Japan: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Japan

The Japanese commercial refrigeration equipment market was estimated at $X in 2021, almost unchanged from the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Commercial Refrigeration Equipment Production in Japan

In value terms, commercial refrigeration equipment production dropped to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 13%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Commercial Refrigeration Equipment Exports

Exports from Japan

In 2021, shipments abroad of refrigerating and freezing equipment and heat pumps (except household type equipment) increased by 13% to X units, rising for the third year in a row after two years of decline. Overall, total exports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +17.5% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 45%. Over the period under review, the exports attained the maximum at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, commercial refrigeration equipment exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Taiwan (Chinese) (X units), the United States (X units) and France (X units) were the main destinations of commercial refrigeration equipment exports from Japan, together comprising 35% of total exports.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +30.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), China ($X) and the United States ($X) were the largest markets for commercial refrigeration equipment exported from Japan worldwide, together comprising 43% of total exports.

In terms of the main countries of destination, France, with a CAGR of +35.4%, saw the highest rates of growth with regard to 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

In 2021, the average commercial refrigeration equipment export price amounted to $X per unit, growing by 19% against the previous year. Overall, export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. 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 +82.5% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 29% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Vietnam ($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 China (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Japan

In 2021, commercial refrigeration equipment imports into Japan stood at X units, increasing by 15% on 2020. Overall, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +8.9% 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 -1.1% against 2019 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 21%. Over the period under review, imports reached the peak figure at X units in 2019; afterwards, it flattened through to 2021.

In value terms, commercial refrigeration equipment imports expanded sharply to $X in 2021. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -1.4% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 39% against the previous year. 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 commercial refrigeration equipment supplier to Japan, with a 67% share of total imports. Moreover, commercial refrigeration equipment imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), sixfold. The United States (X units) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+26.7% per year) and the United States (+3.0% per year).

In value terms, the largest commercial refrigeration equipment suppliers to Japan were China ($X), South Korea ($X) and the United States ($X), together accounting for 76% of total imports.

In terms of the main suppliers, South Korea, with a CAGR of +35.5%, saw the highest rates of growth with regard to the value of imports, 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, falling by -1.8% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 18% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the average 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 South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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