New Zealand: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in New Zealand

The New Zealand refrigerator compressor market contracted modestly to $X in 2022, dropping by -1.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a abrupt shrinkage. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Refrigerator Compressor Exports

Exports from New Zealand

Refrigerator compressor exports from New Zealand reduced rapidly to X units in 2022, with a decrease of -58.8% on the year before. In general, exports saw a deep reduction. The pace of growth was the most pronounced in 2021 when exports increased by 165%. Over the period under review, the exports reached the peak figure at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, refrigerator compressor exports shrank rapidly to $X in 2022. Overall, exports showed a pronounced setback. The growth pace was the most rapid in 2019 with an increase of 341%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Australia (X units) was the main destination for refrigerator compressor exports from New Zealand, accounting for a 67% share of total exports. Moreover, refrigerator compressor exports to Australia exceeded the volume sent to the second major destination, Fiji (X units), more than tenfold. The third position in this ranking was held by China (X units), with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Australia amounted to -6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Fiji (-11.7% per year) and China (+26.0% per year).

In value terms, Australia ($X) remains the key foreign market for compressors for refrigeration equipment exports from New Zealand, comprising 48% of total exports. The second position in the ranking was held by Fiji ($X), with a 19% share of total exports. It was followed by Samoa, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia amounted to -4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Fiji (+0.1% per year) and Samoa (+6.5% per year).

Export Prices by Country

In 2022, the average refrigerator compressor export price amounted to $X per unit, rising by 32% against the previous year. In general, the export price saw a prominent expansion. The pace of growth appeared the most rapid in 2019 an increase of 133%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Fiji ($X per unit), while the average price for exports to Thailand ($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 China (+28.7%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Compressor Imports

Imports into New Zealand

In 2022, refrigerator compressor imports into New Zealand fell to X units, declining by -6.5% compared with the year before. Over the period under review, imports recorded a abrupt slump. The pace of growth was the most pronounced in 2014 with an increase of 15%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, refrigerator compressor imports shrank to $X in 2022. In general, imports continue to indicate a perceptible slump. The pace of growth appeared the most rapid in 2021 with an increase of 25%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X units), China (X units) and Slovakia (X units) were the main suppliers of refrigerator compressor imports to New Zealand, with a combined 77% share of total imports. Japan, Australia, the United States, Malaysia, Germany, Mexico, Singapore and Brazil lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +12.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), China ($X) and the United States ($X) were the largest refrigerator compressor suppliers to New Zealand, with a combined 54% share of total imports. Australia, Japan, Germany, Slovakia, Malaysia, Mexico, Singapore and Brazil lagged somewhat behind, together accounting for a further 28%.

In terms of the main suppliers, Mexico, with a CAGR of +18.1%, 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

The average refrigerator compressor import price stood at $X per unit in 2022, flattening at the previous year. Overall, the import price posted a remarkable increase. The most prominent rate of growth was recorded in 2017 when the average import price increased by 97%. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+27.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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