Uzbekistan: Refrigerator Compressor Market 2024

Refrigerator Compressor Market Size in Uzbekistan

The Uzbek refrigerator compressor market skyrocketed to $X in 2022, increasing by 38% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed significant growth. Refrigerator compressor consumption peaked in 2022 and is expected to retain growth in the near future.

Refrigerator Compressor Exports

Exports from Uzbekistan

In 2022, after two years of growth, there was significant decline in shipments abroad of compressors for refrigeration equipment, when their volume decreased by -9% to X units. Over the period under review, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 355%. As a result, the exports reached the peak of X units, and then declined in the following year.

In value terms, refrigerator compressor exports fell to $X in 2022. Overall, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 531%. As a result, the exports reached the peak of $X, and then contracted in the following year.

Exports by Country

Kazakhstan (X units), Russia (X units) and Kyrgyzstan (X units) were the main destinations of refrigerator compressor exports from Uzbekistan, together comprising 90% of total exports.

From 2017 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +543.8%), while the other leaders experienced mixed trend patterns.

In value terms, Kazakhstan ($X), Russia ($X) and Kyrgyzstan ($X) constituted the largest markets for refrigerator compressor exported from Uzbekistan worldwide, together comprising 93% of total exports.

Russia, with a CAGR of +588.4%, 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 mixed trend patterns.

Export Prices by Country

In 2022, the average refrigerator compressor export price amounted to $X per unit, surging by 2.8% against the previous year. Overall, export price indicated resilient growth from 2017 to 2022: its price increased at an average annual rate of +7.8% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refrigerator compressor export price increased by +111.1% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 48% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per unit), while the average price for exports to Tajikistan ($X per unit) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Compressor Imports

Imports into Uzbekistan

After two years of decline, overseas purchases of compressors for refrigeration equipment increased by 42% to X units in 2022. In general, imports showed a significant expansion. The pace of growth was the most pronounced in 2018 when imports increased by 92% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, refrigerator compressor imports surged to $X in 2022. Overall, imports posted a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of 107%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, China (X units) was the main refrigerator compressor supplier to Uzbekistan, accounting for a 92% share of total imports. Moreover, refrigerator compressor imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), more than tenfold.

From 2017 to 2022, the average annual growth rate of volume from China stood at +29.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+51.1% per year) and Russia (+38.7% per year).

In value terms, China ($X) constituted the largest supplier of compressors for refrigeration equipment to Uzbekistan, comprising 87% of total imports. The second position in the ranking was taken by Thailand ($X), with a 7.3% share of total imports.

From 2017 to 2022, the average annual rate of growth in terms of value from China stood at +37.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+25.7% per year) and Russia (+40.4% per year).

Import Prices by Country

In 2022, the average refrigerator compressor import price amounted to $X per unit, shrinking by -2.6% against the previous year. Over the period from 2017 to 2022, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2020 an increase of 10%. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the average 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 Thailand ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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