Denmark: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Denmark

In 2022, the Danish refrigerator compressor market decreased by -27.1% to $X for the first time since 2015, thus ending a six-year rising trend. Over the period under review, consumption, however, showed a mild expansion. Over the period under review, the market attained the peak level at $X in 2021, and then declined dramatically in the following year.

Refrigerator Compressor Production in Denmark

In value terms, refrigerator compressor production dropped to $X in 2022 estimated in export price. In general, production, however, enjoyed noticeable growth. The pace of growth appeared the most rapid in 2019 with an increase of 418%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Refrigerator Compressor Exports

Exports from Denmark

Refrigerator compressor exports from Denmark soared to X units in 2022, rising by 29% against the previous year's figure. In general, exports, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2019 when exports increased by 177% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, refrigerator compressor exports surged to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 165% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for refrigerator compressor exports from Denmark, accounting for a 21% share of total exports. Moreover, refrigerator compressor exports to Germany exceeded the volume sent to the second major destination, Poland (X units), twofold. Spain (X units) ranked third in terms of total exports with a 7.5% share.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at -6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+7.9% per year) and Spain (-6.1% per year).

In value terms, Germany ($X), Switzerland ($X) and France ($X) appeared to be the largest markets for refrigerator compressor exported from Denmark worldwide, together comprising 28% of total exports. The UK, the United States, Turkey, Spain, the Netherlands, Sweden, Russia, Poland, Italy and Malta lagged somewhat behind, together comprising a further 34%.

Malta, with a CAGR of +148.6%, saw the highest growth rate of the value of exports, in terms of 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, picking up by 2.2% against the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refrigerator compressor export price decreased by -19.0% against 2020 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by 56% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Malta ($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 the UK (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Compressor Imports

Imports into Denmark

In 2022, imports of compressors for refrigeration equipment into Denmark declined to X units, waning by -15% against 2021. In general, imports recorded a pronounced descent. The most prominent rate of growth was recorded in 2021 when imports increased by 39% against the previous year. Imports peaked at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, refrigerator compressor imports fell notably to $X in 2022. Over the period under review, imports showed a slight curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by 28%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of refrigerator compressor to Denmark, accounting for a 46% share of total imports. Moreover, refrigerator compressor imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. Slovakia (X units) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.1% per year) and Slovakia (-8.0% per year).

In value terms, the largest refrigerator compressor suppliers to Denmark were China ($X), Germany ($X) and France ($X), with a combined 64% share of total imports. Taiwan (Chinese), Italy, Slovakia, Poland and Austria lagged somewhat behind, together accounting for a further 15%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +21.8%, 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 -5.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2013 an increase of 35%. Over the period under review, average import prices reached the maximum at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per unit), while the price for Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+43.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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