Africa: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Africa

The African refrigerator compressor market contracted slightly to $X in 2022, declining by -2% against the previous year. The total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +10.8% against 2020 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Refrigerator Compressor Production in Africa

In value terms, refrigerator compressor production declined modestly to $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.3% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 40% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Refrigerator Compressor Exports

Exports in Africa

In 2022, after three years of growth, there was significant decline in overseas shipments of compressors for refrigeration equipment, when their volume decreased by -25.3% to X units. Overall, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 206% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, refrigerator compressor exports dropped dramatically to $X in 2022. In general, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2021 when exports increased by 58%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Egypt (X units) and South Africa (X units) dominates exports structure, together comprising 80% of total exports. Chad (X units) ranks next in terms of the total exports with a 10% share, followed by Morocco (5.5%).

From 2012 to 2022, the biggest increases were recorded for Chad (with a CAGR of +103.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) remains the largest refrigerator compressor supplier in Africa, comprising 57% of total exports. The second position in the ranking was held by Egypt ($X), with a 23% share of total exports. It was followed by Chad, with a 4.3% share.

In South Africa, refrigerator compressor exports declined by an average annual rate of -2.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Egypt (-12.4% per year) and Chad (+75.5% per year).

Export Prices by Country

The export price in Africa stood at $X per unit in 2022, surging by 9% against the previous year. Export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refrigerator compressor export price increased by +14.5% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of 218% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+0.1%), while the other leaders experienced a decline in the export price figures.

Refrigerator Compressor Imports

Imports in Africa

In 2022, the amount of compressors for refrigeration equipment imported in Africa totaled X units, picking up by 6.1% compared with the year before. Overall, imports recorded a resilient expansion. The growth pace was the most rapid in 2016 when imports increased by 24%. Over the period under review, imports reached the maximum at X units in 2019; afterwards, it flattened through to 2022.

In value terms, refrigerator compressor imports fell to $X in 2022. In general, imports, however, continue to indicate a mild slump. The pace of growth appeared the most rapid in 2021 when imports increased by 39%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Egypt represented the key importer of compressors for refrigeration equipment in Africa, with the volume of imports recording X units, which was near 55% of total imports in 2022. South Africa (X units) ranks second in terms of the total imports with a 17% share, followed by Algeria (15%). Morocco (X units), Tunisia (X units) and Sudan (X units) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to refrigerator compressor imports into Egypt stood at +17.0%. At the same time, Morocco (+20.5%), Sudan (+9.5%), Tunisia (+7.4%) and Algeria (+4.5%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing importer imported in Africa, with a CAGR of +20.5% from 2012-2022. By contrast, South Africa (-2.6%) illustrated a downward trend over the same period. Egypt (+31 p.p.) and Morocco (+2.9 p.p.) significantly strengthened its position in terms of the total imports, while Algeria and South Africa saw its share reduced by -4.8% and -28.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Egypt ($X), South Africa ($X) and Algeria ($X) were the countries with the highest levels of imports in 2022, with a combined 68% share of total imports. Morocco, Tunisia and Sudan lagged somewhat behind, together accounting for a further 15%.

Morocco, with a CAGR of +6.6%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per unit in 2022, falling by -14.2% against the previous year. In general, the import price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2021 when the import price increased by 17%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Tunisia ($X per unit), while Egypt ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (-1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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