Croatia: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Croatia

After three years of growth, the Croatian commercial refrigeration equipment market decreased by -70.5% to $X in 2021. Over the period under review, consumption showed a abrupt downturn. Commercial refrigeration equipment consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Commercial Refrigeration Equipment Production in Croatia

In value terms, commercial refrigeration equipment production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 34% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Commercial Refrigeration Equipment Exports

Exports from Croatia

In 2021, shipments abroad of refrigerating and freezing equipment and heat pumps (except household type equipment) decreased by -2.7% to X units, falling for the second consecutive year after two years of growth. The total export volume increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when exports increased by 30% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, commercial refrigeration equipment exports surged to $X in 2021. Overall, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden (X units), Germany (X units) and France (X units) were the main destinations of commercial refrigeration equipment exports from Croatia, together comprising 44% of total exports. These countries were followed by Italy, Austria, Lithuania, Poland, Slovenia, Bosnia and Herzegovina, Switzerland, the United States, Norway and Serbia, which together accounted for a further 44%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +63.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for commercial refrigeration equipment exported from Croatia were Sweden ($X), Germany ($X) and Slovenia ($X), together accounting for 36% of total exports. Italy, France, Bosnia and Herzegovina, Austria, Switzerland, Serbia, the United States, Lithuania, Poland and Norway lagged somewhat behind, together comprising a further 47%.

Among the main countries of destination, the United States, with a CAGR of +65.4%, 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

The average commercial refrigeration equipment export price stood at $X per unit in 2021, picking up by 20% against the previous year. Over the last nine years, it increased at an average annual rate of +3.9%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Slovenia ($X per unit), while the average price for exports to France ($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 Serbia (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Croatia

In 2021, the amount of refrigerating and freezing equipment and heat pumps (except household type equipment) imported into Croatia soared to X units, growing by 16% on 2020. In general, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +24.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 35%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, commercial refrigeration equipment imports soared to $X in 2021. Overall, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +13.9% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X units), Austria (X units) and France (X units) were the main suppliers of commercial refrigeration equipment imports to Croatia, with a combined 51% share of total imports. These countries were followed by Slovenia, Poland, Turkey, Germany, Ukraine, China, Hungary, the Czech Republic, Romania and Ireland, which together accounted for a further 42%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +41.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Austria ($X) and Germany ($X) were the largest commercial refrigeration equipment suppliers to Croatia, together comprising 46% of total imports. Turkey, the Czech Republic, France, Poland, Slovenia, Hungary, Ukraine, China, Romania and Ireland lagged somewhat behind, together accounting for a further 43%.

Poland, with a CAGR of +30.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average commercial refrigeration equipment import price stood at $X per unit in 2021, growing by 9.3% against the previous year. Over the period under review, the import price, however, recorded a slight decline. The pace of growth was the most pronounced in 2016 when the average import price increased by 12% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 the Czech Republic ($X per unit), while the price for Slovenia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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