Romania: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Romania

In 2021, the Romanian commercial refrigeration equipment market increased by 29% to $X, rising for the fourth year in a row after four years of decline. In general, consumption continues to indicate a prominent expansion. Commercial refrigeration equipment consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Commercial Refrigeration Equipment Production in Romania

In value terms, commercial refrigeration equipment production reduced markedly to $X in 2021 estimated in export price. Over the period under review, production showed a slight reduction. The growth pace was the most rapid in 2017 with an increase of 85%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Commercial Refrigeration Equipment Exports

Exports from Romania

In 2021, the amount of refrigerating and freezing equipment and heat pumps (except household type equipment) exported from Romania contracted to X units, dropping by -4.7% against the previous year. Overall, exports continue to indicate a mild decrease. The pace of growth was the most pronounced in 2017 with an increase of 94% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, commercial refrigeration equipment exports reduced modestly to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 55% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Greece (X units) was the main destination for commercial refrigeration equipment exports from Romania, with a 16% share of total exports. Moreover, commercial refrigeration equipment exports to Greece exceeded the volume sent to the second major destination, Bulgaria (X units), twofold. The third position in this ranking was held by Poland (X units), with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Greece totaled +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+3.7% per year) and Poland (+1.3% per year).

In value terms, Greece ($X) emerged as the key foreign market for refrigerating and freezing equipment and heat pumps (except household type equipment) exports from Romania, comprising 17% of total exports. The second position in the ranking was held by Poland ($X), with a 7% share of total exports. It was followed by Moldova, with a 6.5% share.

From 2012 to 2021, the average annual growth rate of value to Greece amounted to +18.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+3.2% per year) and Moldova (+27.2% per year).

Export Prices by Country

The average commercial refrigeration equipment export price stood at $X per unit in 2021, surging by 4.1% against the previous year. Over the last nine years, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 43% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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 Italy ($X per unit), while the average price for exports to Germany ($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 Italy (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Romania

In 2021, approx. X units of refrigerating and freezing equipment and heat pumps (except household type equipment) were imported into Romania; picking up by 22% against 2020 figures. Over the period under review, imports recorded resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 37%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, commercial refrigeration equipment imports skyrocketed to $X in 2021. In general, imports posted resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X units), China (X units) and Turkey (X units) were the main suppliers of commercial refrigeration equipment imports to Romania, with a combined 46% share of total imports. France, Austria, Germany, Russia, Poland, the Czech Republic, Lithuania, the Netherlands, Ukraine and Slovenia lagged somewhat behind, together comprising a further 43%.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +50.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of refrigerating and freezing equipment and heat pumps (except household type equipment) to Romania, comprising 27% of total imports. The second position in the ranking was held by Austria ($X), with a 10% share of total imports. It was followed by Turkey, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy stood at +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+0.7% per year) and Turkey (+4.6% per year).

Import Prices by Country

In 2021, the average commercial refrigeration equipment import price amounted to $X per unit, with an increase of 9.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 27% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a somewhat 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 Austria ($X per unit), while the price for Lithuania ($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 (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :