Peru: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Peru

The Peruvian commercial refrigeration equipment market soared to $X in 2021, with an increase of 68% 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). In general, the total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -25.0% against 2017 indices. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Commercial Refrigeration Equipment Exports

Exports from Peru

In 2021, commercial refrigeration equipment exports from Peru expanded remarkably to X units, growing by 13% on 2020 figures. Over the period under review, exports enjoyed significant growth. The growth pace was the most rapid in 2019 when exports increased by 731% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, commercial refrigeration equipment exports declined significantly to $X in 2021. Overall, exports saw a significant increase. The pace of growth appeared the most rapid in 2019 when exports increased by 1,054%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Honduras (X units) was the main destination for commercial refrigeration equipment exports from Peru, with a 76% share of total exports. Moreover, commercial refrigeration equipment exports to Honduras exceeded the volume sent to the second major destination, Ecuador (X units), fivefold. The third position in this ranking was held by Bolivia (X units), with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Honduras amounted to +53.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+52.9% per year) and Bolivia (+27.1% per year).

In value terms, Honduras ($X) emerged as the key foreign market for refrigerating and freezing equipment and heat pumps (except household type equipment) exports from Peru, comprising 58% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 13% share of total exports. It was followed by Portugal, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value to Honduras totaled +51.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+29.5% per year) and Portugal (0.0% per year).

Export Prices by Country

The average commercial refrigeration equipment export price stood at $X per unit in 2021, waning by -34.6% against the previous year. In general, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2019 an increase of 39% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Portugal ($X per unit), while the average price for exports to Honduras ($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 Guatemala (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Peru

Commercial refrigeration equipment imports into Peru skyrocketed to X units in 2021, rising by 36% on the previous year's figure. In general, total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -31.9% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 59% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, commercial refrigeration equipment imports skyrocketed to $X in 2021. Overall, total imports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -22.0% against 2017 indices. The pace of growth appeared the most rapid in 2013 with an increase of 86%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of commercial refrigeration equipment to Peru, with a 48% share of total imports. Moreover, commercial refrigeration equipment imports from China exceeded the figures recorded by the second-largest supplier, Guatemala (X units), fivefold. The third position in this ranking was taken by the United States (X units), with an 8.4% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (+13.2% per year) and the United States (-7.4% per year).

In value terms, China ($X) constituted the largest supplier of refrigerating and freezing equipment and heat pumps (except household type equipment) to Peru, comprising 33% of total imports. The second position in the ranking was taken by Guatemala ($X), with a 16% share of total imports. It was followed by Colombia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (+11.5% per year) and Colombia (+21.2% per year).

Import Prices by Country

The average commercial refrigeration equipment import price stood at $X per unit in 2021, jumping by 36% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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