Brazil: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Brazil

The Brazilian commercial refrigeration equipment market rose modestly to $X in 2021, picking up by 2.4% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Commercial Refrigeration Equipment Production in Brazil

In value terms, commercial refrigeration equipment production shrank to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a slight reduction. The pace of growth appeared the most rapid in 2014 with an increase of 15% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Commercial Refrigeration Equipment Exports

Exports from Brazil

In 2021, the amount of refrigerating and freezing equipment and heat pumps (except household type equipment) exported from Brazil soared to X units, with an increase of 41% on 2020. The total export volume increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, commercial refrigeration equipment exports surged to $X in 2021. The total export value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units), Paraguay (X units) and Argentina (X units) were the main destinations of commercial refrigeration equipment exports from Brazil, together accounting for 52% of total exports. Bolivia, Peru, Uruguay, Chile, Venezuela, Mexico, Oman, Guatemala, the Dominican Republic and Colombia lagged somewhat behind, together comprising a further 42%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Oman (with a CAGR of +144.3%), while the other leaders experienced more modest paces of growth.

In value terms, Paraguay ($X), the United States ($X) and Bolivia ($X) constituted the largest markets for commercial refrigeration equipment exported from Brazil worldwide, together comprising 51% of total exports. These countries were followed by Argentina, Uruguay, Peru, Chile, Venezuela, Mexico, the Dominican Republic, Colombia, Oman and Guatemala, which together accounted for a further 42%.

Among the main countries of destination, Oman, with a CAGR of +136.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average commercial refrigeration equipment export price amounted to $X per unit, reducing by -11.5% against the previous year. Overall, the export price showed a noticeable decline. The most prominent rate of growth was recorded in 2014 an increase of 17% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bolivia ($X per unit), while the average price for exports to Oman ($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 Argentina (+2.2%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Brazil

In 2021, purchases abroad of refrigerating and freezing equipment and heat pumps (except household type equipment) increased by 25% to X units, rising for the fifth consecutive year after three years of decline. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 33% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, commercial refrigeration equipment imports skyrocketed to $X in 2021. In general, imports saw a relatively flat trend pattern. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest commercial refrigeration equipment supplier to Brazil, accounting for a 68% share of total imports. Moreover, commercial refrigeration equipment imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), sixfold. Italy (X units) ranked third in terms of total imports with a 6% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.3% per year) and Italy (+9.5% per year).

In value terms, China ($X) constituted the largest supplier of refrigerating and freezing equipment and heat pumps (except household type equipment) to Brazil, comprising 44% of total imports. The second position in the ranking was held by the United States ($X), with an 18% share of total imports. It was followed by Italy, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.9% per year) and Italy (+4.8% per year).

Import Prices by Country

The average commercial refrigeration equipment import price stood at $X per unit in 2021, rising by 8.8% against the previous year. In general, the import price saw a relatively flat trend pattern. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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 South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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