MENA: Commercial Refrigeration Equipment Market 2024

Commercial Refrigeration Equipment Market Size in MENA

The MENA's commercial refrigeration equipment market rose remarkably to $X in 2023, surging by X% against the previous year. The total consumption indicated notable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2023, the growth of the market failed to regain momentum.

Commercial Refrigeration Equipment Production in MENA

In value terms, commercial refrigeration equipment production rose to $X in 2023 estimated in export price. Over the period under review, production, however, showed buoyant growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Commercial Refrigeration Equipment Exports

Exports in MENA

For the third consecutive year, MENA recorded growth in shipments abroad of refrigerating and freezing equipment and heat pumps (except household type equipment), which increased by X% to X units in 2023. The total export volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The volume of export peaked at X units in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

In value terms, commercial refrigeration equipment exports skyrocketed to $X in 2023. Total exports indicated a remarkable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure in 2023 and are likely to see steady growth in the immediate term.

Exports by Country

Turkey was the major exporter of refrigerating and freezing equipment and heat pumps (except household type equipment) in MENA, with the volume of exports reaching X units, which was near X% of total exports in 2023. It was distantly followed by the United Arab Emirates (X units), mixing up an X% share of total exports. The following exporters - Lebanon (X units) and Israel (X units) - each reached a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to commercial refrigeration equipment exports from Turkey stood at X%. At the same time, Lebanon (X%) displayed positive paces of growth. Moreover, Lebanon emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2023. Israel experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest commercial refrigeration equipment supplier in MENA, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Israel, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Turkey amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Israel (X% per year).

Export Prices by Country

In 2023, the export price in MENA amounted to $X per unit, surging by X% against the previous year. Export price indicated a resilient expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, commercial refrigeration equipment export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the export prices attained the peak figure in 2023 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per unit), while Lebanon ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Commercial Refrigeration Equipment Imports

Imports in MENA

In 2023, the amount of refrigerating and freezing equipment and heat pumps (except household type equipment) imported in MENA rose markedly to X units, surging by X% on the previous year. Over the period under review, imports, however, recorded a mild shrinkage. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports reached the peak of X units. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, commercial refrigeration equipment imports stood at $X in 2023. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

Turkey (X units) and the United Arab Emirates (X units) represented roughly X% of total imports in 2023. It was distantly followed by Israel (X units), Saudi Arabia (X units), Iraq (X units) and Morocco (X units), together creating a X% share of total imports. The following importers - Egypt (X units), Kuwait (X units), Oman (X units), Algeria (X units), Qatar (X units), Jordan (X units) and Iran (X units) - together made up X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Morocco (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest commercial refrigeration equipment importing markets in MENA were Turkey ($X), the United Arab Emirates ($X) and Israel ($X), with a combined X% share of total imports.

Israel, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per unit in 2023, with a decrease of X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2018 when the import price increased by X%. The level of import peaked at $X per unit in 2022, and then contracted modestly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per unit), while Iran ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform