Israel: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Israel

The Israeli commercial refrigeration equipment market soared to $X in 2021, picking up by 38% 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). Over the period under review, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +9.4% 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 +90.7% against 2015 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Commercial Refrigeration Equipment Exports

Exports from Israel

In 2021, commercial refrigeration equipment exports from Israel soared to X units, with an increase of 43% against 2020. In general, exports showed mild growth. The growth pace was the most rapid in 2016 with an increase of 162% against the previous year. Over the period under review, the exports attained the maximum at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, commercial refrigeration equipment exports surged to $X in 2021. Over the period under review, exports enjoyed a prominent increase. The pace of growth was the most pronounced in 2017 when exports increased by 163% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The UK (X units), the United States (X units) and Poland (X units) were the main destinations of commercial refrigeration equipment exports from Israel, with a combined 61% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +136.1%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), the United States ($X) and Poland ($X) constituted the largest markets for commercial refrigeration equipment exported from Israel worldwide, with a combined 58% share of total exports.

Poland, with a CAGR of +163.4%, recorded 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 commercial refrigeration equipment export price stood at $X per unit in 2021, almost unchanged from the previous year. Overall, export price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, commercial refrigeration equipment export price increased by +68.5% against 2016 indices. The pace of growth appeared the most rapid in 2017 when the average export price increased by 46% against the previous year. The export price peaked in 2021 and is likely to see steady growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Germany ($X per unit) and the United States ($X per unit), while the average price for exports to China ($X per unit) and Poland ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Israel

In 2021, the amount of refrigerating and freezing equipment and heat pumps (except household type equipment) imported into Israel soared to X units, increasing by 32% on the year before. In general, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +33.1% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, commercial refrigeration equipment imports soared to $X in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +9.0% 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 increased by +102.0% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X units), China (X units) and France (X units) were the main suppliers of commercial refrigeration equipment imports to Israel, together comprising 64% of total imports. These countries were followed by Turkey, the United States, Germany, Japan, Belgium, Ireland and the UK, which together accounted for a further 22%.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +27.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), China ($X) and Turkey ($X) constituted the largest commercial refrigeration equipment suppliers to Israel, with a combined 62% share of total imports. These countries were followed by France, the United States, Germany, Japan, Belgium, Ireland and the UK, which together accounted for a further 21%.

Japan, with a CAGR of +27.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average commercial refrigeration equipment import price stood at $X per unit in 2021, growing by 6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2018 an increase of 12% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the near future.

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 Turkey ($X per unit), while the price for the United States ($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 UK (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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