Eastern Europe: Refrigerated Vessel Market 2025

Refrigerated Vessel Market Size in Eastern Europe

The East European refrigerated vessel market surged to $X in 2022, increasing by 94% against the previous year. In general, consumption saw a significant increase. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Refrigerated Vessel Production in Eastern Europe

In value terms, refrigerated vessel production skyrocketed to $X in 2022 estimated in export price. In general, production saw a remarkable increase. The growth pace was the most rapid in 2020 when the production volume increased by 426%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Refrigerated Vessel Exports

Exports in Eastern Europe

In 2022, refrigerated vessel exports in Eastern Europe amounted to X units, leveling off at 2021 figures. In general, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2020 with an increase of 500%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, refrigerated vessel exports fell to $X in 2022. Over the period under review, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2017 when exports increased by 2,531% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the three major exporters of refrigerated vessels (ships), namely Lithuania, Poland and Russia, represented more than two-thirds of total export. It was distantly followed by Ukraine (X units), generating a 10% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Lithuania (with a CAGR of 0.0%), while the other leaders experienced a decline in the exports figures.

In value terms, Poland ($X) remains the largest refrigerated vessel supplier in Eastern Europe, comprising 79% of total exports. The second position in the ranking was held by Russia ($X), with a 14% share of total exports. It was followed by Lithuania, with a 6% share.

In Poland, refrigerated vessel exports contracted by an average annual rate of -10.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (-1.8% per year) and Lithuania (0.0% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per unit in 2022, dropping by -11.2% against the previous year. Over the period under review, the export price, however, continues to indicate a mild expansion. The pace of growth appeared the most rapid in 2017 an increase of 1,479% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the export prices remained at a lower figure.

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 Poland ($X per unit), while Ukraine ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+12.8%), while the other leaders experienced mixed trends in the export price figures.

Refrigerated Vessel Imports

Imports in Eastern Europe

In 2022, supplies from abroad of refrigerated vessels (ships) increased by 50% to X units for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2019 with an increase of 233% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, refrigerated vessel imports expanded markedly to $X in 2022. Overall, imports, however, saw a drastic downturn. The growth pace was the most rapid in 2019 with an increase of 491%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Russia (X units) represented the largest importer of refrigerated vessels (ships), achieving 67% of total imports. Lithuania (X units) took a 22% share (based on physical terms) of total imports, which put it in second place, followed by Poland (11%).

From 2012 to 2022, average annual rates of growth with regard to refrigerated vessel imports into Russia stood at -2.8%. Lithuania experienced a relatively flat trend pattern. Poland (-23.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Russia and Lithuania increased by +32 and +22 percentage points, respectively.

In value terms, Russia ($X) constitutes the largest market for imported refrigerated vessels (ships) in Eastern Europe, comprising 71% of total imports. The second position in the ranking was taken by Poland ($X), with a 20% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Russia stood at +5.6%. The remaining importing countries recorded the following average annual rates of imports growth: Poland (-18.1% per year) and Lithuania (0.0% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per unit, which is down by -25.8% against the previous year. Overall, the import price, however, showed a tangible increase. The pace of growth appeared the most rapid in 2015 an increase of 83%. Over the period under review, import prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Poland ($X per unit), while Lithuania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+8.0%).

Source: IndexBox Platform

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