Luxembourg: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Luxembourg

After two years of growth, the Luxembourg commercial refrigeration equipment market decreased by -54.7% to $X in 2021. Overall, consumption saw a noticeable slump. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Commercial Refrigeration Equipment Production in Luxembourg

In value terms, commercial refrigeration equipment production surged to $X in 2021 estimated in export price. Overall, production continues to indicate a remarkable increase. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Commercial Refrigeration Equipment Exports

Exports from Luxembourg

In 2021, shipments abroad of refrigerating and freezing equipment and heat pumps (except household type equipment) was finally on the rise to reach X units after two years of decline. Over the period under review, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 462%. As a result, the exports reached the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, commercial refrigeration equipment exports surged to $X in 2021. In general, exports saw a buoyant expansion. The growth pace was the most rapid in 2018 when exports increased by 444%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

France (X units), Belgium (X units) and Indonesia (X units) were the main destinations of commercial refrigeration equipment exports from Luxembourg, together comprising 23% of total exports. India, Germany, Turkey, Pakistan, Madagascar, the Netherlands, the United States, Cote d'Ivoire, Afghanistan and Democratic Republic of the Congo lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2021, the biggest increases were recorded for Madagascar (with a CAGR of +40.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for commercial refrigeration equipment exported from Luxembourg were Indonesia ($X), Pakistan ($X) and the United States ($X), together accounting for 22% of total exports. These countries were followed by Madagascar, Afghanistan, Cote d'Ivoire, Democratic Republic of the Congo, India, France, Turkey, Belgium, Germany and the Netherlands, which together accounted for a further 35%.

In terms of the main countries of destination, Madagascar, with a CAGR of +58.6%, recorded the highest growth rate of 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

The average commercial refrigeration equipment export price stood at $X per unit in 2021, picking up by 11% against the previous year. Overall, the export price saw a strong increase. The growth pace was the most rapid in 2020 when the average export price increased by 143%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to the Netherlands ($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 Indonesia (+15.3%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Luxembourg

In 2021, commercial refrigeration equipment imports into Luxembourg contracted notably to X units, falling by -22% on 2020. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 84% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, commercial refrigeration equipment imports contracted to $X in 2021. Overall, total imports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 22%. Imports peaked at $X in 2020, and then shrank in the following year.

Imports by Country

Germany (X units), France (X units) and Belgium (X units) were the main suppliers of commercial refrigeration equipment imports to Luxembourg, together comprising 58% of total imports. These countries were followed by Italy, Poland, Austria and Spain, which together accounted for a further 38%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +25.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest commercial refrigeration equipment suppliers to Luxembourg were Germany ($X), France ($X) and Belgium ($X), together comprising 62% of total imports. These countries were followed by Italy, Austria, Spain and Poland, which together accounted for a further 31%.

Poland, with a CAGR of +20.8%, saw the highest rates of growth with regard to the value of imports, in terms of 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 commercial refrigeration equipment import price stood at $X per unit in 2021, increasing by 11% against the previous year. In general, import price indicated a tangible expansion 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 import price increased by +93.7% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 39%. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :