Belgium: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Belgium

In 2022, the Belgian market for turbo, rotary and reciporating displacement compressors decreased by -26.8% to $X, falling for the second consecutive year after two years of growth. In general, consumption, however, showed pronounced growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Turbo, Rotary and Reciporating Displacement Compressors in Belgium

In value terms, production of turbo, rotary and reciporating displacement compressors reduced slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a sharp slump. The growth pace was the most rapid in 2014 when the production volume increased by 166,603%. As a result, production attained the peak level of $X. From 2015 to 2022, production of growth failed to regain momentum.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports from Belgium

After five years of growth, overseas shipments of turbo, rotary and reciporating displacement compressors decreased by -25.4% to X units in 2022. Over the period under review, exports, however, enjoyed a perceptible increase. The pace of growth was the most pronounced in 2021 with an increase of 54%. As a result, the exports reached the peak of X units, and then dropped remarkably in the following year.

In value terms, exports of turbo, rotary and reciporating displacement compressors fell to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 29% against the previous year. As a result, the exports reached the peak of $X, and then contracted in the following year.

Exports by Country

France (X units), Germany (X units) and Italy (X units) were the main destinations of exports of turbo, rotary and reciporating displacement compressors from Belgium, together accounting for 42% of total exports. Spain, the UK, Sweden, the Czech Republic, Japan, the United States, Brazil, the Netherlands, Portugal and Finland lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +27.0%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for turbo, rotary and reciporating displacement compressors exports from Belgium, comprising 17% of total exports. The second position in the ranking was taken by Germany ($X), with a 7.1% share of total exports. It was followed by France, with a 5.5% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+9.9% per year) and France (+3.0% per year).

Export Prices by Country

The average export price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, picking up by 17% against the previous year. Overall, the export price, however, recorded a perceptible contraction. The pace of growth appeared the most rapid in 2015 an increase of 44%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports into Belgium

In 2022, purchases abroad of turbo, rotary and reciporating displacement compressors decreased by -24.6% to X units, falling for the second year in a row after two years of growth. In general, imports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2020 when imports increased by 91% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of turbo, rotary and reciporating displacement compressors dropped sharply to $X in 2022. Over the period under review, imports, however, continue to indicate a notable expansion. The pace of growth appeared the most rapid in 2020 with an increase of 50% against the previous year. Imports peaked at $X in 2021, and then fell dramatically in the following year.

Imports by Country

China (X units), Poland (X units) and Germany (X units) were the main suppliers of imports of turbo, rotary and reciporating displacement compressors to Belgium, with a combined 49% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +65.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of turbo, rotary and reciporating displacement compressors to Belgium, comprising 25% of total imports. The second position in the ranking was taken by China ($X), with a 12% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Italy totaled +28.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.7% per year) and the United States (+7.8% per year).

Import Prices by Country

The average import price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, waning by -5.3% against the previous year. Overall, the import price continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2021 when the average import price increased by 50%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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