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Cuba - Compressors for Refrigeration Equipment - Market Analysis, Forecast, Size, Trends and Insights
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Refrigerator Compressor Market Size in Cuba
For the sixth consecutive year, the Cuban refrigerator compressor market recorded decline in sales value, which decreased by -19.8% to $X in 2021. In general, consumption showed a deep setback. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.
Refrigerator Compressor Exports
Exports from Cuba
In 2021, the amount of compressors for refrigeration equipment exported from Cuba surged to X units, with an increase of 40% compared with the previous year's figure. Over the period under review, exports, however, faced a deep setback. The growth pace was the most rapid in 2017 with an increase of 819%. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.
In value terms, refrigerator compressor exports skyrocketed to $X in 2021. In general, exports, however, saw a sharp shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 1,272% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.
Exports by Country
Belgium (X units) was the main destination for refrigerator compressor exports from Cuba, accounting for a 85% share of total exports. Moreover, refrigerator compressor exports to Belgium exceeded the volume sent to the second major destination, Spain (X units), sixfold.
From 2012 to 2021, the average annual rate of growth in terms of volume to Belgium totaled +71.1%.
In value terms, Belgium ($X) and Spain ($X) constituted the largest markets for refrigerator compressor exported from Cuba worldwide.
In terms of the main countries of destination, Belgium, with a CAGR of +87.8%, saw the highest growth rate of the value of exports, over the period under review.
Export Prices by Country
In 2021, the average refrigerator compressor export price amounted to $X per unit, rising by 59% against the previous year. Overall, the export price, however, saw a abrupt slump. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.
Prices varied noticeably country of destination: the country with the highest price was Spain ($X per unit), while the average price for exports to Belgium stood at $X per unit.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (+29.1%), while the prices for the other major destinations experienced more modest paces of growth.
Refrigerator Compressor Imports
Imports into Cuba
In 2021, overseas purchases of compressors for refrigeration equipment decreased by -13.1% to X units, falling for the fifth year in a row after two years of growth. In general, imports faced a deep downturn. The pace of growth appeared the most rapid in 2013 when imports increased by 56%. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports failed to regain momentum.
In value terms, refrigerator compressor imports dropped dramatically to $X in 2021. Over the period under review, imports showed a abrupt setback. The growth pace was the most rapid in 2015 with an increase of 55%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.
Imports by Country
Panama (X units), China (X units) and Spain (X units) were the main suppliers of refrigerator compressor imports to Cuba, together comprising 90% of total imports.
From 2012 to 2021, the biggest increases were in China (with a CAGR of +3.2%), while purchases for the other leaders experienced a decline.
In value terms, the largest refrigerator compressor suppliers to Cuba were Panama ($X), China ($X) and Spain ($X), together comprising 71% of total imports.
In terms of the main suppliers, China, with a CAGR of -3.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.
Import Prices by Country
The average refrigerator compressor import price stood at $X per unit in 2021, which is down by -10.7% against the previous year. In general, import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, refrigerator compressor import price decreased by -39.2% against 2019 indices. The growth pace was the most rapid in 2014 when the average import price increased by 30%. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.
Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+24.6%), while the prices for the other major suppliers experienced more modest paces of growth.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the refrigerator compressor market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 28132300 - Compressors for refrigeration equipment
Country coverage:
- Cuba
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Cuba
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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