Kazakhstan: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Kazakhstan

The Kazakh refrigerator compressor market skyrocketed to $X in 2022, increasing by 99% 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). Overall, consumption continues to indicate a prominent expansion. Refrigerator compressor consumption peaked in 2022 and is likely to continue growth in the immediate term.

Refrigerator Compressor Exports

Exports from Kazakhstan

After four years of growth, shipments abroad of compressors for refrigeration equipment decreased by -47.5% to X units in 2022. Overall, exports, however, recorded a perceptible increase. The most prominent rate of growth was recorded in 2016 when exports increased by 847% against the previous year. The exports peaked at X units in 2021, and then reduced dramatically in the following year.

In value terms, refrigerator compressor exports soared to $X in 2022. Over the period under review, exports, however, enjoyed a perceptible increase. The pace of growth appeared the most rapid in 2016 when exports increased by 1,768% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Uzbekistan (X units) was the main destination for refrigerator compressor exports from Kazakhstan, accounting for a 56% share of total exports. Moreover, refrigerator compressor exports to Uzbekistan exceeded the volume sent to the second major destination, Kyrgyzstan (X units), fivefold. The third position in this ranking was taken by Spain (X units), with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume to Uzbekistan totaled +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+18.2% per year) and Spain (+20.1% per year).

In value terms, Russia ($X), Kyrgyzstan ($X) and Uzbekistan ($X) constituted the largest markets for refrigerator compressor exported from Kazakhstan worldwide, together comprising 87% of total exports.

Russia, with a CAGR of +68.6%, 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

In 2022, the average refrigerator compressor export price amounted to $X per unit, with an increase of 202% against the previous year. In general, the export price saw a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Azerbaijan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+10.5%), while the prices for the other major destinations experienced mixed trend patterns.

Refrigerator Compressor Imports

Imports into Kazakhstan

In 2022, approx. X units of compressors for refrigeration equipment were imported into Kazakhstan; growing by 115% on 2021 figures. Over the period under review, imports saw prominent growth. The growth pace was the most rapid in 2017 with an increase of 132% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, refrigerator compressor imports soared to $X in 2022. Overall, imports showed temperate growth. The growth pace was the most rapid in 2014 with an increase of 110% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of refrigerator compressor to Kazakhstan, with a 89% share of total imports. Moreover, refrigerator compressor imports from China exceeded the figures recorded by the second-largest supplier, Russia (X units), more than tenfold. The third position in this ranking was held by South Korea (X units), with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +22.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-2.1% per year) and South Korea (+25.7% per year).

In value terms, Russia ($X), China ($X) and South Korea ($X) appeared to be the largest refrigerator compressor suppliers to Kazakhstan, with a combined 69% share of total imports.

South Korea, with a CAGR of +19.4%, recorded the highest rates of growth with regard to 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

The average refrigerator compressor import price stood at $X per unit in 2022, dropping by -31% against the previous year. In general, the import price showed a abrupt descent. The pace of growth was the most pronounced in 2014 an increase of 151%. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average 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 Russia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+10.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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