Africa: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Africa

The African commercial refrigeration equipment market rose remarkably to $X in 2021, surging by 9.3% against the previous year. The market value increased at an average annual rate of +3.4% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The level of consumption peaked in 2021 and is likely to see gradual growth in years to come.

Commercial Refrigeration Equipment Production in Africa

In value terms, commercial refrigeration equipment production declined slightly to $X in 2021 estimated in export price. Over the period under review, production saw a buoyant expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 19%. Over the period under review, production hit record highs at $X in 2020, and then declined modestly in the following year.

Commercial Refrigeration Equipment Exports

Exports in Africa

In 2021, exports of refrigerating and freezing equipment and heat pumps (except household type equipment) in Africa surged to X units, jumping by 67% compared with the previous year's figure. Over the period under review, exports, however, showed a slight slump. The volume of export peaked at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, commercial refrigeration equipment exports surged to $X in 2021. Overall, exports saw a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

South Africa prevails in exports structure, finishing at X units, which was approx. 70% of total exports in 2021. It was distantly followed by Tunisia (X units), Morocco (X units) and Swaziland (X units), together committing a 22% share of total exports. Egypt (X units) followed a long way behind the leaders.

Exports from South Africa decreased at an average annual rate of -1.2% from 2012 to 2021. At the same time, Morocco (+18.5%), Egypt (+16.2%) and Swaziland (+10.6%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in Africa, with a CAGR of +18.5% from 2012-2021. Tunisia experienced a relatively flat trend pattern. Morocco (+5.7 p.p.), Swaziland (+3.2 p.p.) and Egypt (+2.7 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest commercial refrigeration equipment supplier in Africa, comprising 54% of total exports. The second position in the ranking was held by Swaziland ($X), with a 17% share of total exports. It was followed by Egypt, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in South Africa stood at -3.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Swaziland (+15.4% per year) and Egypt (+15.6% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per unit, increasing by 5.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2020 when the export price increased by 22% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Swaziland ($X per unit), while Tunisia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Swaziland (+4.3%), while the other leaders experienced mixed trends in the export price figures.

Commercial Refrigeration Equipment Imports

Imports in Africa

After two years of decline, supplies from abroad of refrigerating and freezing equipment and heat pumps (except household type equipment) increased by 12% to X units in 2021. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 19% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, commercial refrigeration equipment imports surged to $X in 2021. The total import value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the twelve major importers of refrigerating and freezing equipment and heat pumps (except household type equipment), namely South Africa, Egypt, Morocco, Nigeria, Libya, Algeria, Angola, Ghana, Tunisia, Kenya, Tanzania and Zambia, represented more than two-thirds of total import. Cote d'Ivoire (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cote d'Ivoire (with a CAGR of +6.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest commercial refrigeration equipment importing markets in Africa were South Africa ($X), Egypt ($X) and Morocco ($X), together accounting for 40% of total imports. Algeria, Nigeria, Ghana, Libya, Angola, Tunisia, Kenya, Tanzania, Cote d'Ivoire and Zambia lagged somewhat behind, together accounting for a further 35%.

Among the main importing countries, Ghana, with a CAGR of +6.1%, 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 2021, the import price in Africa amounted to $X per unit, with an increase of 15% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Algeria ($X per unit), while Zambia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :