Price for Non-Furniture Refrigerating or Freezing Equipment in the United States - 2023

Contents:

1. Price for Non-Furniture Refrigerating or Freezing Equipment in the United States (CIF) - 2023
2. Price for Non-Furniture Refrigerating or Freezing Equipment in the United States (FOB) - 2023
3. Imports of Non-Furniture Refrigerating or Freezing Equipment in the United States
4. Exports of Non-Furniture Refrigerating or Freezing Equipment in the United States

Price for Non-Furniture Refrigerating or Freezing Equipment in the United States (CIF) - 2023

In August 2023, the average import price for non-furniture refrigerating or freezing equipment amounted to $279 per unit, declining by -12.7% against the previous month. Overall, import price indicated a moderate expansion from August 2022 to August 2023: its price increased at an average monthly rate of +3.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, non-furniture refrigerating or freezing equipment import price decreased by -21.8% against June 2023 indices. The pace of growth was the most pronounced in November 2022 an increase of 44% against the previous month. Over the period under review, average import prices reached the maximum at $397 per unit in January 2023; however, from February 2023 to August 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Mexico ($1,042 per unit), while the price for China ($65.7 per unit) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Japan (+26.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Non-Furniture Refrigerating or Freezing Equipment in the United States (FOB) - 2023

In August 2023, the average export price for non-furniture refrigerating or freezing equipment amounted to $2,687 per unit, surging by 29% against the previous month. Over the period from August 2022 to August 2023, it increased at an average monthly rate of +2.6%. Over the period under review, the average export prices reached the maximum at $2,840 per unit in January 2023; afterwards, it flattened through to August 2023.

There were significant differences in the average prices for the major export markets. In August 2023, the country with the highest price was the UK ($17,016 per unit), while the average price for exports to China ($486 per unit) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Furniture Refrigerating or Freezing Equipment in the United States

In 2022, supplies from abroad of non-furniture refrigerating or freezing equipment decreased by -7.7% to 11M units, falling for the second year in a row after two years of growth. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +12.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -16.7% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by 73% against the previous year. As a result, imports attained the peak of 13M units. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, non-furniture refrigerating or freezing equipment imports reduced to $2.2B in 2022. Overall, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +12.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 42% against the previous year. As a result, imports attained the peak of $2.4B, and then contracted in the following year.

Top Suppliers of Non-Furniture Refrigerating or Freezing Equipment to the United States in 2022:

1. China (7.2M units)
2. Mexico (1.3M units)
3. Canada (0.6M units)
4. Japan (0.5M units)
5. Vietnam (0.3M units)
6. South Korea (0.2M units)

Exports of Non-Furniture Refrigerating or Freezing Equipment in the United States

In 2022, shipments abroad of non-furniture refrigerating or freezing equipment was finally on the rise to reach 791K units after two years of decline. Overall, exports, however, continue to indicate a sharp curtailment. The exports peaked at 6.7M 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 rose remarkably to $1.5B in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 14% against the previous year. Over the period under review, the exports attained the peak figure at $1.5B in 2019; afterwards, it flattened through to 2022.

Top Export Markets for Non-Furniture Refrigerating or Freezing Equipment from the United States in 2022:

1. Mexico (1129.5K units)
2. United Kingdom (461.4K units)
3. Canada (362.7K units)
4. China (163.6K units)
5. Saudi Arabia (144.1K units)
6. Taiwan (Chinese) (121.7K units)
7. Japan (60.9K units)
8. United Arab Emirates (49.3K units)
9. Poland (48.2K units)

Source: IndexBox Market Intelligence Platform