Uruguay: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Uruguay

The Uruguayan commercial refrigeration equipment market surged to $X in 2021, growing by 68% against the previous year. Over the period under review, the total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Commercial Refrigeration Equipment Production in Uruguay

In value terms, commercial refrigeration equipment production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when the production volume increased by 7.6% against the previous year. As a result, production reached the peak level of $X, and then contracted slightly in the following year.

Commercial Refrigeration Equipment Exports

Exports from Uruguay

Commercial refrigeration equipment exports from Uruguay skyrocketed to X units in 2021, growing by 393% on the previous year. Overall, exports enjoyed significant growth. The pace of growth was the most pronounced in 2015 when exports increased by 1,589% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, commercial refrigeration equipment exports soared to $X in 2021. Over the period under review, exports saw a significant expansion. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X units) was the main destination for commercial refrigeration equipment exports from Uruguay, accounting for a 54% share of total exports. Moreover, commercial refrigeration equipment exports to Mexico exceeded the volume sent to the second major destination, Free Zones (X units), threefold. The third position in this ranking was held by Italy (X units), with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico amounted to +774.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Free Zones (+54.4% per year) and Italy (+84.2% per year).

In value terms, the largest markets for commercial refrigeration equipment exported from Uruguay were Italy ($X), Guatemala ($X) and Mexico ($X), together accounting for 83% of total exports.

Mexico, with a CAGR of +1,393.3%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2021, the average commercial refrigeration equipment export price amounted to $X per unit, rising by 24% against the previous year. Over the period under review, the export price, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when the average export price increased by 83%. The export price peaked at $X per unit in 2013; however, from 2014 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 Guatemala ($X per unit), while the average price for exports to Mexico ($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 Mexico (+70.7%), while the prices for the other major destinations experienced a decline.

Commercial Refrigeration Equipment Imports

Imports into Uruguay

In 2021, commercial refrigeration equipment imports into Uruguay soared to X units, picking up by 169% on the year before. Over the period under review, imports recorded a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, commercial refrigeration equipment imports skyrocketed to $X in 2021. Overall, total imports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X units), China (X units) and Brazil (X units) were the main suppliers of commercial refrigeration equipment imports to Uruguay, with a combined 62% share of total imports. France, Mexico, Spain, Argentina, the United States and Chile lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +30.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest commercial refrigeration equipment suppliers to Uruguay were China ($X), Italy ($X) and Brazil ($X), with a combined 56% share of total imports. These countries were followed by Mexico, Spain, France, the United States, Argentina and Chile, which together accounted for a further 25%.

In terms of the main suppliers, Mexico, with a CAGR of +23.1%, recorded the highest rates of growth with regard to 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

In 2021, the average commercial refrigeration equipment import price amounted to $X per unit, dropping by -10.9% against the previous year. In general, the import price, however, recorded a slight expansion. The most prominent rate of growth was recorded in 2014 when the average import price increased by 19%. As a result, import price attained the peak level of $X per unit. From 2015 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 the United States ($X per unit), while the price for Italy ($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 (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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