MENA: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in MENA

The MENA's commercial refrigeration equipment market soared to $X in 2021, with an increase of 26% against the previous year. The market value increased at an average annual rate of +4.0% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Commercial Refrigeration Equipment Production in MENA

In value terms, commercial refrigeration equipment production expanded sharply to $X in 2021 estimated in export price. Overall, production posted a buoyant increase. The growth pace was the most rapid in 2015 when the production volume increased by 129%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Commercial Refrigeration Equipment Exports

Exports in MENA

In 2021, the amount of refrigerating and freezing equipment and heat pumps (except household type equipment) exported in MENA surged to X units, increasing by 69% on the previous year's figure. Total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, commercial refrigeration equipment exports soared to $X in 2021. In general, exports posted prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey prevails in exports structure, resulting at X units, which was near 87% of total exports in 2021. It was distantly followed by the United Arab Emirates (X units), committing a 6.9% share of total exports.

Turkey was also the fastest-growing in terms of the refrigerating and freezing equipment and heat pumps (except household type equipment) exports, with a CAGR of +13.2% from 2012 to 2021. The United Arab Emirates (-11.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey increased by +35 percentage points.

In value terms, Turkey ($X) remains the largest commercial refrigeration equipment supplier in MENA, comprising 89% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 5.4% share of total exports.

In Turkey, commercial refrigeration equipment exports expanded at an average annual rate of +13.0% over the period from 2012-2021.

Export Prices by Country

The export price in MENA stood at $X per unit in 2021, jumping by 20% against the previous year. Over the last nine years, it increased at an average annual rate of +3.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the United Arab Emirates totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.8%).

Commercial Refrigeration Equipment Imports

Imports in MENA

In 2021, approx. X units of refrigerating and freezing equipment and heat pumps (except household type equipment) were imported in MENA; increasing by 35% compared with 2020 figures. The total import volume increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The volume of import peaked at X units in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, commercial refrigeration equipment imports soared to $X in 2021. The total import value increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X units), Turkey (X units), Saudi Arabia (X units), Israel (X units) and Iraq (X units) represented the key importer of refrigerating and freezing equipment and heat pumps (except household type equipment) in MENA, comprising 69% of total import. It was distantly followed by Egypt (X units) and Oman (X units), together constituting a 9.3% share of total imports. Kuwait (X units), Morocco (X units), Bahrain (X units), Libya (X units), Algeria (X units) and Yemen (X units) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Yemen (with a CAGR of +12.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Israel ($X) constituted the countries with the highest levels of imports in 2021, with a combined 48% share of total imports.

In terms of the main importing countries, Israel, with a CAGR of +9.0%, recorded 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

The import price in MENA stood at $X per unit in 2021, rising by 4.6% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 12% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Algeria ($X per unit), while Yemen ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform