Italy: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Italy

In 2021, the Italian commercial refrigeration equipment market increased by 3.8% to $X, rising for the second year in a row after two years of decline. Overall, consumption saw a relatively flat trend pattern. Commercial refrigeration equipment consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Commercial Refrigeration Equipment Production in Italy

In value terms, commercial refrigeration equipment production surged to $X in 2021 estimated in export price. Over the period under review, the total production indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, production hit record highs at $X in 2018; afterwards, it flattened through to 2021.

Commercial Refrigeration Equipment Exports

Exports from Italy

In 2021, approx. X units of refrigerating and freezing equipment and heat pumps (except household type equipment) were exported from Italy; growing by 22% compared with the year before. Overall, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, commercial refrigeration equipment exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X units), Germany (X units) and Spain (X units) were the main destinations of commercial refrigeration equipment exports from Italy, together comprising 28% of total exports. These countries were followed by the UK, Belgium, the United Arab Emirates, the United States, the Netherlands, Turkey, Poland, Saudi Arabia, Israel and Russia, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +17.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for commercial refrigeration equipment exported from Italy were France ($X), Germany ($X) and the UK ($X), together comprising 32% of total exports. Spain, the United States, Belgium, the Netherlands, Poland, Israel, the United Arab Emirates, Saudi Arabia, Turkey and Russia lagged somewhat behind, together comprising a further 29%.

In terms of the main countries of destination, the United States, with a CAGR of +15.7%, recorded the highest growth rate of the value of exports, 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, growing by 9.7% against the previous year. In general, the export price, however, saw a slight decline. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a 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 the United States ($X per unit), while the average price for exports to Turkey ($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 Germany (+0.6%), while the prices for the other major destinations experienced mixed trend patterns.

Commercial Refrigeration Equipment Imports

Imports into Italy

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 two years of decline. Over the period under review, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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. In general, imports posted a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest commercial refrigeration equipment supplier to Italy, with a 33% share of total imports. Moreover, commercial refrigeration equipment imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X units), threefold. Germany (X units) ranked third in terms of total imports with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+3.2% per year) and Germany (+12.5% per year).

In value terms, China ($X) constituted the largest supplier of refrigerating and freezing equipment and heat pumps (except household type equipment) to Italy, comprising 32% of total imports. The second position in the ranking was held by France ($X), with a 12% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +19.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+1.2% per year) and Germany (+14.5% per year).

Import Prices by Country

The average commercial refrigeration equipment import price stood at $X per unit in 2021, jumping by 22% against the previous year. Over the last nine years, it increased at an average annual rate of +3.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Czech Republic ($X per unit), while the price for Belgium ($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 Czech Republic (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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