Lithuania: Commercial Refrigeration Equipment Market 2020

Commercial Refrigeration Equipment Market Size in Lithuania

The revenue of the commercial refrigeration equipment market in Lithuania amounted to $X in 2018, going down by -X% against the previous year. In general, commercial refrigeration equipment consumption, however, continues to indicate a temperate decline. The pace of growth appeared the most rapid in 2017 with an increase of X% y-o-y. Over the period under review, the commercial refrigeration equipment market reached its peak figure level at $X in 2007; however, from 2008 to 2018, consumption remained at a lower figure.

Commercial Refrigeration Equipment Production in Lithuania

In value terms, commercial refrigeration equipment production amounted to $X in 2018 estimated in export prices. Over the period under review, commercial refrigeration equipment production continues to indicate strong growth. The most prominent rate of growth was recorded in 2011 when production volume increased by X% against the previous year. Lithuania commercial refrigeration equipment production peaked at $X in 2013; however, from 2014 to 2018, production remained at a lower figure.

Commercial Refrigeration Equipment Exports

Exports from Lithuania

In 2018, the amount of refrigerating and freezing equipment and heat pumps (except household type equipment) exported from Lithuania stood at X units, increasing by X% against the previous year. Overall, commercial refrigeration equipment exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2010 when exports increased by X% y-o-y. Lithuania exports peaked in 2018 and are likely to continue its growth in the near future.

In value terms, commercial refrigeration equipment exports amounted to $X in 2018. Over the period under review, commercial refrigeration equipment exports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2011 when exports increased by X% year-to-year. Lithuania exports peaked at $X in 2013; however, from 2014 to 2018, exports failed to regain their momentum.

Exports by Country

In 2018, China (X units), distantly followed by Italy (X units), France (X units), Mexico (X units), the U.S. (X units), Singapore (X units) and Germany (X units) were the major exporters of refrigerating and freezing equipment and heat pumps (except household type equipment), together generating X% of total exports. South Korea (X units), Ireland (X units), Denmark (X units), Turkey (X units) and Belgium (X units) took a little share of total exports.

From 2007 to 2018, average annual rates of growth with regard to commercial refrigeration equipment exports from China stood at +X%. At the same time, Ireland (+X%), Singapore (+X%), France (+X%), Italy (+X%), South Korea (+X%), Belgium (+X%), Denmark (+X%), Mexico (+X%) and Germany (+X%) displayed positive paces of growth. Moreover, Ireland emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Turkey experienced a relatively flat trend pattern. By contrast, the U.S. (-X%) illustrated a downward trend over the same period. While the share of Italy (+X p.p.), France (+X p.p.), Singapore (+X p.p.), China (+X p.p.), South Korea (+X p.p.), Mexico (+X p.p.) and Ireland (+X p.p.) increased significantly in terms of the global exports from 2007-2018, the share of the U.S. (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest commercial refrigeration equipment markets from Lithuania were China ($X), Italy ($X) and the U.S. ($X), together comprising X% of total exports. France, Germany, Mexico, Singapore, Ireland, Turkey, South Korea, Denmark, Belgium and Lithuania lagged somewhat behind, together accounting for a further X recorded the highest growth rate of exports, among the main exporting countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the commercial refrigeration equipment export price in Lithuania amounted to $X per unit, dropping by -X% against the previous year. Overall, the commercial refrigeration equipment export price continues to indicate a deep deduction. The pace of growth appeared the most rapid in 2017 an increase of X% y-o-y. Over the period under review, the export prices for refrigerating and freezing equipment and heat pumps (except household type equipment) attained their peak figure at $X per unit in 2007; however, from 2008 to 2018, export prices failed to regain their momentum.

Prices varied noticeably by the country of origin; the country with the highest price was the U.S. ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other leaders experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Lithuania

In 2018, the amount of refrigerating and freezing equipment and heat pumps (except household type equipment) imported into Lithuania totaled X units, jumping by X% against the previous year. In general, commercial refrigeration equipment imports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2011 with an increase of X% y-o-y. Lithuania imports peaked in 2018 and are likely to see steady growth in the immediate term.

In value terms, commercial refrigeration equipment imports totaled $X in 2018. Overall, commercial refrigeration equipment imports continue to indicate a modest expansion. The most prominent rate of growth was recorded in 2011 with an increase of X% y-o-y. Lithuania imports peaked in 2018 and are likely to continue its growth in the near future.

Imports by Country

In 2018, the U.S. (X units), distantly followed by Germany (X units) and China (X units) represented the major importers of refrigerating and freezing equipment and heat pumps (except household type equipment), together achieving X% of total imports. Russia (X units), Indonesia (X units), France (X units), Australia (X units), Mexico (X units), the UK (X units), the Philippines (X units), the United Arab Emirates (X units) and Turkey (X units) took a relatively small share of total imports.

Imports into the U.S. increased at an average annual rate of +X% from 2007 to 2018. At the same time, Indonesia (+X%), Germany (+X%), Mexico (+X%) and France (+X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. The Philippines, Russia and Australia experienced a relatively flat trend pattern. By contrast, the UK (-X%), China (-X%), the United Arab Emirates (-X%) and Turkey (-X%) illustrated a downward trend over the same period. The U.S. (+X p.p.), Germany (+X p.p.) and Indonesia (+X p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest commercial refrigeration equipment importing markets into Lithuania were the U.S. ($X), Germany ($X) and France ($X), together comprising X% of total imports. These countries were followed by China, the UK, Australia, Mexico, Russia, the United Arab Emirates, Turkey, the Philippines, Indonesia and Lithuania, which together accounted for a further X terms of the main importing countries, Indonesia recorded the highest rates of growth with regard to imports, over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The commercial refrigeration equipment import price in Lithuania stood at $X per unit in 2018, increasing by X% against the previous year. Overall, the commercial refrigeration equipment import price, however, continues to indicate a deep shrinkage. The growth pace was the most rapid in 2012 when the import price increased by X% y-o-y. Over the period under review, the import prices for refrigerating and freezing equipment and heat pumps (except household type equipment) reached their maximum at $X per unit in 2009; however, from 2010 to 2018, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was France ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Australia, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform