Slovenia: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Slovenia

The Slovene refrigerator compressor market stood at $X in 2022, almost unchanged from the previous year. Overall, consumption, however, enjoyed a strong expansion. Refrigerator compressor consumption peaked in 2022 and is expected to retain growth in the immediate term.

Refrigerator Compressor Production in Slovenia

In value terms, refrigerator compressor production contracted slightly to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2021 when the production volume increased by 3.8%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Refrigerator Compressor Exports

Exports from Slovenia

In 2022, after three years of growth, there was decline in shipments abroad of compressors for refrigeration equipment, when their volume decreased by -1% to X units. In general, exports faced a precipitous contraction. The pace of growth appeared the most rapid in 2016 with an increase of 32% against the previous year. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, refrigerator compressor exports contracted to $X in 2022. Overall, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Croatia (X units) was the main destination for refrigerator compressor exports from Slovenia, with a 25% share of total exports. Moreover, refrigerator compressor exports to Croatia exceeded the volume sent to the second major destination, Italy (X units), threefold. Germany (X units) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Croatia amounted to +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+8.7% per year) and Germany (-18.7% per year).

In value terms, the Czech Republic ($X), Croatia ($X) and Hungary ($X) appeared to be the largest markets for refrigerator compressor exported from Slovenia worldwide, together comprising 51% of total exports. Germany, Romania, Austria, North Macedonia, Serbia, Portugal, Israel, Bosnia and Herzegovina, Italy and Uganda lagged somewhat behind, together accounting for a further 39%.

In terms of the main countries of destination, Uganda, with a CAGR of +239.1%, recorded the highest growth rate of the value of exports, 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, shrinking by -8.6% against the previous year. Over the period under review, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 an increase of 87% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per unit), while the average price for exports to Italy ($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 Austria (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Compressor Imports

Imports into Slovenia

After two years of growth, supplies from abroad of compressors for refrigeration equipment decreased by -17.2% to X units in 2022. Overall, imports faced a abrupt decline. The pace of growth was the most pronounced in 2021 when imports increased by 113% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, refrigerator compressor imports totaled $X in 2022. Over the period under review, imports saw a pronounced slump. The pace of growth appeared the most rapid in 2021 with an increase of 108% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest refrigerator compressor supplier to Slovenia, with a 38% share of total imports. Moreover, refrigerator compressor imports from China exceeded the figures recorded by the second-largest supplier, the Czech Republic (X units), twofold. Italy (X units) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+103.9% per year) and Italy (-8.7% per year).

In value terms, the largest refrigerator compressor suppliers to Slovenia were Italy ($X), China ($X) and the Czech Republic ($X), with a combined 56% share of total imports.

The Czech Republic, with a CAGR of +70.1%, 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

The average refrigerator compressor import price stood at $X per unit in 2022, picking up by 24% against the previous year. In general, the import price showed a resilient increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 36% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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 France ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform