Eastern Europe: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Eastern Europe

After four years of growth, the East European commercial refrigeration equipment market decreased by -0.2% to $X in 2021. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X, leveling off in the following year.

Commercial Refrigeration Equipment Production in Eastern Europe

In value terms, commercial refrigeration equipment production contracted modestly to $X in 2021 estimated in export price. The total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -17.2% against 2017 indices. The pace of growth was the most pronounced in 2017 with an increase of 74% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Commercial Refrigeration Equipment Exports

Exports in Eastern Europe

In 2021, shipments abroad of refrigerating and freezing equipment and heat pumps (except household type equipment) was finally on the rise to reach X units after three years of decline. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 27% against the previous year. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, commercial refrigeration equipment exports surged to $X in 2021. Total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, the Czech Republic (X units), distantly followed by Poland (X units), Russia (X units), Hungary (X units), Lithuania (X units), Slovakia (X units), Ukraine (X units) and Romania (X units) were the largest exporters of refrigerating and freezing equipment and heat pumps (except household type equipment), together committing 95% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Poland (with a CAGR of +12.6%), while the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X) remains the largest commercial refrigeration equipment supplier in Eastern Europe, comprising 44% of total exports. The second position in the ranking was taken by Poland ($X), with a 20% share of total exports. It was followed by Russia, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the Czech Republic stood at +4.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Poland (+16.1% per year) and Russia (+12.4% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per unit in 2021, rising by 13% against the previous year. Export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, commercial refrigeration equipment export price increased by +39.3% against 2015 indices. The growth pace was the most rapid in 2015 an increase of 15%. The level of export peaked in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, 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 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+12.1%), while the other leaders experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports in Eastern Europe

In 2021, approx. X units of refrigerating and freezing equipment and heat pumps (except household type equipment) were imported in Eastern Europe; growing by 31% on 2020 figures. Total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +85.9% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, commercial refrigeration equipment imports skyrocketed to $X in 2021. Total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +118.0% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia was the main importing country with an import of around X units, which accounted for 37% of total imports. Poland (X units) took the second position in the ranking, distantly followed by the Czech Republic (X units), Romania (X units), Hungary (X units) and Ukraine (X units). All these countries together held approx. 46% share of total imports. Lithuania (X units) and Slovakia (X units) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Slovakia (with a CAGR of +15.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest commercial refrigeration equipment importing markets in Eastern Europe were Poland ($X), Russia ($X) and the Czech Republic ($X), together accounting for 57% of total imports. Romania, Hungary, Slovakia, Lithuania and Ukraine lagged somewhat behind, together accounting for a further 34%.

Slovakia, with a CAGR of +15.8%, 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 2021, the import price in Eastern Europe amounted to $X per unit, picking up by 3.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2018 when the import price increased by 12%. Over the period under review, import prices hit record highs in 2021 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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