Czech Republic: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in the Czech Republic

In 2022, the Czech refrigerator compressor market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption continues to indicate a resilient expansion. Refrigerator compressor consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Refrigerator Compressor Production in the Czech Republic

In value terms, refrigerator compressor production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a modest increase. The growth pace was the most rapid in 2017 with an increase of 113%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Refrigerator Compressor Exports

Exports from the Czech Republic

In 2022, shipments abroad of compressors for refrigeration equipment decreased by -13% to X units, falling for the fifth consecutive year after six years of growth. In general, exports, however, recorded a tangible expansion. The pace of growth was the most pronounced in 2016 with an increase of 78% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, refrigerator compressor exports shrank to $X in 2022. The total export value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 26%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X units), Germany (X units) and Romania (X units) were the main destinations of refrigerator compressor exports from the Czech Republic, with a combined 44% share of total exports. Italy, Turkey, Spain, Hungary, Belgium, Poland, Slovenia, Sweden, Ireland and Russia lagged somewhat behind, together accounting for a further 52%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +69.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for refrigerator compressor exported from the Czech Republic were Italy ($X), Germany ($X) and France ($X), together comprising 40% of total exports. Ireland, Turkey, Romania, Spain, Hungary, Belgium, Poland, Sweden, Slovenia and Russia lagged somewhat behind, together comprising a further 45%.

Ireland, with a CAGR of +65.1%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average refrigerator compressor export price stood at $X per unit in 2022, surging by 8.8% against the previous year. Over the period under review, the export price, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2020 an increase of 58%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ireland ($X per unit), while the average price for exports to Slovenia ($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 Turkey (+0.7%), while the prices for the other major destinations experienced a decline.

Refrigerator Compressor Imports

Imports into the Czech Republic

In 2022, approx. X units of compressors for refrigeration equipment were imported into the Czech Republic; picking up by 10% against the previous year. In general, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +9.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.2% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 37%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, refrigerator compressor imports reduced slightly to $X in 2022. Over the period under review, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 35%. As a result, imports attained the peak of $X, and then dropped modestly in the following year.

Imports by Country

Hungary (X units), Poland (X units) and South Korea (X units) were the main suppliers of refrigerator compressor imports to the Czech Republic, together accounting for 47% of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +64.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Japan ($X) and Hungary ($X) were the largest refrigerator compressor suppliers to the Czech Republic, together accounting for 47% of total imports.

In terms of the main suppliers, South Korea, with a CAGR of +60.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average refrigerator compressor import price amounted to $X per unit, waning by -11.4% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 16% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2021, and then contracted in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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