ASEAN: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in ASEAN

The ASEAN refrigerator compressor market amounted to $X in 2022, picking up by X% against the previous year. Over the period under review, consumption, however, showed strong growth. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Refrigerator Compressor Production in ASEAN

In value terms, refrigerator compressor production shrank significantly to $X in 2022 estimated in export price. In general, production continues to indicate a deep slump. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Refrigerator Compressor Exports

Exports in ASEAN

In 2022, approx. X units of compressors for refrigeration equipment were exported in ASEAN; with a decrease of X% compared with the previous year's figure. Over the period under review, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, refrigerator compressor exports stood at $X in 2022. In general, exports recorded a noticeable downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand was the key exporter of compressors for refrigeration equipment in ASEAN, with the volume of exports reaching X units, which was near X% of total exports in 2022. Malaysia (X units) ranks second in terms of the total exports with a X% share, followed by Singapore (X%).

From 2012 to 2022, average annual rates of growth with regard to refrigerator compressor exports from Thailand stood at X%. At the same time, Malaysia (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia and Thailand increased by X and X percentage points, respectively.

In value terms, Thailand ($X) remains the largest refrigerator compressor supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Thailand was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (X% per year) and Malaysia (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, growing by X% against the previous year. Export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refrigerator compressor export price increased by X% against 2018 indices. The pace of growth was the most pronounced in 2021 an increase of X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced mixed trends in the export price figures.

Refrigerator Compressor Imports

Imports in ASEAN

In 2022, after three years of growth, there was significant decline in overseas purchases of compressors for refrigeration equipment, when their volume decreased by X% to X units. Over the period under review, imports, however, continue to indicate modest growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X units, and then fell in the following year.

In value terms, refrigerator compressor imports dropped slightly to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X units) represented the main importer of compressors for refrigeration equipment, comprising X% of total imports. It was distantly followed by Singapore (X units), creating a X% share of total imports. The following importers - the Philippines (X units), Malaysia (X units) and Vietnam (X units) - together made up X% of total imports.

Thailand experienced a relatively flat trend pattern with regard to volume of imports of compressors for refrigeration equipment. At the same time, Singapore (X%), the Philippines (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Malaysia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore and the Philippines increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported compressors for refrigeration equipment in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Singapore ($X), with a X% share of total imports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Thailand stood at X%. In the other countries, the average annual rates were as follows: Singapore (X% per year) and Vietnam (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, surging by X% against the previous year. In general, the import price, however, continues to indicate a slight decrease. Over the period under review, import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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