Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Mexico - 2023

Contents:

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

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

In 2022, the average import price for refrigerating or freezing equipment; parts thereof, other than furniture amounted to $63 per unit, with an increase of 14% against the previous year. Overall, the import price enjoyed a buoyant increase. The pace of growth was the most pronounced in 2014 an increase of 50%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Vietnam ($63 per unit) and the United States ($63 per unit), while the price for Thailand ($63 per unit) and South Korea ($63 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.0%), 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 Mexico (FOB) - 2022

The average export price for refrigerating or freezing equipment; parts thereof, other than furniture stood at $54 per unit in 2022, increasing by 3.1% against the previous year. Over the period under review, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for refrigerating or freezing equipment; parts thereof, other than furniture decreased by -6.8% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of 38%. Over the period under review, the average export prices attained the maximum at $58 per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +7.5% per year.

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

In 2022, imports of refrigerating or freezing equipment; parts thereof, other than furniture into Mexico contracted to 8.9M units, dropping by -6.9% against the previous year's figure. The total import volume increased at an average annual rate of +1.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 34%. As a result, imports reached the peak of 9.6M units, and then reduced in the following year.

In value terms, imports of refrigerating or freezing equipment; parts thereof, other than furniture expanded remarkably to $558M in 2022. Overall, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +10.0% 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 +46.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 38%. Imports peaked in 2022 and are expected to retain growth in years to come.

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

1. China (3.5M units)
2. United States (2.4M units)
3. South Korea (2.1M units)
4. Indonesia (0.3M units)
5. Vietnam (0.2M units)
6. Thailand (0.2M units)

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

In 2022, the amount of refrigerating or freezing equipment; parts thereof, other than furniture exported from Mexico surged to 9.4M units, growing by 27% compared with 2021 figures. In general, total exports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +12.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.5% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of refrigerating or freezing equipment; parts thereof, other than furniture soared to $506M in 2022. Overall, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +13.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.2% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

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

1. United States (9.2M units)

Source: IndexBox Market Intelligence Platform