EU: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in the EU

In 2022, the EU refrigerator compressor market increased by 23% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Refrigerator Compressor Production in the EU

In value terms, refrigerator compressor production rose to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a mild descent. The most prominent rate of growth was recorded in 2021 with an increase of 30%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Refrigerator Compressor Exports

Exports in the EU

Refrigerator compressor exports dropped rapidly to X units in 2022, waning by -18.7% against 2021 figures. Over the period under review, exports continue to indicate a pronounced curtailment. The growth pace was the most rapid in 2021 when exports increased by 27% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, refrigerator compressor exports declined to $X in 2022. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 18% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X units) and Slovakia (X units) were the major exporters of compressors for refrigeration equipment in 2022, recording approx. 22% and 20% of total exports, respectively. Poland (X units) took an 11% share (based on physical terms) of total exports, which put it in second place, followed by France (9.4%), Hungary (7.4%), the Czech Republic (6.9%), Italy (6.2%), Austria (5.3%) and Spain (4.9%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Spain (with a CAGR of +14.3%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest refrigerator compressor supplier in the European Union, comprising 36% of total exports. The second position in the ranking was taken by France ($X), with a 13% share of total exports. It was followed by Slovakia, with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany stood at +3.6%. In the other countries, the average annual rates were as follows: France (-2.5% per year) and Slovakia (-2.0% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per unit, surging by 16% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.9%. The most prominent rate of growth was recorded in 2020 when the export price increased by 17% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

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 Germany ($X per unit), while Austria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+8.2%), while the other leaders experienced more modest paces of growth.

Refrigerator Compressor Imports

Imports in the EU

In 2022, approx. X units of compressors for refrigeration equipment were imported in the European Union; dropping by -5.7% on the previous year. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. As a result, imports attained the peak of X units, and then declined in the following year.

In value terms, refrigerator compressor imports reached $X in 2022. The total import value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 20%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Germany (X units), Italy (X units), Poland (X units) and Spain (X units) represented roughly 64% of total imports in 2022. It was distantly followed by Romania (X units) and France (X units), together committing a 12% share of total imports. The following importers - Slovakia (X units), the Czech Republic (X units), Hungary (X units), the Netherlands (X units) and Bulgaria (X units) - together made up 16% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +9.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constitutes the largest market for imported compressors for refrigeration equipment in the European Union, comprising 29% of total imports. The second position in the ranking was taken by Italy ($X), with a 14% share of total imports. It was followed by France, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany stood at +1.2%. The remaining importing countries recorded the following average annual rates of imports growth: Italy (+2.9% per year) and France (+2.3% per year).

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per unit, rising by 6.2% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 9.1%. Over the period under review, import prices attained the peak figure 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 France ($X per unit), while Hungary ($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 more modest paces of growth.

Source: IndexBox Platform

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