Uruguay: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Uruguay

In 2022, the Uruguayan refrigerator compressor market increased by 12% to $X, rising for the fourth year in a row after three years of decline. In general, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +66.9% against 2018 indices. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in the near future.

Refrigerator Compressor Exports

Exports from Uruguay

In 2022, approx. X units of compressors for refrigeration equipment were exported from Uruguay; shrinking by -37.5% on 2021 figures. Overall, exports showed a noticeable curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 100% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, refrigerator compressor exports shrank sharply to $X in 2022. In general, exports recorded a mild reduction. The pace of growth appeared the most rapid in 2013 with an increase of 303%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil (X units) was the main destination for refrigerator compressor exports from Uruguay, accounting for a 80% share of total exports. Moreover, refrigerator compressor exports to Brazil exceeded the volume sent to the second major destination, Malaysia (X units), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Brazil totaled +7.2%.

In value terms, Brazil ($X) and Malaysia ($X) were the largest markets for refrigerator compressor exported from Uruguay worldwide.

Among the main countries of destination, Brazil, with a CAGR of +2.1%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the average refrigerator compressor export price amounted to $X per unit, falling by -47.9% against the previous year. In general, the export price, however, recorded a noticeable expansion. The growth pace was the most rapid in 2020 when the average export price increased by 102% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to Brazil stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+54.2%), while the prices for the other major destinations experienced mixed trend patterns.

Refrigerator Compressor Imports

Imports into Uruguay

In 2022, imports of compressors for refrigeration equipment into Uruguay expanded sharply to X units, picking up by 13% compared with 2021 figures. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 22%. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, refrigerator compressor imports totaled $X in 2022. Overall, total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +80.0% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 33%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Brazil (X units), China (X units) and Hungary (X units) were the main suppliers of refrigerator compressor imports to Uruguay, together comprising 72% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +118.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refrigerator compressor suppliers to Uruguay were Brazil ($X), China ($X) and Hungary ($X), together accounting for 63% of total imports.

Hungary, with a CAGR of +105.4%, saw the highest growth rate of the value of imports, in terms of 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 refrigerator compressor import price stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 45% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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