Australia: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Australia

In 2022, the Australian commercial refrigeration equipment market increased by X% to $X, rising for the third consecutive year after three years of decline. In general, the total consumption indicated a buoyant increase from 2012 to 2022: its value 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, consumption increased by X% against 2019 indices. Commercial refrigeration equipment consumption peaked in 2022 and is expected to retain growth in the near future.

Commercial Refrigeration Equipment Exports

Exports from Australia

For the third consecutive year, Australia recorded decline in overseas shipments of refrigerating and freezing equipment and heat pumps (except household type equipment), which decreased by X% to X units in 2022. In general, exports, however, posted noticeable growth. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, commercial refrigeration equipment exports contracted rapidly to $X in 2022. Overall, exports, however, posted a strong expansion. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2021, and then dropped markedly in the following year.

Exports by Country

Japan (X units) was the main destination for commercial refrigeration equipment exports from Australia, with a X% share of total exports. Moreover, commercial refrigeration equipment exports to Japan exceeded the volume sent to the second major destination, New Zealand (X units), threefold. The third position in this ranking was taken by the United States (X units), with a X% share.

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

In value terms, Japan ($X), New Zealand ($X) and the United States ($X) appeared to be the largest markets for commercial refrigeration equipment exported from Australia worldwide, with a combined X% share of total exports. Vietnam, Singapore, Taiwan (Chinese), Canada, Sri Lanka, Hong Kong SAR, India, the Philippines and Bangladesh lagged somewhat behind, together accounting for a further X%.

Canada, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2022, the average commercial refrigeration equipment export price amounted to $X per unit, growing by X% against the previous year. Over the period under review, the export price posted a temperate increase. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2013; however, from 2014 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 Vietnam ($X per unit), while the average price for exports to Canada ($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 New Zealand (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Commercial Refrigeration Equipment Imports

Imports into Australia

In 2022, supplies from 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 four years of decline. In general, imports enjoyed a noticeable expansion. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, commercial refrigeration equipment imports soared to $X in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value 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, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest supplier of commercial refrigeration equipment to Australia, with 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), fivefold. The United States (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and the United States (X% per year).

In value terms, China ($X) constituted the largest supplier of refrigerating and freezing equipment and heat pumps (except household type equipment) to Australia, comprising X% of total imports. The second position in the ranking was held by Italy ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and the United States (X% per year).

Import Prices by Country

The average commercial refrigeration equipment import price stood at $X per unit in 2022, picking up by X% against the previous year. Overall, import price indicated a prominent 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 import price increased by X% against 2015 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for Ireland ($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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