Iran: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Iran

The Iranian refrigerator compressor market rose modestly to $X in 2022, surging by 1.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a relatively flat trend pattern. Refrigerator compressor consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Refrigerator Compressor Exports

Exports from Iran

In 2022, exports of compressors for refrigeration equipment from Iran fell remarkably to X units, declining by -22.3% on 2021. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 359%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, refrigerator compressor exports fell remarkably to $X in 2022. Over the period under review, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 298% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The Czech Republic (X units) was the main destination for refrigerator compressor exports from Iran, with a 70% share of total exports. Moreover, refrigerator compressor exports to the Czech Republic exceeded the volume sent to the second major destination, Uzbekistan (X units), threefold.

From 2012 to 2022, the average annual growth rate of volume to the Czech Republic totaled -7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (+97.6% per year) and Azerbaijan (-53.0% per year).

In value terms, the Czech Republic ($X) remains the key foreign market for compressors for refrigeration equipment exports from Iran, comprising 69% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with a 26% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the Czech Republic amounted to -14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (+94.5% per year) and Azerbaijan (-43.4% per year).

Export Prices by Country

The average refrigerator compressor export price stood at $X per unit in 2022, shrinking by -6.3% against the previous year. Overall, the export price, however, saw a buoyant expansion. The growth pace was the most rapid in 2015 an increase of 109% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Azerbaijan ($X per unit), while the average price for exports to Uzbekistan ($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 Azerbaijan (+20.5%), while the prices for the other major destinations experienced a decline.

Refrigerator Compressor Imports

Imports into Iran

Refrigerator compressor imports into Iran expanded remarkably to X units in 2022, growing by 5.9% against 2021. In general, total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.4% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by 60% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, refrigerator compressor imports fell modestly to $X in 2022. Over the period under review, imports, however, showed a perceptible descent. The pace of growth appeared the most rapid in 2017 when imports increased by 31% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main refrigerator compressor supplier to Iran, with a 96% share of total imports. It was followed by Singapore (X units), with a 0.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +8.4%.

In value terms, China ($X) constituted the largest supplier of compressors for refrigeration equipment to Iran, comprising 86% of total imports. The second position in the ranking was held by Singapore ($X), with a 0.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +9.5%.

Import Prices by Country

The average refrigerator compressor import price stood at $X per unit in 2022, waning by -7.7% against the previous year. In general, the import price showed a perceptible reduction. The most prominent rate of growth was recorded in 2016 when the average import price increased by 55%. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices failed to regain momentum.

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 Singapore ($X per unit), while the price for China stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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