Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Australia - 2024

Contents:

1. Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Australia (CIF) - 2022
2. Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Australia (FOB) - 2022
3. Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Australia
4. Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Australia

Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Australia (CIF) - 2022

The average import price for refrigerating or freezing equipment; parts thereof, other than furniture stood at $59 per unit in 2022, surging by 6.7% against the previous year. In general, the import price showed buoyant growth. The growth pace was the most rapid in 2016 an increase of 50%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were New Zealand ($59 per unit) and Thailand ($59 per unit), while the price for South Korea ($59 per unit) and China ($59 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Australia (FOB) - 2022

In 2022, the average export price for refrigerating or freezing equipment; parts thereof, other than furniture amounted to $67 per unit, jumping by 28% against the previous year. Overall, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Vietnam ($67 per unit) and China ($67 per unit), while the average price for exports to the United States ($67 per unit) and Norfolk Island ($67 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+24.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Australia

Imports of refrigerating or freezing equipment; parts thereof, other than furniture into Australia contracted to 1.5M units in 2022, approximately equating 2021 figures. The total import volume increased at an average annual rate of +4.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 33%. As a result, imports reached the peak of 1.5M units, leveling off in the following year.

In value terms, imports of refrigerating or freezing equipment; parts thereof, other than furniture expanded remarkably to $90M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +10.8% 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 +46.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 38% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture to Australia in 2022:

1. China (521.3K units)
2. Thailand (236.2K units)
3. Malaysia (204.3K units)
4. United States (116.2K units)
5. Italy (83.2K units)
6. Turkey (46.7K units)
7. Germany (43.5K units)
8. Japan (40.6K units)
9. South Korea (37.5K units)
10. New Zealand (28.7K units)
11. Sweden (23.1K units)

Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Australia

In 2022, the amount of refrigerating or freezing equipment; parts thereof, other than furniture exported from Australia declined sharply to 127K units, reducing by -24.6% on the previous year's figure. Over the period under review, exports recorded a sharp downturn. The growth pace was the most rapid in 2021 when exports increased by 23% against the previous year. The exports peaked at 275K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of refrigerating or freezing equipment; parts thereof, other than furniture contracted slightly to $8.5M in 2022. Overall, exports faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 15% against the previous year. Over the period under review, the exports of hit record highs at $14M in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Top Export Markets for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture from Australia in 2022:

1. New Zealand (65.1K units)
2. Guinea (13.3K units)
3. Papua New Guinea (10.2K units)
4. Singapore (9.4K units)
5. Fiji (4.2K units)
6. United States (3.5K units)
7. Norfolk Island (2.7K units)
8. China (2.5K units)
9. Netherlands (2.2K units)
10. Philippines (0.3K units)
11. India (0.2K units)

Source: IndexBox Market Intelligence Platform