CIS: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in CIS

The CIS commercial refrigeration equipment market skyrocketed to $X in 2021, jumping by 16% against the previous year. The total consumption indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +106.1% against 2016 indices. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Commercial Refrigeration Equipment Production in CIS

In value terms, commercial refrigeration equipment production reduced sharply to $X in 2021 estimated in export price. The total production indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +65.1% against 2017 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 69% against the previous year. As a result, production attained the peak level of $X, and then declined notably in the following year.

Commercial Refrigeration Equipment Exports

Exports in CIS

In 2021, exports of refrigerating and freezing equipment and heat pumps (except household type equipment) in the CIS skyrocketed to X units, rising by 17% compared with the previous year. Over the period under review, exports posted buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of 66% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, commercial refrigeration equipment exports surged to $X in 2021. Overall, exports showed strong growth. The pace of growth was the most pronounced in 2016 when exports increased by 78%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Russia represented the key exporter of refrigerating and freezing equipment and heat pumps (except household type equipment) in the CIS, with the volume of exports amounting to X units, which was near 85% of total exports in 2021. It was distantly followed by Belarus (X units), mixing up a 12% share of total exports.

Russia was also the fastest-growing in terms of the refrigerating and freezing equipment and heat pumps (except household type equipment) exports, with a CAGR of +12.5% from 2012 to 2021. At the same time, Belarus (+1.0%) displayed positive paces of growth. Russia (+15 p.p.) significantly strengthened its position in terms of the total exports, while Belarus saw its share reduced by -13.9% from 2012 to 2021, respectively.

In value terms, Russia ($X) remains the largest commercial refrigeration equipment supplier in the CIS, comprising 88% of total exports. The second position in the ranking was taken by Belarus ($X), with a 9.7% share of total exports.

In Russia, commercial refrigeration equipment exports expanded at an average annual rate of +12.4% over the period from 2012-2021.

Export Prices by Country

The export price in the CIS stood at $X per unit in 2021, picking up by 12% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 25%. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per unit), while Belarus stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (-0.1%).

Commercial Refrigeration Equipment Imports

Imports in CIS

In 2021, imports of refrigerating and freezing equipment and heat pumps (except household type equipment) in the CIS skyrocketed to X units, picking up by 30% on the previous year. Total imports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +30.5% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 84% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, commercial refrigeration equipment imports surged to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 70% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Russia was the key importer of refrigerating and freezing equipment and heat pumps (except household type equipment) in the CIS, with the volume of imports accounting for X units, which was approx. 61% of total imports in 2021. Kazakhstan (X units) held the second position in the ranking, followed by Uzbekistan (X units), Azerbaijan (X units) and Belarus (X units). All these countries together took approx. 34% share of total imports. Armenia (X units) held a little share of total imports.

Russia experienced a relatively flat trend pattern with regard to volume of imports of refrigerating and freezing equipment and heat pumps (except household type equipment). At the same time, Azerbaijan (+9.2%), Armenia (+7.9%) and Kazakhstan (+6.8%) displayed positive paces of growth. Moreover, Azerbaijan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +9.2% from 2012-2021. Belarus experienced a relatively flat trend pattern. By contrast, Uzbekistan (-16.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Uzbekistan, Kazakhstan and Azerbaijan increased by +11, +3.4 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported refrigerating and freezing equipment and heat pumps (except household type equipment) in the CIS, comprising 53% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a 15% share of total imports. It was followed by Uzbekistan, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Russia totaled -2.7%. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (+5.1% per year) and Uzbekistan (-7.2% per year).

Import Prices by Country

In 2021, the import price in the CIS amounted to $X per unit, falling by -3.8% against the previous year. Overall, the import price saw a noticeable decrease. The growth pace was the most rapid in 2013 an increase of 9.1%. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Kazakhstan ($X per unit) and Belarus ($X per unit), while Russia ($X per unit) and Azerbaijan ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+10.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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