Eastern Europe: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Eastern Europe

In 2022, the East European refrigerator compressor market increased by 42% to $X, rising for the second consecutive year after two years of decline. Overall, consumption posted a resilient increase. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Refrigerator Compressor Production in Eastern Europe

In value terms, refrigerator compressor production expanded remarkably to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 41% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Refrigerator Compressor Exports

Exports in Eastern Europe

In 2022, the amount of compressors for refrigeration equipment exported in Eastern Europe reduced remarkably to X units, shrinking by -17.5% against the year before. Over the period under review, exports recorded a pronounced setback. The pace of growth was the most pronounced in 2017 with an increase of 24%. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, refrigerator compressor exports dropped to $X in 2022. In general, exports continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2021 with an increase of 18%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Slovakia represented the largest exporter of compressors for refrigeration equipment in Eastern Europe, with the volume of exports recording X units, which was near 42% of total exports in 2022. It was distantly followed by Poland (X units), Hungary (X units) and the Czech Republic (X units), together creating a 53% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the Czech Republic (with a CAGR of +4.7%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest refrigerator compressor supplying countries in Eastern Europe were Slovakia ($X), Poland ($X) and the Czech Republic ($X), with a combined 77% share of total exports.

The Czech Republic, with a CAGR of +1.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Eastern Europe stood at $X per unit in 2022, growing by 13% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the export price increased by 15% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per unit), while Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+2.0%), while the other leaders experienced a decline in the export price figures.

Refrigerator Compressor Imports

Imports in Eastern Europe

In 2022, imports of compressors for refrigeration equipment in Eastern Europe dropped to X units, reducing by -10.8% on 2021. The total import volume increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 20%. As a result, imports reached the peak of X units, and then contracted in the following year.

In value terms, refrigerator compressor imports reduced to $X in 2022. The total import value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 27%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

Russia (X units) and Poland (X units) were the key importers of compressors for refrigeration equipment in 2022, resulting at near 31% and 25% of total imports, respectively. It was distantly followed by Romania (X units), Slovakia (X units), the Czech Republic (X units) and Hungary (X units), together achieving a 38% share of total imports. Bulgaria (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Czech Republic (with a CAGR of +9.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refrigerator compressor importing markets in Eastern Europe were Poland ($X), Russia ($X) and the Czech Republic ($X), with a combined 68% share of total imports.

Poland, with a CAGR of +9.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per unit, surging by 1.6% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by 7.8%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while Hungary ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+4.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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