Report Update: Nov 1, 2024

U.S. - Refrigerating And Freezing Equipment And Heat Pumps (Except Household Type Equipment) - Market Analysis, Forecast, Size, Trends and Insights

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Commercial Refrigeration Equipment Prices in the United States

U.S. Commercial Refrigeration Equipment Import Price in July 2022

In July 2022, the commercial refrigeration equipment price amounted to $303 per unit (CIF, US), growing by 15% against the previous month. Over the last six-month period, it increased at an average monthly rate of +3.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of origin: the country with the highest price was Italy ($923 per unit), while the price for Japan ($101 per unit) was amongst the lowest.

From January 2022 to July 2022, the most notable rate of growth in terms of prices was attained by South Korea (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

U.S. Commercial Refrigeration Equipment Import Prices by Type

There were significant differences in the average prices amongst the major supplied products. In August 2022, the product with the highest price was heat pumps (other than air conditioning machines) ($946 per unit), while the price for refrigerating or freezing equipment ($189 per unit) was amongst the lowest.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by heat pump (+0.4%), while the prices for the other products experienced a decline.

U.S. Commercial Refrigeration Equipment Imports

In August 2022, commercial refrigeration equipment imports into the United States soared to 1.3M units, jumping by 34% against July 2022. The total import volume increased at an average monthly rate of +2.0% over the period from January 2022 to August 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Imports peaked at 1.3M units in April 2022; afterwards, it flattened through to August 2022.

In value terms, commercial refrigeration equipment imports totaled $321M (IndexBox estimates) in August 2022. The total import value increased at an average monthly rate of +1.6% over the period from January 2022 to August 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain months. The pace of growth appeared the most rapid in March 2022 with an increase of 17% against the previous month. Imports peaked at 332M units in June 2022; however, from July 2022 to August 2022, imports remained at a lower figure.

U.S. Commercial Refrigeration Equipment Imports by Type

In August 2022, refrigerating or freezing equipment (1M units) constituted the largest type of commercial refrigeration equipment supplied to the United States, accounting for a 81% share of total imports. Moreover, refrigerating or freezing equipment exceeded the figures recorded for the second-largest type, refrigerated show-cases (233K units), fivefold.

From January 2022 to August 2022, the average monthly rate of growth in terms of the volume of import of refrigerating or freezing equipment stood at +1.9%. With regard to the other supplied products, the following average monthly rates of growth were recorded: refrigerated show-cases (+2.1% per month) and heat pumps (other than air conditioning machines) (+9.3% per month).

In value terms, the most traded types of refrigerating and freezing equipment and heat pumps (except household type equipment) in the United States were refrigerating or freezing equipment ($198M), refrigerated show-cases ($114M) and heat pumps (other than air conditioning machines) ($8.4M).

U.S. Commercial Refrigeration Equipment Imports by Country

In July 2022, China (604K units) constituted the largest supplier of commercial refrigeration equipment to the United States, accounting for a 63% share of total imports. Moreover, commercial refrigeration equipment imports from China exceeded the figures recorded by the second-largest supplier, Mexico (145K units), fourfold. Japan (49K units) ranked third in terms of total imports with a 5.1% share.

From January 2022 to July 2022, the average monthly rate of growth in terms of volume from China stood at -4.8%. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (+1.1% per month) and Japan (+7.0% per month).

In value terms, Mexico ($114M), China ($88M) and Canada ($16M) appeared to be the largest commercial refrigeration equipment suppliers to the United States, with a combined 75% share of total imports. Italy, South Korea, Japan and Vietnam lagged somewhat behind, together comprising a further 12%.

South Korea, with a CAGR of +8.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the commercial refrigeration equipment market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28251333 - Refrigerated show-cases and counters incorporating a refrigerating unit or evaporator for frozen food storage
Prodcom 28251335 - Refrigerated show-cases and counters incorporating a refrigerating unit or evaporator (excluding for frozen food storage)
Prodcom 28251340 -
Prodcom 28251350 -
Prodcom 28251380 - Heat pumps other than air conditioning machines of HS
Prodcom 28251390 - Other refrigerating or freezing equipment

Country coverage:

United States

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the U.S.
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023