Ukraine: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Ukraine

In 2022, after five years of growth, there was significant decline in the Ukrainian refrigerator compressor market, when its value decreased by -53.1% to $X. Over the period under review, consumption showed a abrupt decrease. Refrigerator compressor consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Refrigerator Compressor Production in Ukraine

In value terms, refrigerator compressor production reduced to $X in 2022 estimated in export price. In general, production continues to indicate a precipitous curtailment. The pace of growth was the most pronounced in 2021 with an increase of 12%. Refrigerator compressor production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Refrigerator Compressor Exports

Exports from Ukraine

In 2022, shipments abroad of compressors for refrigeration equipment decreased by -31.3% to X units, falling for the second year in a row after two years of growth. Overall, exports faced a deep contraction. The pace of growth appeared the most rapid in 2017 when exports increased by 63%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, refrigerator compressor exports contracted to $X in 2022. Over the period under review, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when exports increased by 67% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Moldova (X units) was the main destination for refrigerator compressor exports from Ukraine, accounting for a 39% share of total exports. Moreover, refrigerator compressor exports to Moldova exceeded the volume sent to the second major destination, Belgium (X units), twofold. Slovakia (X units) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Moldova totaled -4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+52.1% per year) and Slovakia (+13.9% per year).

In value terms, Belgium ($X), Poland ($X) and Georgia ($X) were the largest markets for refrigerator compressor exported from Ukraine worldwide, with a combined 79% share of total exports.

In terms of the main countries of destination, Belgium, with a CAGR of +55.1%, recorded 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

In 2022, the average refrigerator compressor export price amounted to $X per unit, surging by 36% against the previous year. Overall, the export price posted a resilient expansion. The growth pace was the most rapid in 2018 an increase of 122%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Georgia ($X per unit), while the average price for exports to Slovakia ($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 Belarus (+15.5%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Compressor Imports

Imports into Ukraine

After three years of growth, overseas purchases of compressors for refrigeration equipment decreased by -56.9% to X units in 2022. Overall, imports recorded a deep setback. The pace of growth was the most pronounced in 2021 when imports increased by 34%. Imports peaked at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, refrigerator compressor imports declined dramatically to $X in 2022. In general, imports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 21%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Slovakia (X units) constituted the largest supplier of refrigerator compressor to Ukraine, with a 45% share of total imports. Moreover, refrigerator compressor imports from Slovakia exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was taken by Poland (X units), with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Slovakia stood at -6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.4% per year) and Poland (+20.0% per year).

In value terms, the largest refrigerator compressor suppliers to Ukraine were Slovakia ($X), China ($X) and Poland ($X), together accounting for 50% of total imports. Italy, Taiwan (Chinese), Brazil, South Korea and Belarus lagged somewhat behind, together accounting for a further 14%.

Taiwan (Chinese), with a CAGR of +53.6%, 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 mixed trend patterns.

Import Prices by Country

The average refrigerator compressor import price stood at $X per unit in 2022, growing by 11% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 35%. Over the period under review, average import prices attained the maximum 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 Taiwan (Chinese) ($X per unit), while the price for Belarus ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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