Iran: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Iran

After three years of decline, the Iranian commercial refrigeration equipment market increased by 61% to $X in 2021. In general, consumption, however, recorded a abrupt descent. Commercial refrigeration equipment consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Commercial Refrigeration Equipment Exports

Exports from Iran

In 2021, the amount of refrigerating and freezing equipment and heat pumps (except household type equipment) exported from Iran stood at X units, picking up by 3.2% on the previous year. In general, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 387% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, commercial refrigeration equipment exports expanded notably to $X in 2021. Overall, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 289%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for commercial refrigeration equipment exports from Iran, accounting for a 54% share of total exports. Moreover, commercial refrigeration equipment exports to the United Arab Emirates exceeded the volume sent to the second major destination, Turkey (X units), fivefold. The third position in this ranking was held by Georgia (X units), with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates stood at +11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+32.2% per year) and Georgia (+35.8% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for refrigerating and freezing equipment and heat pumps (except household type equipment) exports from Iran, comprising 38% of total exports. The second position in the ranking was taken by Turkey ($X), with a 10% share of total exports. It was followed by Afghanistan, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates stood at +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+21.8% per year) and Afghanistan (+16.8% per year).

Export Prices by Country

The average commercial refrigeration equipment export price stood at $X per unit in 2021, surging by 5.6% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 112% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Afghanistan ($X per unit), while the average price for exports to Georgia ($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 Romania (+51.4%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Iran

In 2021, supplies from abroad of refrigerating and freezing equipment and heat pumps (except household type equipment) was finally on the rise to reach X units after three years of decline. In general, imports, however, showed a deep downturn. Over the period under review, imports reached the peak figure at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, commercial refrigeration equipment imports skyrocketed to $X in 2021. Over the period under review, imports, however, faced a abrupt decrease. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Turkey (X units) constituted the largest commercial refrigeration equipment supplier to Iran, with a 58% share of total imports. Moreover, commercial refrigeration equipment imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was taken by Oman (X units), with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey stood at +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-18.3% per year) and Oman (+43.0% per year).

In value terms, Turkey ($X) constituted the largest supplier of refrigerating and freezing equipment and heat pumps (except household type equipment) to Iran, comprising 56% of total imports. The second position in the ranking was held by China ($X), with a 15% share of total imports. It was followed by the Netherlands, with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey totaled +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-17.7% per year) and the Netherlands (+7.8% per year).

Import Prices by Country

The average commercial refrigeration equipment import price stood at $X per unit in 2021, rising by 4.8% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 42% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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