Spain: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Spain

After two years of decline, the Spanish commercial refrigeration equipment market increased by 25% to $X in 2021. In general, consumption, however, continues to indicate a deep setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Commercial Refrigeration Equipment Production in Spain

In value terms, commercial refrigeration equipment production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when the production volume increased by 24%. Commercial refrigeration equipment production peaked in 2021 and is expected to retain growth in the near future.

Commercial Refrigeration Equipment Exports

Exports from Spain

For the third year in a row, Spain recorded growth in overseas shipments of refrigerating and freezing equipment and heat pumps (except household type equipment), which increased by 28% to X units in 2021. Over the period under review, exports saw a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 34%. 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. In general, total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +10.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +56.8% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X units) was the main destination for commercial refrigeration equipment exports from Spain, with a 27% share of total exports. Moreover, commercial refrigeration equipment exports to France exceeded the volume sent to the second major destination, Germany (X units), twofold. The third position in this ranking was held by Portugal (X units), with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to France amounted to +17.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+20.9% per year) and Portugal (+10.0% per year).

In value terms, France ($X) remains the key foreign market for refrigerating and freezing equipment and heat pumps (except household type equipment) exports from Spain, comprising 26% of total exports. The second position in the ranking was taken by Portugal ($X), with a 9.2% share of total exports. It was followed by Germany, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value to France totaled +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+11.7% per year) and Germany (+10.9% per year).

Export Prices by Country

The average commercial refrigeration equipment export price stood at $X per unit in 2021, growing by 18% against the previous year. Over the period under review, the export price, however, recorded a slight descent. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Turkey ($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 the Netherlands (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Spain

In 2021, the amount of refrigerating and freezing equipment and heat pumps (except household type equipment) imported into Spain soared to X units, jumping by 29% on 2020. In general, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, commercial refrigeration equipment imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X units), China (X units) and France (X units) were the main suppliers of commercial refrigeration equipment imports to Spain, with a combined 60% share of total imports.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +12.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), China ($X) and France ($X) appeared to be the largest commercial refrigeration equipment suppliers to Spain, with a combined 59% share of total imports.

China, with a CAGR of +13.8%, recorded 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, with an increase of 11% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 11%. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Belgium ($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 Netherlands (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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