Azerbaijan: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Azerbaijan

For the third consecutive year, the Azerbaijani commercial refrigeration equipment market recorded growth in sales value, which increased by X% to $X in 2022. Overall, consumption saw a remarkable increase. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the immediate term.

Commercial Refrigeration Equipment Production in Azerbaijan

In value terms, commercial refrigeration equipment production amounted to $X in 2022 estimated in export price. In general, production, however, showed measured growth. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

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Commercial Refrigeration Equipment Exports

Exports from Azerbaijan

In 2022, approx. X units of refrigerating and freezing equipment and heat pumps (except household type equipment) were exported from Azerbaijan; surging by X% on the year before. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports reached the maximum at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, commercial refrigeration equipment exports fell rapidly to $X in 2022. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then reduced markedly in the following year.

Exports by Country

Iran (X units), Russia (X units) and Georgia (X units) were the main destinations of commercial refrigeration equipment exports from Azerbaijan, with a combined X% share of total exports. The UK, Romania and Kazakhstan lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for commercial refrigeration equipment exported from Azerbaijan were Russia ($X), Georgia ($X) and Iran ($X), with a combined X% share of total exports. The UK, Kazakhstan and Romania lagged somewhat behind, together accounting for a further X%.

Kazakhstan, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among 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

The average commercial refrigeration equipment export price stood at $X per unit in 2022, waning by X% against the previous year. Over the period under review, the export price recorded a abrupt descent. The pace of growth was the most pronounced in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, 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 Georgia ($X per unit), while the average price for exports to Iran ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Azerbaijan

In 2022, approx. X units of refrigerating and freezing equipment and heat pumps (except household type equipment) were imported into Azerbaijan; rising by X% against the previous year's figure. Over the period under review, imports recorded a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, commercial refrigeration equipment imports stood at $X in 2022. Overall, imports enjoyed prominent growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Turkey (X units), Austria (X units) and Italy (X units) were the main suppliers of commercial refrigeration equipment imports to Azerbaijan, with a combined X% share of total imports.

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

In value terms, Turkey ($X) constituted the largest supplier of refrigerating and freezing equipment and heat pumps (except household type equipment) to Azerbaijan, comprising X% of total imports. The second position in the ranking was taken by Italy ($X), with a X% share of total imports. It was followed by Austria, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Austria (X% per year).

Import Prices by Country

The average commercial refrigeration equipment import price stood at $X per unit in 2022, dropping by X% against the previous year. In general, the import price recorded a perceptible slump. The most prominent rate of growth was recorded in 2015 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2017; however, from 2018 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 Russia ($X per unit), while the price for Austria ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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