Report Update Nov 1, 2024

Cuba - Compressors for Refrigeration Equipment - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Cuba

For the sixth consecutive year, the Cuban refrigerator compressor market recorded decline in sales value, which decreased by -19.8% to $X in 2021. In general, consumption showed a deep setback. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Refrigerator Compressor Exports

Exports from Cuba

In 2021, the amount of compressors for refrigeration equipment exported from Cuba surged to X units, with an increase of 40% compared with the previous year's figure. Over the period under review, exports, however, faced a deep setback. The growth pace was the most rapid in 2017 with an increase of 819%. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, refrigerator compressor exports skyrocketed to $X in 2021. In general, exports, however, saw a sharp shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 1,272% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X units) was the main destination for refrigerator compressor exports from Cuba, accounting for a 85% share of total exports. Moreover, refrigerator compressor exports to Belgium exceeded the volume sent to the second major destination, Spain (X units), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belgium totaled +71.1%.

In value terms, Belgium ($X) and Spain ($X) constituted the largest markets for refrigerator compressor exported from Cuba worldwide.

In terms of the main countries of destination, Belgium, with a CAGR of +87.8%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2021, the average refrigerator compressor export price amounted to $X per unit, rising by 59% against the previous year. Overall, the export price, however, saw a abrupt slump. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Spain ($X per unit), while the average price for exports to Belgium stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (+29.1%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Compressor Imports

Imports into Cuba

In 2021, overseas purchases of compressors for refrigeration equipment decreased by -13.1% to X units, falling for the fifth year in a row after two years of growth. In general, imports faced a deep downturn. The pace of growth appeared the most rapid in 2013 when imports increased by 56%. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, refrigerator compressor imports dropped dramatically to $X in 2021. Over the period under review, imports showed a abrupt setback. The growth pace was the most rapid in 2015 with an increase of 55%. 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

Panama (X units), China (X units) and Spain (X units) were the main suppliers of refrigerator compressor imports to Cuba, together comprising 90% of total imports.

From 2012 to 2021, the biggest increases were in China (with a CAGR of +3.2%), while purchases for the other leaders experienced a decline.

In value terms, the largest refrigerator compressor suppliers to Cuba were Panama ($X), China ($X) and Spain ($X), together comprising 71% of total imports.

In terms of the main suppliers, China, with a CAGR of -3.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average refrigerator compressor import price stood at $X per unit in 2021, which is down by -10.7% against the previous year. In general, import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, refrigerator compressor import price decreased by -39.2% against 2019 indices. The growth pace was the most rapid in 2014 when the average import price increased by 30%. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+24.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for compressors for refrigeration equipment in the world?

China remains the largest refrigerator compressor consuming country worldwide, accounting for 29% of total volume. Moreover, refrigerator compressor consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The United States ranked third in terms of total consumption with an 8.3% share.

What are the largest producers of compressors for refrigeration equipment in the world?

China constituted the country with the largest volume of refrigerator compressor production, accounting for 50% of total volume. Moreover, refrigerator compressor production in China exceeded the figures recorded by the second-largest producer, India, eightfold. The third position in this ranking was occupied by Japan, with a 5.8% share.

What are the leading suppliers of compressors for refrigeration equipment to Cuba?

In value terms, Panama constituted the largest supplier of refrigerator compressor to Cuba, comprising 53% of total imports. The second position in the ranking was occupied by China, with a 16% share of total imports. It was followed by Spain, with a 7.6% share.

What are the leading importers of compressors for refrigeration equipment from Cuba?

In value terms, Spain remains the key foreign market for refrigerator compressor exports from Cuba, comprising 75% of total exports. The second position in the ranking was occupied by Belgium, with a 25% share of total exports.

What is the average export price for compressors for refrigeration equipment in Cuba?

The average refrigerator compressor export price stood at $74 per unit in 2021, waning by -1.7% against the previous year.

What is the average import price for compressors for refrigeration equipment in Cuba?

The average refrigerator compressor import price stood at $110 per unit in 2021, picking up by 1.8% against the previous year.

This report provides an in-depth analysis of the refrigerator compressor market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28132300 - Compressors for refrigeration equipment

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023