Global Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size

The global commercial refrigeration equipment market amounted to $X in 2023, rising by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked in 2023 and is likely to see steady growth in the immediate term.

Commercial Refrigeration Equipment Production

In value terms, commercial refrigeration equipment production rose to $X in 2023 estimated in export price. In general, the total production indicated slight growth 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, production increased by X% against 2020 indices. The growth pace was the most rapid in 2019 with an increase of X%. As a result, production reached the peak level of $X. From 2020 to 2023, global production growth failed to regain momentum.

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Commercial Refrigeration Equipment Exports

Exports

In 2023, global exports of refrigerating and freezing equipment and heat pumps (except household type equipment) was estimated at X units, remaining stable against the previous year. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the global exports attained the maximum at X units in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, commercial refrigeration equipment exports expanded notably to $X in 2023. Overall, total exports indicated a remarkable 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, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. The global exports peaked in 2023 and are likely to see gradual growth in the near future.

Exports by Country

China was the major exporter of refrigerating and freezing equipment and heat pumps (except household type equipment) in the world, with the volume of exports amounting to X units, which was near X% of total exports in 2023. It was distantly followed by Italy (X units), France (X units), Mexico (X units) and Germany (X units), together committing a X% share of total exports. The following exporters - South Korea (X units), Turkey (X units), Slovakia (X units), the Netherlands (X units), Thailand (X units), Ireland (X units), the Czech Republic (X units) and Singapore (X units) - together made up X% of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, Slovakia (X%), Ireland (X%), Thailand (X%), the Netherlands (X%), Turkey (X%), Italy (X%), France (X%) and Germany (X%) displayed positive paces of growth. Moreover, Slovakia emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. South Korea and Mexico experienced a relatively flat trend pattern. By contrast, the Czech Republic (X%) and Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China, Slovakia, Italy, Ireland, Thailand and the Netherlands increased by X, X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest commercial refrigeration equipment supplying countries worldwide were China ($X), Italy ($X) and Germany ($X), with a combined X% share of global exports. France, Mexico, Turkey, the Czech Republic, the Netherlands, South Korea, Ireland, Slovakia, Singapore and Thailand lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Slovakia, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global 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, with an increase of X% against the previous year. In general, export price indicated a notable expansion from 2012 to 2023: its price 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, commercial refrigeration equipment export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the average export price increased by X%. The global export price peaked in 2023 and is expected to retain growth in the near future.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other global leaders experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports

In 2023, supplies from abroad of refrigerating and freezing equipment and heat pumps (except household type equipment) decreased by X% to X units, falling for the second year in a row after ten years of growth. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2023: its volume 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 decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2022 to 2023, the growth of global imports failed to regain momentum.

In value terms, commercial refrigeration equipment imports amounted to $X in 2023. In general, total imports indicated a resilient increase from 2012 to 2023: its value 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, global imports hit record highs in 2023 and are expected to retain growth in the near future.

Imports by Country

In 2023, the United States (X units), distantly followed by Germany (X units) represented the major importers of refrigerating and freezing equipment and heat pumps (except household type equipment), together generating X% of total imports. Canada (X units), the UK (X units), the Netherlands (X units), China (X units), France (X units), Italy (X units), Australia (X units), Mexico (X units), Japan (X units), Spain (X units) and the Philippines (X units) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of X% from 2012 to 2023. At the same time, the Netherlands (X%), Japan (X%), the Philippines (X%), Italy (X%), Germany (X%), the UK (X%), France (X%), Spain (X%), Canada (X%), Mexico (X%) and Australia (X%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2023. By contrast, China (X%) illustrated a downward trend over the same period. The United States (X p.p.), the Netherlands (X p.p.) and Germany (X p.p.) significantly strengthened its position in terms of the global imports, while China saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest commercial refrigeration equipment importing markets worldwide were the United States ($X), Germany ($X) and France ($X), with a combined X% share of global imports. The Netherlands, Canada, the UK, Italy, Australia, China, Mexico, Spain, Japan and the Philippines lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, the Netherlands, 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 global 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. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Global import price peaked in 2023 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was France ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Australia (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform