Jordan: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Jordan

The Jordanian refrigerator compressor market reduced to $X in 2022, with a decrease of -5.8% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Refrigerator Compressor Production in Jordan

In value terms, refrigerator compressor production contracted to $X in 2022 estimated in export price. Over the period under review, production showed a mild slump. The pace of growth was the most pronounced in 2016 with an increase of 44%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Refrigerator Compressor Exports

Exports from Jordan

In 2022, approx. X units of compressors for refrigeration equipment were exported from Jordan; with an increase of 13% against 2021 figures. Over the period under review, exports enjoyed resilient growth. The growth pace was the most rapid in 2014 when exports increased by 298% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, refrigerator compressor exports dropped significantly to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 282%. As a result, the exports attained the peak of $X, and then dropped dramatically in the following year.

Exports by Country

Free Zones (X units) was the main destination for refrigerator compressor exports from Jordan, with a 95% share of total exports. It was followed by Oman (X units), with a 2.3% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Free Zones amounted to +18.3%.

In value terms, Free Zones ($X) emerged as the key foreign market for compressors for refrigeration equipment exports from Jordan, comprising 56% of total exports. The second position in the ranking was held by Oman ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Free Zones totaled +10.6%.

Export Prices by Country

In 2022, the average refrigerator compressor export price amounted to $X per unit, falling by -57.9% against the previous year. In general, the export price faced a abrupt slump. The most prominent rate of growth was recorded in 2020 an increase of 133% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Oman ($X per unit), while the average price for exports to Free Zones totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+4.8%), while the prices for the other major destinations experienced mixed trend patterns.

Refrigerator Compressor Imports

Imports into Jordan

In 2022, refrigerator compressor imports into Jordan soared to X units, jumping by 33% compared with the year before. Over the period under review, imports saw resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 47%. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, refrigerator compressor imports contracted markedly to $X in 2022. In general, total imports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by 43% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest refrigerator compressor supplier to Jordan, accounting for a 37% share of total imports. Moreover, refrigerator compressor imports from China exceeded the figures recorded by the second-largest supplier, Slovakia (X units), fivefold. Slovenia (X units) ranked third in terms of total imports with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+18.6% per year) and Slovenia (+15.4% per year).

In value terms, China ($X), Taiwan (Chinese) ($X) and France ($X) appeared to be the largest refrigerator compressor suppliers to Jordan, together comprising 54% of total imports.

Taiwan (Chinese), with a CAGR of +97.0%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average refrigerator compressor import price amounted to $X per unit, falling by -47.9% against the previous year. Overall, the import price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2017 an increase of 60% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Thailand ($X per unit), while the price for Slovenia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+5.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform