Germany: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Germany

In 2022, the German refrigerator compressor market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Refrigerator compressor consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Refrigerator Compressor Production in Germany

In value terms, refrigerator compressor production expanded significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 22% against the previous year. Refrigerator compressor production peaked in 2022 and is likely to see steady growth in the immediate term.

Refrigerator Compressor Exports

Exports from Germany

In 2022, approx. X units of compressors for refrigeration equipment were exported from Germany; with a decrease of -29.1% compared with 2021. Over the period under review, exports showed a noticeable curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 63%. 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. Overall, total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.1% against 2015 indices. The pace of growth appeared the most rapid in 2021 with an increase of 17%. As a result, the exports attained the peak of $X, and then dropped modestly in the following year.

Exports by Country

Spain (X units), the United States (X units) and China (X units) were the main destinations of refrigerator compressor exports from Germany, together accounting for 35% of total exports. Italy, France, South Africa, Turkey, Slovakia, Hungary, Poland, the Czech Republic, Mexico and the UK lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +10.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for refrigerator compressor exported from Germany were the United States ($X), Italy ($X) and China ($X), together comprising 33% of total exports. Spain, France, Turkey, Poland, the Czech Republic, South Africa, the UK, Slovakia, Hungary and Mexico lagged somewhat behind, together comprising a further 35%.

Hungary, with a CAGR of +13.4%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average refrigerator compressor export price stood at $X per unit in 2022, increasing by 34% against the previous year. Over the period under review, the export price saw prominent growth. The most prominent rate of growth was recorded in 2017 an increase of 46%. Over the period under review, the average export prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Hungary ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+16.1%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Compressor Imports

Imports into Germany

In 2022, imports of compressors for refrigeration equipment into Germany stood at X units, remaining constant against the year before. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 23%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, refrigerator compressor imports expanded markedly to $X in 2022. The total import value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 23%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

Japan (X units), China (X units) and Portugal (X units) were the main suppliers of refrigerator compressor imports to Germany, with a combined 62% share of total imports. Poland, Hungary, Thailand, Italy, Slovakia, the UK, Denmark, France, the United States and Brazil lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +33.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of compressors for refrigeration equipment to Germany, comprising 27% of total imports. The second position in the ranking was held by Portugal ($X), with a 13% share of total imports. It was followed by China, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+16.1% per year) and China (+12.5% per year).

Import Prices by Country

In 2022, the average refrigerator compressor import price amounted to $X per unit, increasing by 6% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 14% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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