Middle East: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in the Middle East

The Middle Eastern commercial refrigeration equipment market soared to $X in 2021, growing by 28% against the previous year. The market value increased at an average annual rate of +4.2% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed 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 the Middle East

In value terms, commercial refrigeration equipment production expanded remarkably to $X in 2021 estimated in export price. Overall, production posted prominent growth. The pace of growth was the most pronounced in 2015 with an increase of 130%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Commercial Refrigeration Equipment Exports

Exports in the Middle East

In 2021, approx. X units of refrigerating and freezing equipment and heat pumps (except household type equipment) were exported in the Middle East; jumping by 68% compared with the year before. Total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.9% over the last nine years. 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. Overall, exports recorded strong 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, reaching X units, which was near 88% of total exports in 2021. It was distantly followed by the United Arab Emirates (X units), committing a 7% 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. While the share of Turkey (+36 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-30.5 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest commercial refrigeration equipment supplier in the Middle East, comprising 90% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 5.5% share of total exports.

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

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2021, surging by 21% 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 reached 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 the Middle East

Commercial refrigeration equipment imports skyrocketed to X units in 2021, rising by 38% against 2020. The total import volume increased at an average annual rate of +1.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat 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 +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the five major importers of refrigerating and freezing equipment and heat pumps (except household type equipment), namely the United Arab Emirates, Turkey, Saudi Arabia, Israel and Iraq, represented more than two-thirds of total import. Oman (X units) held the next position in the ranking, followed by Kuwait (X units). All these countries together took approx. 10% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Israel (with a CAGR of +7.4%), 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, together accounting for 57% of total imports.

In terms of the main importing countries, Israel, with a CAGR of +9.0%, recorded the highest growth rate of 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 the Middle East stood at $X per unit in 2021, with an increase of 4.7% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 16% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per unit), while Iraq ($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

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