Argentina: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Argentina

The Argentinian commercial refrigeration equipment market surged to $X in 2021, with an increase of 30% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Commercial Refrigeration Equipment Exports

Exports from Argentina

In 2021, overseas shipments of refrigerating and freezing equipment and heat pumps (except household type equipment) decreased by -58.9% to X units, falling for the fourth consecutive year after two years of growth. Over the period under review, exports continue to indicate a precipitous slump. The most prominent rate of growth was recorded in 2014 with an increase of 25% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, commercial refrigeration equipment exports fell rapidly to $X in 2021. Overall, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 48%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Paraguay (X units) was the main destination for commercial refrigeration equipment exports from Argentina, with a 64% share of total exports. Moreover, commercial refrigeration equipment exports to Paraguay exceeded the volume sent to the second major destination, Chile (X units), fivefold. Uruguay (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Paraguay amounted to -14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-21.4% per year) and Uruguay (-24.5% per year).

In value terms, Paraguay ($X) emerged as the key foreign market for refrigerating and freezing equipment and heat pumps (except household type equipment) exports from Argentina, comprising 71% of total exports. The second position in the ranking was held by Bolivia ($X), with an 11% share of total exports. It was followed by Uruguay, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Paraguay stood at -8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (-13.4% per year) and Uruguay (-21.2% per year).

Export Prices by Country

The average commercial refrigeration equipment export price stood at $X per unit in 2021, increasing by 81% against the previous year. Overall, export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Chile ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Paraguay (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Argentina

In 2021, after three years of decline, there was significant growth in purchases abroad of refrigerating and freezing equipment and heat pumps (except household type equipment), when their volume increased by 17% to X units. Over the period under review, imports, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2015 when imports increased by 39%. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, commercial refrigeration equipment imports soared to $X in 2021. In general, imports, however, showed a slight setback. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

China (X units), Brazil (X units) and Italy (X units) were the main suppliers of commercial refrigeration equipment imports to Argentina, with a combined 66% share of total imports. These countries were followed by Ireland, the United States, Canada, France, Poland, Germany, Mexico and South Korea, which together accounted for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +184.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest commercial refrigeration equipment suppliers to Argentina were China ($X), Brazil ($X) and Italy ($X), together comprising 60% of total imports. The United States, Ireland, Mexico, Canada, Germany, France, Poland and South Korea lagged somewhat behind, together comprising a further 31%.

Among the main suppliers, Ireland, with a CAGR of +281.1%, recorded 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

The average commercial refrigeration equipment import price stood at $X per unit in 2021, stabilizing at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2016 an increase of 39%. Over the period under review, average import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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