Australia: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Australia

In 2022, the Australian refrigerator compressor market increased by X% to $X, rising for the third year in a row after five years of decline. In general, consumption, however, saw a abrupt descent. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Refrigerator Compressor Exports

Exports from Australia

In 2022, overseas shipments of compressors for refrigeration equipment increased by X% to X units, rising for the fourth year in a row after three years of decline. Overall, exports, however, continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, refrigerator compressor exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a drastic downturn. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

New Zealand (X units) was the main destination for refrigerator compressor exports from Australia, accounting for a X% share of total exports. Moreover, refrigerator compressor exports to New Zealand exceeded the volume sent to the second major destination, the Netherlands (X units), threefold. Germany (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to New Zealand totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Germany (X% per year).

In value terms, the largest markets for refrigerator compressor exported from Australia were New Zealand ($X), Singapore ($X) and Germany ($X), together comprising X% of total exports. Papua New Guinea, the Netherlands, China, the United States, South Africa, Saudi Arabia and Thailand lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

The average refrigerator compressor export price stood at $X per unit in 2022, declining by X% against the previous year. Overall, the export price, however, posted a slight expansion. The most prominent rate of growth was recorded in 2017 an increase of X%. The export price peaked at $X 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 Singapore ($X per unit), while the average price for exports to the Netherlands ($X 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 the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Compressor Imports

Imports into Australia

In 2022, purchases abroad of compressors for refrigeration equipment increased by X% to X units, rising for the fourth consecutive year after six years of decline. Overall, imports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, refrigerator compressor imports expanded to $X in 2022. Over the period under review, imports, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of refrigerator compressor to Australia, with a X% share of total imports. Moreover, refrigerator compressor imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. The third position in this ranking was taken by Thailand (X units), with an X% share.

From 2012 to 2022, 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: Japan (X% per year) and Thailand (X% per year).

In value terms, China ($X), Thailand ($X) and the United States ($X) appeared to be the largest refrigerator compressor suppliers to Australia, with a combined X% share of total imports. Japan, Malaysia, South Korea, Canada and Singapore lagged somewhat behind, together accounting for a further X%.

Canada, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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 refrigerator compressor import price stood at $X per unit in 2022, waning by X% against the previous year. In general, the import price, however, saw a perceptible increase. The growth pace was the most rapid in 2014 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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