Kenya: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Kenya

In 2022, the Kenyan refrigerator compressor market decreased by -0.6% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Refrigerator Compressor Exports

Exports from Kenya

In 2022, shipments abroad of compressors for refrigeration equipment increased by 62% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports saw a buoyant increase. The growth pace was the most rapid in 2017 when exports increased by 84%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, refrigerator compressor exports skyrocketed to $X in 2022. Overall, exports, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2019 when exports increased by 77% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Uganda (X units) was the main destination for refrigerator compressor exports from Kenya, accounting for a 40% share of total exports. Moreover, refrigerator compressor exports to Uganda exceeded the volume sent to the second major destination, Brazil (X units), twofold. The third position in this ranking was taken by South Sudan (X units), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Uganda totaled +25.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+7.8% per year) and South Sudan (+23.9% per year).

In value terms, Uganda ($X), Brazil ($X) and South Africa ($X) constituted the largest markets for refrigerator compressor exported from Kenya worldwide, with a combined 73% share of total exports. Democratic Republic of the Congo, South Sudan, Tanzania, Zambia, Burundi, Seychelles and Rwanda lagged somewhat behind, together accounting for a further 26%.

Seychelles, with a CAGR of +30.2%, 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, falling by -28.1% against the previous year. Over the period under review, the export price continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2020 when the average export price increased by 45% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Burundi ($X per unit), while the average price for exports to South Sudan ($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 Burundi (+26.9%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Compressor Imports

Imports into Kenya

In 2022, overseas purchases of compressors for refrigeration equipment increased by 15% to X units, rising for the second consecutive year after two years of decline. Over the period under review, total imports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.1% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 63% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, refrigerator compressor imports contracted to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 28%. Over the period under review, imports attained the maximum at $X in 2021, and then dropped in the following year.

Imports by Country

Brazil (X units), Slovakia (X units) and Thailand (X units) were the main suppliers of refrigerator compressor imports to Kenya, with a combined 52% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +95.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and China ($X) were the largest refrigerator compressor suppliers to Kenya, together accounting for 42% of total imports. Slovakia, Brazil, the Netherlands, Belgium, the United Arab Emirates, Thailand, Poland, the UK, Turkey and Romania lagged somewhat behind, together comprising a further 39%.

Among the main suppliers, Brazil, with a CAGR of +63.2%, 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

In 2022, the average refrigerator compressor import price amounted to $X per unit, which is down by -19.4% against the previous year. Overall, the import price recorded a pronounced setback. The most prominent rate of growth was recorded in 2019 when the average import price increased by 56%. The import price peaked at $X per unit in 2020; however, from 2021 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 Germany ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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