Cote d'Ivoire: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Cote d'Ivoire

The Cote d'Ivoire's refrigerator compressor market shrank notably to $X in 2022, declining by -32.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a deep setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Refrigerator Compressor Exports

Exports from Cote d'Ivoire

In 2022, the amount of compressors for refrigeration equipment exported from Cote d'Ivoire declined rapidly to X units, dropping by -40% against the year before. Overall, exports, however, continue to indicate a perceptible expansion. The growth pace was the most rapid in 2021 when exports increased by 208%. As a result, the exports attained the peak of X units, and then fell significantly in the following year.

In value terms, refrigerator compressor exports shrank rapidly to $X in 2022. In general, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2021 when exports increased by 791% against the previous year. As a result, the exports attained the peak of $X, and then fell dramatically in the following year.

Exports by Country

Mali (X units) was the main destination for refrigerator compressor exports from Cote d'Ivoire, accounting for a 46% share of total exports. Moreover, refrigerator compressor exports to Mali exceeded the volume sent to the second major destination, Senegal (X units), sixfold. Burkina Faso (X units) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume to Mali totaled +27.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (+7.2% per year) and Burkina Faso (+7.2% per year).

In value terms, Mali ($X) remains the key foreign market for compressors for refrigeration equipment exports from Cote d'Ivoire, comprising 69% of total exports. The second position in the ranking was taken by Senegal ($X), with a 15% share of total exports. It was followed by Burkina Faso, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Mali totaled +45.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (+40.0% per year) and Burkina Faso (+68.8% per year).

Export Prices by Country

In 2022, the average refrigerator compressor export price amounted to $X per unit, which is down by -7.3% against the previous year. Over the period under review, the export price, however, recorded a buoyant increase. The growth pace was the most rapid in 2021 an increase of 190%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per unit), while the average price for exports to Congo ($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 Burkina Faso (+57.5%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Compressor Imports

Imports into Cote d'Ivoire

In 2022, after two years of growth, there was significant decline in purchases abroad of compressors for refrigeration equipment, when their volume decreased by -37.6% to X units. In general, imports faced a abrupt slump. The growth pace was the most rapid in 2018 with an increase of 155% against the previous year. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, refrigerator compressor imports dropped sharply to $X in 2022. Over the period under review, imports recorded a slight shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 222% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then shrank dramatically in the following year.

Imports by Country

China (X units), Spain (X units) and Germany (X units) were the main suppliers of refrigerator compressor imports to Cote d'Ivoire, with a combined 58% share of total imports. The United Arab Emirates, the UK, Norway, France, Lebanon, Burkina Faso, Japan, South Africa, Singapore and Sweden lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for Lebanon (with a CAGR of +32.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of compressors for refrigeration equipment to Cote d'Ivoire, comprising 37% of total imports. The second position in the ranking was held by France ($X), with a 12% share of total imports. It was followed by China, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-6.6% per year) and China (+3.3% per year).

Import Prices by Country

The average refrigerator compressor import price stood at $X per unit in 2022, with an increase of 12% against the previous year. Over the period under review, the import price enjoyed a remarkable increase. The growth pace was the most rapid in 2014 when the average import price increased by 99%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+57.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform