Indonesia: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Indonesia

In 2021, the Indonesian commercial refrigeration equipment market increased by 1% to $X, rising for the third year in a row after two years of decline. Over the period under review, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +60.7% against 2018 indices. Commercial refrigeration equipment consumption peaked in 2021 and is likely to continue growth in the immediate term.

Commercial Refrigeration Equipment Exports

Exports from Indonesia

In 2021, shipments abroad of refrigerating and freezing equipment and heat pumps (except household type equipment) increased by 18% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2018 with an increase of 93% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, commercial refrigeration equipment exports surged to $X in 2021. Overall, exports, however, faced a abrupt descent. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

South Korea (X units), Vietnam (X units) and India (X units) were the main destinations of commercial refrigeration equipment exports from Indonesia, together comprising 46% of total exports. These countries were followed by Sudan, Papua New Guinea, Saudi Arabia, the Philippines, Japan, the United Arab Emirates, Nigeria, the Netherlands, Peru and Australia, which together accounted for a further 45%.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +165.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for commercial refrigeration equipment exported from Indonesia were South Korea ($X), Vietnam ($X) and Sudan ($X), together comprising 49% of total exports. These countries were followed by India, Saudi Arabia, the United Arab Emirates, Japan, Nigeria, Papua New Guinea, the Netherlands, the Philippines, Australia and Peru, which together accounted for a further 41%.

Peru, with a CAGR of +115.1%, saw the highest growth rate of 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 commercial refrigeration equipment export price stood at $X per unit in 2021, with an increase of 17% against the previous year. In general, the export price, however, saw a noticeable shrinkage. The growth pace was the most rapid in 2019 an increase of 20%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Indonesia

In 2021, approx. X units of refrigerating and freezing equipment and heat pumps (except household type equipment) were imported into Indonesia; stabilizing at 2020 figures. Overall, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.0% 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 decreased by -2.0% against 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 37%. Imports peaked at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, commercial refrigeration equipment imports reached $X in 2021. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when imports increased by 32%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of commercial refrigeration equipment to Indonesia, with a 79% share of total imports. Moreover, commercial refrigeration equipment imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), sixfold. The third position in this ranking was held by Malaysia (X units), with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+5.4% per year) and Malaysia (-2.0% per year).

In value terms, China ($X) constituted the largest supplier of refrigerating and freezing equipment and heat pumps (except household type equipment) to Indonesia, comprising 74% of total imports. The second position in the ranking was held by Thailand ($X), with a 9.1% share of total imports. It was followed by Malaysia, with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-1.1% per year) and Malaysia (-4.9% per year).

Import Prices by Country

In 2021, the average commercial refrigeration equipment import price amounted to $X per unit, rising by 3.9% against the previous year. Over the period under review, the import price, however, recorded a mild setback. The pace of growth was the most pronounced in 2018 an increase of 12%. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Thailand ($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 United States (+11.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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