Chile: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Chile

The Chilean commercial refrigeration equipment market soared to $X in 2021, jumping by 58% against the previous year. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Commercial Refrigeration Equipment Production in Chile

In value terms, commercial refrigeration equipment production dropped slightly to $X in 2021 estimated in export price. In general, production, however, showed a mild slump. The growth pace was the most rapid in 2017 when the production volume increased by 0.7% against the previous year. Commercial refrigeration equipment production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Commercial Refrigeration Equipment Exports

Exports from Chile

In 2021, overseas shipments of refrigerating and freezing equipment and heat pumps (except household type equipment) were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, showed a abrupt shrinkage. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, commercial refrigeration equipment exports reached $X in 2021. Over the period under review, exports, however, saw a drastic downturn. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Bolivia (X units), Panama (X units) and Ecuador (X units) were the main destinations of commercial refrigeration equipment exports from Chile, together comprising 78% of total exports.

From 2012 to 2021, the biggest increases were recorded for Panama (with a CAGR of +12.5%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for commercial refrigeration equipment exported from Chile were Bolivia ($X), Argentina ($X) and Panama ($X), together accounting for 51% of total exports.

In terms of the main countries of destination, Panama, with a CAGR of +19.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average commercial refrigeration equipment export price amounted to $X per unit, with a decrease of -45.2% against the previous year. Over the period under review, the export price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2017 when the average export price increased by 70% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Ecuador ($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 (+14.8%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Chile

In 2021, commercial refrigeration equipment imports into Chile surged to X units, with an increase of 42% on the previous year's figure. Over the period under review, total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -4.8% against 2019 indices. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, commercial refrigeration equipment imports surged to $X in 2021. Overall, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest commercial refrigeration equipment supplier to Chile, 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), fivefold. The third position in this ranking was held by Mexico (X units), with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-0.4% per year) and Mexico (+18.1% per year).

In value terms, China ($X) constituted the largest supplier of refrigerating and freezing equipment and heat pumps (except household type equipment) to Chile, comprising 51% of total imports. The second position in the ranking was held by Mexico ($X), with a 12% share of total imports. It was followed by Italy, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+19.4% per year) and Italy (-0.6% per year).

Import Prices by Country

In 2021, the average commercial refrigeration equipment import price amounted to $X per unit, with an increase of 23% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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