In value terms, the largest commercial refrigeration equipment suppliers to the UK were Italy ($X), China ($X) and France ($X), with a combined X% share of total imports. Turkey, Germany, the United States, Spain, the Netherlands, the Czech Republic, Denmark, Portugal and Ireland lagged somewhat behind, together comprising a further X%.

The United States, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average commercial refrigeration equipment import price stood at $X per unit in 2023, picking up by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, average import prices reached the maximum at $X per unit in 2015; however, from 2016 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform