Pakistan: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Pakistan

The Pakistani commercial refrigeration equipment market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Commercial refrigeration equipment consumption peaked in 2021 and is likely to continue growth in years to come.

Commercial Refrigeration Equipment Exports

Exports from Pakistan

In 2021, after two years of growth, there was significant decline in overseas shipments of refrigerating and freezing equipment and heat pumps (except household type equipment), when their volume decreased by -42.2% to X units. In general, exports recorded a sharp curtailment. The pace of growth appeared the most rapid in 2016 with an increase of 134% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, commercial refrigeration equipment exports declined significantly to $X in 2021. Overall, exports saw a abrupt slump. The growth pace was the most rapid in 2014 when exports increased by 101% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Benin (X units), the United Arab Emirates (X units) and Sri Lanka (X units) were the main destinations of commercial refrigeration equipment exports from Pakistan, with a combined 83% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sri Lanka (with a CAGR of +53.0%), while the other leaders experienced more modest paces of growth.

In value terms, Benin ($X) emerged as the key foreign market for refrigerating and freezing equipment and heat pumps (except household type equipment) exports from Pakistan, comprising 54% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 12% share of total exports. It was followed by Saudi Arabia, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Benin was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+16.9% per year) and Saudi Arabia (+2.3% per year).

Export Prices by Country

In 2021, the average commercial refrigeration equipment export price amounted to $X per unit, declining by -8.5% against the previous year. Over the period under review, the export price, however, saw buoyant growth. The growth pace was the most rapid in 2017 an increase of 69%. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to the United Arab Emirates ($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 Ireland (+195.3%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Pakistan

In 2021, commercial refrigeration equipment imports into Pakistan skyrocketed to X units, picking up by 38% on 2020 figures. In general, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, 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.

In value terms, commercial refrigeration equipment imports surged to $X in 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.1% 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 with an increase of 38% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), the United Arab Emirates (X units) and Denmark (X units) were the main suppliers of commercial refrigeration equipment imports to Pakistan, together accounting for 76% of total imports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +22.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of refrigerating and freezing equipment and heat pumps (except household type equipment) to Pakistan, comprising 45% of total imports. The second position in the ranking was held by Denmark ($X), with a 19% share of total imports. It was followed by the United Arab Emirates, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+14.3% per year) and the United Arab Emirates (+20.5% per year).

Import Prices by Country

In 2021, the average commercial refrigeration equipment import price amounted to $X per unit, with a decrease of -4.5% against the previous year. Over the last nine years, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2017 an increase of 25% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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