Australia: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Australia

The Australian commercial refrigeration equipment market surged to $X in 2021, increasing by 31% 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). In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.8% against 2016 indices. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Commercial Refrigeration Equipment Exports

Exports from Australia

In 2021, shipments abroad of refrigerating and freezing equipment and heat pumps (except household type equipment) increased by 77% to X units, rising for the second consecutive year after three years of decline. Overall, exports posted a buoyant expansion. The pace of growth was the most pronounced in 2015 with an increase of 82% against the previous year. Over the period under review, the exports attained the maximum at X units in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, commercial refrigeration equipment exports soared to $X in 2021. Over the period under review, exports recorded a buoyant expansion. The growth pace was the most rapid in 2013 when exports increased by 89% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Japan (X units), Singapore (X units) and New Zealand (X units) were the main destinations of commercial refrigeration equipment exports from Australia, together comprising 68% of total exports.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +73.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for commercial refrigeration equipment exported from Australia were Japan ($X), New Zealand ($X) and Singapore ($X), with a combined 66% share of total exports. Hong Kong SAR, Taiwan (Chinese), the United States, the Philippines, Italy, China and Thailand lagged somewhat behind, together comprising a further 21%.

Italy, with a CAGR of +52.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average commercial refrigeration equipment export price stood at $X per unit in 2021, increasing by 2.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2017 an increase of 59%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was New Zealand ($X per unit), while the average price for exports to Singapore ($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 Taiwan (Chinese) (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Australia

Commercial refrigeration equipment imports into Australia soared to X units in 2021, growing by 25% compared with the previous year's figure. In general, total imports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 105% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, commercial refrigeration equipment imports soared to $X in 2021. Overall, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +10.9% against 2016 indices. The pace of growth appeared the most rapid in 2016 with an increase of 64%. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, China (X units) constituted the largest supplier of commercial refrigeration equipment to Australia, accounting for a 52% share of total imports. Moreover, commercial refrigeration equipment imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), fourfold. Thailand (X units) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+7.7% per year) and Thailand (-0.5% per year).

In value terms, China ($X) constituted the largest supplier of refrigerating and freezing equipment and heat pumps (except household type equipment) to Australia, comprising 58% of total imports. The second position in the ranking was held by Italy ($X), with a 12% share of total imports. It was followed by Thailand, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.8% per year) and Thailand (-1.8% per year).

Import Prices by Country

The average commercial refrigeration equipment import price stood at $X per unit in 2021, with an increase of 8.4% against the previous year. In general, import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, commercial refrigeration equipment import price increased by +67.2% against 2016 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by 35%. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was New Zealand ($X per unit), while the price for Ireland ($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 (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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