Sweden: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Sweden

In 2022, after two years of growth, there was significant decline in the Swedish refrigerator compressor market, when its value decreased by -6.6% to $X. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Refrigerator Compressor Exports

Exports from Sweden

In 2022, exports of compressors for refrigeration equipment from Sweden declined to X units, waning by -7.6% against the year before. Over the period under review, exports continue to indicate a mild curtailment. The pace of growth appeared the most rapid in 2013 with an increase of 52% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, refrigerator compressor exports rose markedly to $X in 2022. Overall, exports continue to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2013 with an increase of 39%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Brazil (X units) was the main destination for refrigerator compressor exports from Sweden, accounting for a 39% share of total exports. Moreover, refrigerator compressor exports to Brazil exceeded the volume sent to the second major destination, Germany (X units), fourfold. The third position in this ranking was taken by Denmark (X units), with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil amounted to +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+4.7% per year) and Denmark (-0.4% per year).

In value terms, the largest markets for refrigerator compressor exported from Sweden were Brazil ($X), the Czech Republic ($X) and Norway ($X), with a combined 41% share of total exports.

Among the main countries of destination, the Czech Republic, with a CAGR of +37.9%, saw the highest rates of growth with regard to 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

The average refrigerator compressor export price stood at $X per unit in 2022, picking up by 20% against the previous year. Over the period under review, the export price, however, showed a pronounced decrease. The most prominent rate of growth was recorded in 2014 an increase of 28% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average 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 Czech Republic ($X per unit), while the average price for exports to Germany ($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 Finland (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Compressor Imports

Imports into Sweden

In 2022, after two years of growth, there was decline in supplies from abroad of compressors for refrigeration equipment, when their volume decreased by -3.9% to X units. In general, imports showed a perceptible shrinkage. The growth pace was the most rapid in 2021 when imports increased by 56%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, refrigerator compressor imports reduced to $X in 2022. The total import value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 28%. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

Germany (X units), Thailand (X units) and China (X units) were the main suppliers of refrigerator compressor imports to Sweden, with a combined 70% share of total imports. The United States, Japan, Portugal, Denmark, Italy, Poland, the UK and Austria lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +226.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refrigerator compressor suppliers to Sweden were Germany ($X), Thailand ($X) and Japan ($X), together accounting for 74% of total imports. The United States, China, Portugal, Poland, Italy, Denmark, the UK and Austria lagged somewhat behind, together comprising a further 14%.

Portugal, with a CAGR of +270.6%, saw the highest rates of growth with regard to 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 2022, the average refrigerator compressor import price amounted to $X per unit, waning by -3.7% against the previous year. Overall, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refrigerator compressor import price decreased by -21.7% against 2018 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by 24%. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a 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 Austria ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+29.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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