Asia-Pacific: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Asia-Pacific

The Asia-Pacific commercial refrigeration equipment market reached $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Commercial Refrigeration Equipment Production in Asia-Pacific

In value terms, commercial refrigeration equipment production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Commercial Refrigeration Equipment Exports

Exports in Asia-Pacific

In 2022, approx. X units of refrigerating and freezing equipment and heat pumps (except household type equipment) were exported in Asia-Pacific; waning by X% on 2021 figures. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, commercial refrigeration equipment exports expanded notably to $X in 2022. In general, exports, however, posted a resilient expansion. The growth pace was the most rapid in 2021 when exports increased by X%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

China represented the main exporting country with an export of about X units, which accounted for X% of total exports. Singapore (X units) took an X% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (X%). Japan (X units), Thailand (X units), Malaysia (X units) and India (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to commercial refrigeration equipment exports from China stood at X%. At the same time, Malaysia (X%), Thailand (X%), Japan (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. India and Singapore experienced a relatively flat trend pattern. China (X p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest commercial refrigeration equipment supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, surging by X% against the previous year. Export price indicated a strong 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, commercial refrigeration equipment export price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2020 an increase of X%. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports in Asia-Pacific

In 2022, purchases abroad of refrigerating and freezing equipment and heat pumps (except household type equipment) increased by X% to X units, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by X%. The volume of import peaked at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, commercial refrigeration equipment imports totaled $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

The countries with the highest levels of commercial refrigeration equipment imports in 2022 were Australia (X units), Indonesia (X units), Japan (X units), Taiwan (Chinese) (X units), Thailand (X units), India (X units), Singapore (X units), South Korea (X units), China (X units), Malaysia (X units), Vietnam (X units) and Bangladesh (X units), together reaching X% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Bangladesh (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Australia ($X) and Japan ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Taiwan (Chinese), Indonesia, Singapore, India, Thailand, South Korea, Vietnam, Malaysia and Bangladesh lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Bangladesh, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, with a decrease of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2020 when the import price increased by X%. The level of import peaked at $X per unit in 2021, and then reduced modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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