Central Asia: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Central Asia

The Central Asian refrigerator compressor market expanded notably to $X in 2022, rising by 13% against the previous year. In general, consumption saw a strong increase. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in years to come.

Refrigerator Compressor Production in Central Asia

In value terms, refrigerator compressor production reached $X in 2022 estimated in export price. In general, production continues to indicate prominent growth. The pace of growth was the most pronounced in 2018 with an increase of 52% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Refrigerator Compressor Exports

Exports in Central Asia

In 2022, after three years of growth, there was significant decline in overseas shipments of compressors for refrigeration equipment, when their volume decreased by -6.7% to X units. In general, exports, however, saw prominent growth. The pace of growth appeared the most rapid in 2016 when exports increased by 378% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2021, and then dropped in the following year.

In value terms, refrigerator compressor exports soared to $X in 2022. Overall, exports, however, continue to indicate a notable increase. The most prominent rate of growth was recorded in 2016 with an increase of 258% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Kyrgyzstan (X units) and Kazakhstan (X units) were the largest exporters of compressors for refrigeration equipment in 2022, resulting at near 51% and 34% of total exports, respectively. It was distantly followed by Uzbekistan (X units), making up a 14% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Kyrgyzstan (with a CAGR of +58.7%), while the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), Kyrgyzstan ($X) and Uzbekistan ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for 92% of total exports.

Among the main exporting countries, Uzbekistan, with a CAGR of +38.6%, recorded 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 2022, the export price in Central Asia amounted to $X per unit, picking up by 55% against the previous year. Over the period under review, the export price, however, saw a noticeable reduction. The growth pace was the most rapid in 2013 an increase of 66% against the previous year. The level of export peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($X per unit), while Kyrgyzstan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+7.8%), while the other leaders experienced mixed trends in the export price figures.

Refrigerator Compressor Imports

Imports in Central Asia

In 2022, the amount of compressors for refrigeration equipment imported in Central Asia surged to X units, jumping by 47% compared with the previous year. Over the period under review, imports showed a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 783%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, refrigerator compressor imports skyrocketed to $X in 2022. In general, imports enjoyed a significant expansion. The pace of growth was the most pronounced in 2017 when imports increased by 267% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Uzbekistan represented the main importing country with an import of around X units, which resulted at 87% of total imports. It was distantly followed by Kazakhstan (X units), committing an 11% share of total imports.

Uzbekistan was also the fastest-growing in terms of the compressors for refrigeration equipment imports, with a CAGR of +29.1% from 2012 to 2022. At the same time, Kazakhstan (+12.2%) displayed positive paces of growth. While the share of Uzbekistan (+87 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Kazakhstan (-71.4 p.p.) displayed negative dynamics.

In value terms, Uzbekistan ($X) constitutes the largest market for imported compressors for refrigeration equipment in Central Asia, comprising 79% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 16% share of total imports.

In Uzbekistan, refrigerator compressor imports expanded at an average annual rate of +32.4% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Central Asia amounted to $X per unit, waning by -7.8% against the previous year. In general, the import price faced a deep setback. The pace of growth appeared the most rapid in 2014 when the import price increased by 89%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kazakhstan ($X per unit), while Uzbekistan totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+2.6%).

Source: IndexBox Platform

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