Turkey: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Turkey

The Turkish commercial refrigeration equipment market stood at $X in 2023, growing by X% against the previous year. In general, consumption showed a perceptible expansion. As a result, consumption attained the peak level of $X. From 2020 to 2023, the growth of the market remained at a lower figure.

Commercial Refrigeration Equipment Production in Turkey

In value terms, commercial refrigeration equipment production reached $X in 2023 estimated in export price. Over the period under review, production continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2015 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

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Commercial Refrigeration Equipment Exports

Exports from Turkey

After two years of growth, overseas shipments of refrigerating and freezing equipment and heat pumps (except household type equipment) decreased by X% to X units in 2023. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when exports increased by X%. The exports peaked at X units in 2022, and then dropped in the following year.

In value terms, commercial refrigeration equipment exports totaled $X in 2023. Overall, exports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked in 2023 and are expected to retain growth in the immediate term.

Exports by Country

Russia (X units), Iraq (X units) and Azerbaijan (X units) were the main destinations of commercial refrigeration equipment exports from Turkey, with a combined X% share of total exports. Uzbekistan, Germany, Bulgaria, Israel, France, the United States, Italy, Turkmenistan, Morocco and the UK lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the UK ($X) and Germany ($X) appeared to be the largest markets for commercial refrigeration equipment exported from Turkey worldwide, together accounting for X% of total exports. Russia, Uzbekistan, the United States, Iraq, Israel, Italy, Azerbaijan, Morocco, Bulgaria and Turkmenistan lagged somewhat behind, together comprising a further X%.

The United States, 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

In 2023, the average commercial refrigeration equipment export price amounted to $X per unit, surging by X% against the previous year. In general, export price indicated a pronounced expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, commercial refrigeration equipment export price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The export price peaked in 2023 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Turkmenistan ($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 France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Turkey

In 2023, supplies from abroad of refrigerating and freezing equipment and heat pumps (except household type equipment) increased by X% to X units, rising for the fourth consecutive year after five years of decline. In general, imports, however, showed a slight contraction. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked at X units in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

In value terms, commercial refrigeration equipment imports surged to $X in 2023. Over the period under review, total imports indicated a perceptible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Italy (X units) and France (X units) were the main suppliers of commercial refrigeration equipment imports to Turkey, with a combined X% share of total imports. Ireland, Mexico, Germany, Russia, the United States, Austria and Spain lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest commercial refrigeration equipment suppliers to Turkey were Italy ($X), China ($X) and France ($X), together accounting for X% of total imports. Austria, Germany, Ireland, the United States, Mexico, Russia and Spain lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Russia, 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 2023, the average commercial refrigeration equipment import price amounted to $X per unit, surging by X% against the previous year. In general, import price indicated a prominent increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, commercial refrigeration equipment import price increased by X% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Austria ($X per unit), while the price for Ireland ($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 more modest paces of growth.

Source: IndexBox Platform