Turkey: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Turkey

In 2021, the Turkish commercial refrigeration equipment market decreased by -7.9% to $X, falling for the second year in a row after two years of growth. The market value increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Commercial refrigeration equipment consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Commercial Refrigeration Equipment Production in Turkey

In value terms, commercial refrigeration equipment production rose notably to $X in 2021 estimated in export price. Overall, production continues to indicate a strong increase. The pace of growth was the most pronounced in 2015 when the production volume increased by 135%. Commercial refrigeration equipment production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Commercial Refrigeration Equipment Exports

Exports from Turkey

Commercial refrigeration equipment exports from Turkey soared to X units in 2021, picking up by 86% against 2020. Over the period under review, exports posted a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, commercial refrigeration equipment exports soared to $X in 2021. Overall, exports posted a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Iraq (X units), the UK (X units) and Germany (X units) were the main destinations of commercial refrigeration equipment exports from Turkey, with a combined 23% share of total exports. Israel, Turkmenistan, Azerbaijan, the Netherlands, France, Egypt, Italy, Belgium, Uzbekistan and Romania lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2021, the biggest increases were recorded for Israel (with a CAGR of +29.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Germany ($X) and Iraq ($X) constituted the largest markets for commercial refrigeration equipment exported from Turkey worldwide, with a combined 25% share of total exports. These countries were followed by Israel, the Netherlands, Italy, France, Egypt, Romania, Azerbaijan, Turkmenistan, Belgium and Uzbekistan, which together accounted for a further 32%.

Egypt, with a CAGR of +27.7%, saw the highest growth rate of 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, growing by 19% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Turkmenistan ($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 Iraq (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Turkey

In 2021, overseas purchases of refrigerating and freezing equipment and heat pumps (except household type equipment) increased by 27% to X units, rising for the second consecutive year after four years of decline. In general, imports, however, showed a noticeable descent. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, commercial refrigeration equipment imports skyrocketed to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Italy (X units) and France (X units) were the main suppliers of commercial refrigeration equipment imports to Turkey, together accounting for 69% of total imports. These countries were followed by Ireland, Germany, the United States, Mexico, Malaysia, Austria, the Netherlands, Norway and Spain, which together accounted for a further 26%.

From 2012 to 2021, the biggest increases were recorded for Ireland (with a CAGR of +40.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), China ($X) and France ($X) constituted the largest commercial refrigeration equipment suppliers to Turkey, with a combined 59% share of total imports. Germany, Austria, Norway, Ireland, the United States, the Netherlands, Mexico, Malaysia and Spain lagged somewhat behind, together accounting for a further 30%.

Among the main suppliers, Norway, with a CAGR of +23.9%, saw the highest growth rate of the value of imports, 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, picking up by 22% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per unit), while the price for Ireland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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