Slovakia: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Slovakia

In 2021, the Slovak commercial refrigeration equipment market was finally on the rise to reach $X after three years of decline. Overall, consumption, however, saw a pronounced decline. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Commercial Refrigeration Equipment Production in Slovakia

In value terms, commercial refrigeration equipment production reduced sharply to $X in 2021 estimated in export price. Over the period under review, production showed a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 108% against the previous year. Commercial refrigeration equipment production peaked at $X in 2020, and then fell sharply in the following year.

Commercial Refrigeration Equipment Exports

Exports from Slovakia

Commercial refrigeration equipment exports from Slovakia skyrocketed to X units in 2021, jumping by 16% compared with the year before. In general, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +15.0% against 2018 indices. The pace of growth was the most pronounced in 2014 when exports increased by 52% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, commercial refrigeration equipment exports soared to $X in 2021. Overall, exports recorded strong growth. The most prominent rate of growth was recorded in 2014 when exports increased by 53% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Italy (X units), Romania (X units) and Germany (X units) were the main destinations of commercial refrigeration equipment exports from Slovakia, with a combined 44% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +54.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for commercial refrigeration equipment exported from Slovakia were Germany ($X), Italy ($X) and the Czech Republic ($X), with a combined 47% share of total exports. These countries were followed by Australia, France, Poland, Romania, the United States, Ukraine, Hungary, the Netherlands, Belgium and the UK, which together accounted for a further 42%.

France, with a CAGR of +37.2%, recorded the highest growth rate of the value of exports, in terms of 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

The average commercial refrigeration equipment export price stood at $X per unit in 2021, picking up by 9.5% against the previous year. In general, export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, commercial refrigeration equipment export price increased by +44.3% against 2016 indices. The most prominent rate of growth was recorded in 2013 an increase of 35%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ukraine ($X per unit), while the average price for exports to Romania ($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 Germany (+21.9%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Slovakia

In 2021, commercial refrigeration equipment imports into Slovakia skyrocketed to X units, increasing by 22% on the previous year's figure. Over the period under review, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 38%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, commercial refrigeration equipment imports surged to $X in 2021. In general, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 44% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

The Czech Republic (X units), Germany (X units) and Austria (X units) were the main suppliers of commercial refrigeration equipment imports to Slovakia, together comprising 54% of total imports. These countries were followed by Ukraine, Italy, France, Hungary, China and Turkey, which together accounted for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ukraine (with a CAGR of +43.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest commercial refrigeration equipment suppliers to Slovakia were Germany ($X), the Czech Republic ($X) and Austria ($X), with a combined 62% share of total imports. France, Italy, Ukraine, Hungary, China and Turkey lagged somewhat behind, together accounting for a further 34%.

Ukraine, with a CAGR of +40.3%, saw the highest growth rate of the value of imports, among 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, surging by 8.3% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 9.9%. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per unit), while the price for Ukraine ($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 (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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