Price for Non-Furniture Refrigerating or Freezing Equipment in the UK - 2023
Contents:
- Price for Non-Furniture Refrigerating or Freezing Equipment in the UK (CIF) - 2023
- Price for Non-Furniture Refrigerating or Freezing Equipment in the UK (FOB) - 2022
- Imports of Non-Furniture Refrigerating or Freezing Equipment in the UK
- Exports of Non-Furniture Refrigerating or Freezing Equipment in the UK
Price for Non-Furniture Refrigerating or Freezing Equipment in the UK (CIF) - 2023
In June 2023, the average import price for non-furniture refrigerating or freezing equipment amounted to $296 per unit, dropping by -7.2% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.2%. The pace of growth was the most pronounced in November 2022 an increase of 14% against the previous month. Over the period under review, average import prices attained the peak figure at $329 per unit in January 2023; however, from February 2023 to June 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($794 per unit), while the price for China ($138 per unit) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by France (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Non-Furniture Refrigerating or Freezing Equipment in the UK (FOB) - 2022
The average export price for non-furniture refrigerating or freezing equipment stood at $391 per unit in 2022, declining by -11.8% against the previous year. Over the period under review, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-furniture refrigerating or freezing equipment export price increased by +62.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 84% against the previous year. As a result, the export price reached the peak level of $443 per unit, and then declined in the following year.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($2,070 per unit), while the average price for exports to Turkey ($68 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 Ireland (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Non-Furniture Refrigerating or Freezing Equipment in the UK
In 2022, non-furniture refrigerating or freezing equipment imports into the UK expanded significantly to 1.6M units, increasing by 14% on the previous year's figure. The total import volume increased at an average annual rate of +3.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 33%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, non-furniture refrigerating or freezing equipment imports soared to $400M in 2022. Overall, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +18.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +84.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 43%. Imports peaked in 2022 and are likely to see gradual growth in the near future.
| Import of Non-Furniture Refrigerating or Freezing Equipment in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 37.7 | 32.7 | 49.3 | 85.9 | 31.6% |
| Italy | 43.6 | 40.3 | 56.6 | 85.2 | 25.0% |
| France | 22.4 | 26.9 | 25.9 | 47.6 | 28.6% |
| Germany | 32.1 | 28.2 | 35.8 | 40.4 | 8.0% |
| United States | 47.7 | 32.6 | 29.7 | 31.2 | -13.2% |
| Ireland | 2.9 | 3.4 | 17.1 | 23.5 | 100.9% |
| Netherlands | 12.6 | 25.4 | 49.9 | 12.1 | -1.3% |
| Malaysia | 1.0 | 1.0 | 6.2 | 11.5 | 125.7% |
| Spain | 7.8 | 4.8 | 10.3 | 8.7 | 3.7% |
| Others | 30.9 | 21.3 | 29.5 | 53.5 | 20.1% |
| Total | 239 | 216 | 310 | 400 | 18.7% |
Top Suppliers of Non-Furniture Refrigerating or Freezing Equipment to the UK in 2022:
- China (451.1K units)
- Italy (392.2K units)
- France (238.7K units)
- Spain (172.7K units)
- Malaysia (100.8K units)
- Ireland (88.8K units)
- Germany (86.6K units)
- Netherlands (42.6K units)
- United States (30.4K units)
Exports of Non-Furniture Refrigerating or Freezing Equipment in the UK
In 2022, overseas shipments of non-furniture refrigerating or freezing equipment were finally on the rise to reach 448K units for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, recorded a mild downturn. Over the period under review, the exports reached the peak figure at 466K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, non-furniture refrigerating or freezing equipment exports reached $175M in 2022. Over the period under review, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +9.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +64.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 64% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.
| Export of Non-Furniture Refrigerating or Freezing Equipment in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 23.3 | 18.1 | 22.9 | 27.8 | 6.1% |
| United States | 28.4 | 27.1 | 20.9 | 24.8 | -4.4% |
| Germany | 7.2 | 7.3 | 15.4 | 18.2 | 36.2% |
| Ireland | 4.8 | 4.0 | 12.1 | 16.9 | 52.1% |
| China | 8.1 | 8.1 | 17.7 | 11.1 | 11.1% |
| Slovakia | 2.4 | 3.3 | 7.0 | 10.0 | 60.9% |
| France | 8.3 | 4.5 | 7.0 | 7.9 | -1.6% |
| United Arab Emirates | 1.9 | 1.2 | 1.1 | 6.7 | 52.2% |
| South Korea | 3.4 | 2.3 | 8.0 | 4.6 | 10.6% |
| Ethiopia | 5.2 | 2.7 | 3.8 | 3.9 | -9.1% |
| Italy | 1.2 | 0.9 | 2.7 | 3.2 | 38.7% |
| Spain | 2.6 | 1.0 | 1.2 | 2.3 | -4.0% |
| Turkey | 0.5 | 0.7 | 0.1 | 1.3 | 37.5% |
| Others | 37.4 | 25.4 | 55.2 | 36.3 | -1.0% |
| Total | 135 | 106 | 175 | 175 | 9.0% |
Top Export Markets for Non-Furniture Refrigerating or Freezing Equipment from the UK in 2022:
- Netherlands (143.5K units)
- Ireland (58.4K units)
- Germany (53.7K units)
- Slovakia (38.3K units)
- United Arab Emirates (37.8K units)
- Ethiopia (29.4K units)
- France (20.6K units)
- Italy (20.1K units)
- Turkey (18.6K units)
- Spain (14.3K units)
- China (13.8K units)
- South Korea (12.1K units)
- United States (12.0K units)
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