Europe: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Europe

In 2022, the Europe refrigerator compressor market increased by 21% 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 +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Refrigerator Compressor Production in Europe

In value terms, refrigerator compressor production totaled $X in 2022 estimated in export price. In general, production, however, showed a slight reduction. The most prominent rate of growth was recorded in 2021 when the production volume increased by 29% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Refrigerator Compressor Exports

Exports in Europe

In 2022, the amount of compressors for refrigeration equipment exported in Europe fell dramatically to X units, with a decrease of -18.6% on 2021 figures. In general, exports saw a perceptible decrease. The growth pace was the most rapid in 2021 with an increase of 26%. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, refrigerator compressor exports shrank modestly to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Germany (X units) and Slovakia (X units) were the major exporters of compressors for refrigeration equipment in Europe, together comprising 41% of total exports. Poland (X units) held the next position in the ranking, followed by France (X units), Hungary (X units), the Czech Republic (X units), Italy (X units), Austria (X units) and Spain (X units). All these countries together held approx. 49% 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 Spain (with a CAGR of +14.3%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest refrigerator compressor supplier in Europe, comprising 34% of total exports. The second position in the ranking was taken by France ($X), with a 12% share of total exports. It was followed by Slovakia, with a 9% share.

In Germany, refrigerator compressor exports expanded at an average annual rate of +3.6% over the period from 2012-2022. 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 Europe amounted to $X per unit, growing by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Europe

In 2022, the amount of compressors for refrigeration equipment imported in Europe contracted to X units, reducing by -3.5% against 2021 figures. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 28% against the previous year. As a result, imports reached the peak of X units, and then contracted 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 +1.6% 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 when imports increased by 20%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

The purchases of the five major importers of compressors for refrigeration equipment, namely Germany, Italy, Russia, Poland and Spain, represented more than half of total import. Romania (X units) held a 5.3% share (based on physical terms) of total imports, which put it in second place, followed by the UK (5.1%). France (X units), Slovakia (X units), the Czech Republic (X units), Hungary (X units), the Netherlands (X units) and Bulgaria (X units) followed a long way behind the leaders.

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 ($X) constitutes the largest market for imported compressors for refrigeration equipment in Europe, comprising 25% of total imports. The second position in the ranking was held by Italy ($X), with a 12% share of total imports. It was followed by France, with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany stood at +1.2%. In the other countries, the average annual rates were as follows: Italy (+2.9% per year) and France (+2.3% per year).

Import Prices by Country

In 2022, the import price in Europe amounted to $X per unit, surging by 4.1% against the previous year. In general, the import price, however, showed a slight decrease. The pace of growth was the most pronounced in 2020 when the import price increased by 7.9% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 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