Africa: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Africa

The African commercial refrigeration equipment market expanded modestly to $X in 2023, increasing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The level of consumption peaked at $X in 2019; afterwards, it flattened through to 2023.

Commercial Refrigeration Equipment Production in Africa

In value terms, commercial refrigeration equipment production expanded slightly to $X in 2023 estimated in export price. The total production indicated a strong increase from 2012 to 2023: its value 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, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2018 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

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Commercial Refrigeration Equipment Exports

Exports in Africa

In 2023, the amount of refrigerating and freezing equipment and heat pumps (except household type equipment) exported in Africa rose modestly to X units, growing by X% compared with the previous year's figure. Total exports indicated resilient growth from 2012 to 2023: its volume 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The volume of export peaked in 2023 and is likely to see steady growth in the near future.

In value terms, commercial refrigeration equipment exports contracted to $X in 2023. Total exports indicated a noticeable increase 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of export peaked at $X in 2022, and then declined modestly in the following year.

Exports by Country

South Africa prevails in exports structure, recording X units, which was near X% of total exports in 2023. It was distantly followed by Swaziland (X units), Egypt (X units) and Tunisia (X units), together generating a X% share of total exports. Morocco (X units) took a minor share of total exports.

Exports from South Africa increased at an average annual rate of X% from 2012 to 2023. At the same time, Egypt (X%), Swaziland (X%) and Morocco (X%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2023. By contrast, Tunisia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of South Africa, Egypt and Swaziland increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest commercial refrigeration equipment supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Egypt ($X), with a X% share of total exports. It was followed by Swaziland, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in South Africa stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Egypt (X% per year) and Swaziland (X% per year).

Export Prices by Country

The export price in Africa stood at $X per unit in 2023, shrinking by X% against the previous year. Overall, the export price recorded a noticeable shrinkage. The growth pace was the most rapid in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Egypt ($X per unit), while South Africa ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Morocco (X%), while the other leaders experienced mixed trends in the export price figures.

Commercial Refrigeration Equipment Imports

Imports in Africa

In 2023, the amount of refrigerating and freezing equipment and heat pumps (except household type equipment) imported in Africa expanded modestly to X units, with an increase of X% against the previous year's figure. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports attained the maximum at X units in 2013; however, from 2014 to 2023, imports failed to regain momentum.

In value terms, commercial refrigeration equipment imports fell modestly to $X in 2023. Over the period under review, imports saw a modest expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2022, and then declined modestly in the following year.

Imports by Country

In 2023, South Africa (X units), distantly followed by Morocco (X units), Egypt (X units), Algeria (X units) and Mozambique (X units) represented the major importers of refrigerating and freezing equipment and heat pumps (except household type equipment), together making up X% of total imports. Kenya (X units), Libya (X units), Angola (X units), Cote d'Ivoire (X units), Ghana (X units), Tanzania (X units), Tunisia (X units) and Nigeria (X units) held a minor share of total imports.

South Africa experienced a relatively flat trend pattern with regard to volume of imports of refrigerating and freezing equipment and heat pumps (except household type equipment). At the same time, Tanzania (X%), Cote d'Ivoire (X%), Morocco (X%), Kenya (X%), Mozambique (X%) and Tunisia (X%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2023. Egypt experienced a relatively flat trend pattern. By contrast, Ghana (X%), Libya (X%), Algeria (X%), Angola (X%) and Nigeria (X%) illustrated a downward trend over the same period. While the share of Morocco (X p.p.), South Africa (X p.p.), Mozambique (X p.p.), Kenya (X p.p.), Tanzania (X p.p.) and Cote d'Ivoire (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Angola (X p.p.), Algeria (X p.p.) and Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest commercial refrigeration equipment importing markets in Africa were South Africa ($X), Egypt ($X) and Morocco ($X), together accounting for X% of total imports. Algeria, Tunisia, Nigeria, Angola, Tanzania, Cote d'Ivoire, Libya, Ghana, Kenya and Mozambique lagged somewhat behind, together comprising a further X%.

Cote d'Ivoire, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per unit in 2023, which is down by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X%. The level of import peaked at $X per unit in 2022, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Egypt ($X per unit), while Mozambique ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform