U.S.: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in the U.S.

In 2022, the U.S. refrigerator compressor market increased by X% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Refrigerator Compressor Production in the U.S.

In value terms, refrigerator compressor production rose notably to $X in 2022. In general, production, however, recorded a noticeable decrease. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. Refrigerator compressor production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Refrigerator Compressor Exports

Exports from the U.S.

In 2022, shipments abroad of compressors for refrigeration equipment increased by X% to X units, rising for the second year in a row after three years of decline. Overall, exports, however, saw a mild slump. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, refrigerator compressor exports rose rapidly to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico (X units) was the main destination for refrigerator compressor exports from the United States, with a X% share of total exports. Moreover, refrigerator compressor exports to Mexico exceeded the volume sent to the second major destination, Canada (X units), twofold. The third position in this ranking was held by Germany (X units), with a X% share.

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

In value terms, Mexico ($X) remains the key foreign market for compressors for refrigeration equipment exports from the United States, comprising X% of total exports. The second position in the ranking was held by Canada ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Mexico stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Germany (X% per year).

Export Prices by Country

In 2022, the average refrigerator compressor export price amounted to $X per unit, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2020 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the average 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 Saudi Arabia ($X per unit), while the average price for exports to Canada ($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 Saudi Arabia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Compressor Imports

Imports into the U.S.

In 2022, the amount of compressors for refrigeration equipment imported into the United States expanded markedly to X units, increasing by X% on 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, refrigerator compressor imports soared to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Mexico (X units), China (X units) and South Korea (X units) were the main suppliers of refrigerator compressor imports to the United States, with a combined X% share of total imports. Japan, Brazil, Taiwan (Chinese), Thailand, Slovakia, Malaysia, Singapore and Hungary lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refrigerator compressor suppliers to the United States were Mexico ($X), Japan ($X) and South Korea ($X), with a combined X% share of total imports. China, Thailand, Taiwan (Chinese), Brazil, Slovakia, Malaysia, Singapore and Hungary lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Taiwan (Chinese), 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 more modest paces of growth.

Import Prices by Country

The average refrigerator compressor import price stood at $X per unit in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :