Oman: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Oman

The Omani commercial refrigeration equipment market soared to $X in 2021, rising by 27% 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 recorded a relatively flat trend pattern. Commercial refrigeration equipment consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Commercial Refrigeration Equipment Exports

Exports from Oman

In 2021, the amount of refrigerating and freezing equipment and heat pumps (except household type equipment) exported from Oman skyrocketed to X units, with an increase of 61% against the year before. In general, exports saw a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 253%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, commercial refrigeration equipment exports soared to $X in 2021. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 173% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

Exports by Country

Brazil (X units) was the main destination for commercial refrigeration equipment exports from Oman, accounting for a 78% share of total exports. Moreover, commercial refrigeration equipment exports to Brazil exceeded the volume sent to the second major destination, Singapore (X units), sevenfold. Saudi Arabia (X units) ranked third in terms of total exports with a 3.5% share.

From 2012 to 2021, the average annual growth rate of volume to Brazil was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (0.0% per year) and Saudi Arabia (+57.2% per year).

In value terms, Brazil ($X) emerged as the key foreign market for refrigerating and freezing equipment and heat pumps (except household type equipment) exports from Oman, comprising 79% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 7.9% share of total exports. It was followed by Singapore, with a 6.5% share.

From 2012 to 2021, the average annual growth rate of value to Brazil was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+52.0% per year) and Singapore (0.0% per year).

Export Prices by Country

In 2021, the average commercial refrigeration equipment export price amounted to $X per unit, declining by -4.1% against the previous year. Overall, the export price, however, posted measured growth. The most prominent rate of growth was recorded in 2016 an increase of 439% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Qatar ($X per unit), while the average price for exports to Singapore ($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 Yemen (+82.2%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Oman

Commercial refrigeration equipment imports into Oman surged to X units in 2021, picking up by 20% compared with 2020. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 36%. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of 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 +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X units) constituted the largest commercial refrigeration equipment supplier to Oman, accounting for a 48% share of total imports. Moreover, commercial refrigeration equipment imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X units), threefold. Italy (X units) ranked third in terms of total imports with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.5% per year) and Italy (+1.1% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of refrigerating and freezing equipment and heat pumps (except household type equipment) to Oman, comprising 32% of total imports. The second position in the ranking was held by China ($X), with a 15% share of total imports. It was followed by Italy, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates stood at +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.6% per year) and Italy (-1.3% per year).

Import Prices by Country

The average commercial refrigeration equipment import price stood at $X per unit in 2021, with an increase of 16% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2018 when the average import price increased by 26%. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+23.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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