Japan: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in Japan

In 2023, the Japanese commercial refrigeration equipment market increased by X% to $X, rising for the second consecutive year after four years of decline. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.

Commercial Refrigeration Equipment Production in Japan

In value terms, commercial refrigeration equipment production reached $X in 2023 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X%. Commercial refrigeration equipment production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Commercial Refrigeration Equipment Exports

Exports from Japan

After four years of growth, shipments abroad of refrigerating and freezing equipment and heat pumps (except household type equipment) decreased by X% to X units in 2023. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

In value terms, commercial refrigeration equipment exports fell to $X in 2023. Overall, exports, however, enjoyed a pronounced increase. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2022, and then fell in the following year.

Exports by Country

South Korea (X units), the United States (X units) and Taiwan (Chinese) (X units) were the main destinations of commercial refrigeration equipment exports from Japan, with a combined X% share of total exports. China, the UK, France, Singapore, Vietnam, Italy, Micronesia, Germany, the Netherlands and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Micronesia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the UK ($X) and China ($X) constituted the largest markets for commercial refrigeration equipment exported from Japan worldwide, together comprising X% of total exports. The United States, Germany, Taiwan (Chinese), South Korea, Singapore, Italy, the Netherlands, Hong Kong SAR, Vietnam and Micronesia lagged somewhat behind, together comprising a further X%.

Micronesia, with a CAGR of X%, recorded the highest growth rate of 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 2023, the average commercial refrigeration equipment export price amounted to $X per unit, increasing by X% against the previous year. In general, the export price enjoyed a strong expansion. The growth pace was the most rapid in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Micronesia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports into Japan

For the third year in a row, Japan recorded growth in overseas purchases of refrigerating and freezing equipment and heat pumps (except household type equipment), which increased by X% to X units in 2023. Over the period under review, imports continue to indicate a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, commercial refrigeration equipment imports soared to $X in 2023. In general, imports saw a resilient increase. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports attained the maximum in 2023 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2023, China (X units) constituted the largest supplier of commercial refrigeration equipment to Japan, accounting for a X% share of total imports. Moreover, commercial refrigeration equipment imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), fourfold. The third position in this ranking was held by the United States (X units), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and the United States (X% per year).

In value terms, the largest commercial refrigeration equipment suppliers to Japan were China ($X), South Korea ($X) and the United States ($X), together comprising X% of total imports. Italy, France, Ireland, Indonesia, Malaysia, Thailand, Taiwan (Chinese) and Vietnam lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Indonesia, with a CAGR of X%, recorded the highest growth rate of 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 2023, the average commercial refrigeration equipment import price amounted to $X per unit, with a decrease of X% against the previous year. Overall, the import price saw a noticeable descent. The most prominent rate of growth was recorded in 2015 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2016 to 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform