Sweden: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Sweden

In 2021, the Swedish commercial refrigeration equipment market decreased by -29.2% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, saw a mild increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Commercial Refrigeration Equipment Production in Sweden

In value terms, commercial refrigeration equipment production soared to $X in 2021 estimated in export price. Overall, production, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 22%. Commercial refrigeration equipment production peaked in 2021 and is expected to retain growth in the near future.

Commercial Refrigeration Equipment Exports

Exports from Sweden

In 2021, approx. X units of refrigerating and freezing equipment and heat pumps (except household type equipment) were exported from Sweden; increasing by 16% compared with 2020 figures. Overall, total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.2% 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 +2.5% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 40% 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 surged to $X in 2021. In general, exports posted a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Norway (X units), Finland (X units) and Germany (X units) were the main destinations of commercial refrigeration equipment exports from Sweden, together comprising 38% of total exports. These countries were followed by Denmark, the Netherlands, the United States, the UK, France, Poland, Vietnam, Italy, Thailand and the Czech Republic, which together accounted for a further 36%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +53.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for commercial refrigeration equipment exported from Sweden were Germany ($X), Finland ($X) and the Netherlands ($X), together accounting for 41% of total exports. Denmark, Norway, Poland, the Czech Republic, the UK, France, the United States, Thailand, Italy and Vietnam lagged somewhat behind, together comprising a further 38%.

Vietnam, with a CAGR of +48.8%, saw the highest rates of growth with regard to the value of exports, among 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, rising by 11% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2020 an increase of 13% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the Czech Republic ($X per unit), while the average price for exports to the United States ($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 (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Sweden

In 2021, commercial refrigeration equipment imports into Sweden surged to X units, growing by 15% on the year before. The total import volume increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 29%. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, commercial refrigeration equipment imports soared to $X in 2021. The total import value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of commercial refrigeration equipment to Sweden, accounting for a 33% share of total imports. Moreover, commercial refrigeration equipment imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. The third position in this ranking was held by Germany (X units), with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +21.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+3.6% per year) and Germany (+4.6% per year).

In value terms, China ($X), Italy ($X) and Germany ($X) appeared to be the largest commercial refrigeration equipment suppliers to Sweden, with a combined 45% share of total imports. These countries were followed by Thailand, the Netherlands, Denmark, Finland, Ireland, France, the UK, Croatia, the Czech Republic and Turkey, which together accounted for a further 42%.

Thailand, with a CAGR of +39.5%, 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

The average commercial refrigeration equipment import price stood at $X per unit in 2021, increasing by 8.3% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 22%. As a result, import price attained the peak level of $X per unit. From 2018 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for Croatia ($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 (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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