United Arab Emirates: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in the United Arab Emirates

In 2022, the refrigerator compressor market in the United Arab Emirates decreased by -11.7% to $X for the first time since 2018, thus ending a three-year rising trend. In general, consumption, however, posted a buoyant expansion. Refrigerator compressor consumption peaked at $X in 2021, and then reduced in the following year.

Refrigerator Compressor Exports

Exports from the United Arab Emirates

For the fourth year in a row, the United Arab Emirates recorded decline in shipments abroad of compressors for refrigeration equipment, which decreased by -32.3% to X units in 2022. Over the period under review, exports recorded a significant decrease. The pace of growth was the most pronounced in 2015 when exports increased by 518%. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, refrigerator compressor exports reduced to $X in 2022. In general, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2015 with an increase of 971%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Chile (X units), Sri Lanka (X units) and Egypt (X units) were the main destinations of refrigerator compressor exports from the United Arab Emirates, with a combined 53% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +116.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) emerged as the key foreign market for compressors for refrigeration equipment exports from the United Arab Emirates, comprising 30% of total exports. The second position in the ranking was held by India ($X), with a 12% share of total exports. It was followed by Hong Kong SAR, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Chile totaled +175.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+9.0% per year) and Hong Kong SAR (+2.8% per year).

Export Prices by Country

In 2022, the average refrigerator compressor export price amounted to $X per unit, with an increase of 26% against the previous year. Overall, the export price showed a strong increase. The growth pace was the most rapid in 2015 an increase of 73%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Sri Lanka ($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 Russia (+46.8%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Compressor Imports

Imports into the United Arab Emirates

In 2022, after five years of growth, there was significant decline in purchases abroad of compressors for refrigeration equipment, when their volume decreased by -5.4% to X units. Overall, imports, however, saw strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 142%. Imports peaked at X units in 2021, and then contracted in the following year.

In value terms, refrigerator compressor imports contracted notably to $X in 2022. In general, imports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2019 when imports increased by 93% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then reduced sharply in the following year.

Imports by Country

China (X units), Brazil (X units) and Slovakia (X units) were the main suppliers of refrigerator compressor imports to the United Arab Emirates, together comprising 62% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +46.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of compressors for refrigeration equipment to the United Arab Emirates, comprising 28% of total imports. The second position in the ranking was taken by Brazil ($X), with a 12% share of total imports. It was followed by Japan, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+44.0% per year) and Japan (+6.1% per year).

Import Prices by Country

The average refrigerator compressor import price stood at $X per unit in 2022, dropping by -11.8% against the previous year. Overall, the import price recorded a deep reduction. The most prominent rate of growth was recorded in 2014 when the average import price increased by 56% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a somewhat 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 the United States ($X per unit), while the price for Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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