Saudi Arabia: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Saudi Arabia

The Saudi commercial refrigeration equipment market soared to $X in 2023, picking up by X% against the previous year. Over the period under review, consumption enjoyed resilient growth. Commercial refrigeration equipment consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Commercial Refrigeration Equipment Production in Saudi Arabia

In value terms, commercial refrigeration equipment production stood at $X in 2023 estimated in export price. In general, production, however, recorded buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Commercial refrigeration equipment production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Commercial Refrigeration Equipment Exports

Exports from Saudi Arabia

In 2023, approx. X units of refrigerating and freezing equipment and heat pumps (except household type equipment) were exported from Saudi Arabia; waning by X% against the year before. Overall, exports saw a significant contraction. The pace of growth appeared the most rapid in 2022 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, commercial refrigeration equipment exports plummeted to $X in 2023. In general, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2022 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Bahrain (X units), the United Arab Emirates (X units) and Sudan (X units) were the main destinations of commercial refrigeration equipment exports from Saudi Arabia, together accounting for X% of total exports. Kuwait, Turkey, Ethiopia and Oman lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ethiopia (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, the largest markets for commercial refrigeration equipment exported from Saudi Arabia were Bahrain ($X), the United Arab Emirates ($X) and Turkey ($X), together comprising X% of total exports.

Turkey, with a CAGR of X%, saw the highest growth rate of 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

The average commercial refrigeration equipment export price stood at $X per unit in 2023, picking up by X% against the previous year. In general, the export price showed strong growth. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2022 to 2023, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Oman ($X per unit), while the average price for exports to Sudan ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Oman (X%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Saudi Arabia

In 2023, imports of refrigerating and freezing equipment and heat pumps (except household type equipment) into Saudi Arabia soared to X units, surging by X% against 2022 figures. In general, imports, however, saw a perceptible shrinkage. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2023, imports stood at a somewhat lower figure.

In value terms, commercial refrigeration equipment imports surged to $X in 2023. Overall, imports, however, continue to indicate a abrupt slump. Imports peaked at $X in 2015; however, from 2016 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, China (X units) constituted the largest supplier of commercial refrigeration equipment to Saudi Arabia, accounting for 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), more than tenfold. The third position in this ranking was taken by South Korea (X units), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and South Korea (X% per year).

In value terms, the largest commercial refrigeration equipment suppliers to Saudi Arabia were China ($X), the United States ($X) and Italy ($X), with a combined X% share of total imports.

In terms of the main suppliers, China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2023, the average commercial refrigeration equipment import price amounted to $X per unit, waning by X% against the previous year. Over the period under review, the import price recorded a perceptible slump. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit, and then shrank significantly in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform