MENA: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in MENA

In 2022, the MENA's refrigerator compressor market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Refrigerator Compressor Production in MENA

In value terms, refrigerator compressor production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, posted significant growth. The growth pace was the most rapid in 2018 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Refrigerator Compressor Exports

Exports in MENA

In 2022, exports of compressors for refrigeration equipment in MENA rose slightly to X units, with an increase of X% compared with the previous year's figure. Over the period under review, exports enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, refrigerator compressor exports rose markedly to $X in 2022. In general, exports showed resilient growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

Turkey was the major exporter of compressors for refrigeration equipment in MENA, with the volume of exports accounting for X units, which was approx. X% of total exports in 2022. Egypt (X units) took the second position in the ranking, distantly followed by Israel (X units). All these countries together took near X% share of total exports. The following exporters - the United Arab Emirates (X units) and Bahrain (X units) - together made up X% of total exports.

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

In value terms, the United Arab Emirates ($X) remains the largest refrigerator compressor supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports. It was followed by Israel, with a X% share.

In the United Arab Emirates, refrigerator compressor exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (X% per year) and Israel (X% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, surging by X% against the previous year. In general, the export price enjoyed a prominent increase. The most prominent rate of growth was recorded in 2013 when the export price increased by X%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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

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

Refrigerator Compressor Imports

Imports in MENA

For the eighth consecutive year, MENA recorded growth in overseas purchases of compressors for refrigeration equipment, which increased by X% to X units in 2022. Over the period under review, imports posted a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, refrigerator compressor imports stood at $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

Turkey represented the main importer of compressors for refrigeration equipment in MENA, with the volume of imports amounting to X units, which was approx. X% of total imports in 2022. It was distantly followed by Egypt (X units), Iran (X units) and the United Arab Emirates (X units), together constituting a X% share of total imports. The following importers - Algeria (X units) and Saudi Arabia (X units) - each finished at a X% share of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Egypt (X%), the United Arab Emirates (X%) and Iran (X%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. Algeria experienced a relatively flat trend pattern. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of Egypt (X p.p.), Iran (X p.p.) and the United Arab Emirates (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Algeria (X p.p.), Turkey (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics.

In value terms, Turkey ($X) constitutes the largest market for imported compressors for refrigeration equipment in MENA, comprising X% of total imports. The second position in the ranking was taken by Iran ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

In Turkey, refrigerator compressor imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Iran (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per unit, with a decrease of X% against the previous year. In general, the import price showed a perceptible slump. The most prominent rate of growth was recorded in 2015 when the import price increased by X%. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform

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