Russian Federation: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in the Russian Federation

In 2021, the Russian commercial refrigeration equipment market increased by 35% to $X, rising for the fifth year in a row after three years of decline. Over the period under review, consumption, however, showed a perceptible curtailment. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Commercial Refrigeration Equipment Production in the Russian Federation

In value terms, commercial refrigeration equipment production shrank to $X in 2021 estimated in export price. Over the period under review, production posted a prominent expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by 120% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.

Commercial Refrigeration Equipment Exports

Exports from the Russian Federation

In 2021, exports of refrigerating and freezing equipment and heat pumps (except household type equipment) from Russia expanded rapidly to X units, picking up by 14% against 2020. Over the period under review, exports posted resilient growth. The pace of growth was the most pronounced in 2016 when exports increased by 77%. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, commercial refrigeration equipment exports surged to $X in 2021. Overall, exports recorded buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of 97% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Kazakhstan (X units), Belarus (X units) and Ukraine (X units) were the main destinations of commercial refrigeration equipment exports from Russia, with a combined 59% share of total exports. Uzbekistan, Azerbaijan, Italy, Armenia, Germany, Kyrgyzstan, Poland and Romania lagged somewhat behind, together comprising a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kyrgyzstan (with a CAGR of +58.3%), while the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X) remains the key foreign market for refrigerating and freezing equipment and heat pumps (except household type equipment) exports from Russia, comprising 30% of total exports. The second position in the ranking was held by Belarus ($X), with a 12% share of total exports. It was followed by Ukraine, with a 9% share.

From 2012 to 2021, the average annual growth rate of value to Kazakhstan amounted to +15.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+11.4% per year) and Ukraine (-7.2% per year).

Export Prices by Country

In 2021, the average commercial refrigeration equipment export price amounted to $X per unit, with an increase of 12% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 25% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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 Romania ($X per unit), while the average price for exports to Belarus ($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 Poland (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into the Russian Federation

In 2021, imports of refrigerating and freezing equipment and heat pumps (except household type equipment) into Russia skyrocketed to X units, increasing by 51% compared with the previous year's figure. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 54%. Imports peaked at X units in 2013; afterwards, it flattened through to 2021.

In value terms, commercial refrigeration equipment imports soared to $X in 2021. Over the period under review, imports, however, showed a noticeable decrease. The most prominent rate of growth was recorded in 2017 with an increase of 66% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest commercial refrigeration equipment supplier to Russia, accounting for a 50% share of total imports. Moreover, commercial refrigeration equipment imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), fourfold. Chile (X units) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-6.2% per year) and Chile (+370.7% per year).

In value terms, the largest commercial refrigeration equipment suppliers to Russia were China ($X), Italy ($X) and France ($X), with a combined 49% share of total imports. These countries were followed by Germany, Ireland, Spain, Poland, South Korea, the United States, Turkey, Chile and Ukraine, which together accounted for a further 22%.

Ireland, with a CAGR of +19.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average commercial refrigeration equipment import price amounted to $X per unit, waning by -14% against the previous year. Over the period under review, the import price recorded a perceptible decrease. The most prominent rate of growth was recorded in 2013 an increase of 12%. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, import prices stood 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 Germany ($X per unit), while the price for Chile ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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