Russian Federation: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in the Russian Federation

The Russian refrigerator compressor market dropped to $X in 2022, with a decrease of -9.7% against the previous year. Overall, consumption recorded a mild shrinkage. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Refrigerator Compressor Production in the Russian Federation

In value terms, refrigerator compressor production shrank to $X in 2022 estimated in export price. In general, production showed a noticeable downturn. The pace of growth was the most pronounced in 2014 when the production volume increased by 308% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Refrigerator Compressor Exports

Exports from the Russian Federation

In 2022, approx. X units of compressors for refrigeration equipment were exported from Russia; stabilizing at the previous year. Overall, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2018 when exports increased by 281%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, refrigerator compressor exports declined to $X in 2022. In general, exports saw a prominent increase. The pace of growth appeared the most rapid in 2018 with an increase of 109% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then shrank in the following year.

Exports by Country

Ukraine (X units) was the main destination for refrigerator compressor exports from Russia, with a 56% share of total exports. Moreover, refrigerator compressor exports to Ukraine exceeded the volume sent to the second major destination, Kazakhstan (X units), twofold. The third position in this ranking was held by Uzbekistan (X units), with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ukraine stood at +26.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+13.3% per year) and Uzbekistan (+26.6% per year).

In value terms, the largest markets for refrigerator compressor exported from Russia were Kazakhstan ($X), Ukraine ($X) and Belarus ($X), with a combined 81% share of total exports. Uzbekistan, Egypt, Armenia and Romania lagged somewhat behind, together accounting for a further 16%.

Egypt, with a CAGR of +63.7%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average refrigerator compressor export price amounted to $X per unit, falling by -12.9% against the previous year. Over the period under review, the export price showed a pronounced descent. The most prominent rate of growth was recorded in 2014 when the average export price increased by 47%. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belarus ($X per unit), while the average price for exports to Ukraine ($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 Uzbekistan (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Compressor Imports

Imports into the Russian Federation

Refrigerator compressor imports into Russia declined to X units in 2022, falling by -10.9% against the year before. Overall, total imports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.1% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 28%. As a result, imports attained the peak of X units, and then fell in the following year.

In value terms, refrigerator compressor imports shrank to $X in 2022. Over the period under review, imports showed a mild descent. The pace of growth appeared the most rapid in 2021 with an increase of 23% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of refrigerator compressor to Russia, with a 67% share of total imports. Moreover, refrigerator compressor imports from China exceeded the figures recorded by the second-largest supplier, Slovakia (X units), eightfold. South Korea (X units) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+3.7% per year) and South Korea (-2.1% per year).

In value terms, China ($X) constituted the largest supplier of compressors for refrigeration equipment to Russia, comprising 39% of total imports. The second position in the ranking was taken by Germany ($X), with a 10% share of total imports. It was followed by South Korea, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.4% per year) and South Korea (-1.1% per year).

Import Prices by Country

The average refrigerator compressor import price stood at $X per unit in 2022, rising by 1.8% against the previous year. Over the period under review, the import price, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2020 when the average import price increased by 5.8%. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Austria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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