Refrigerating Show-Cases Market

The article provides a comprehensive analysis of the global market for refrigerating or freezing display counters, cabinets, and show-cases. It highlights the expected consumption trends, market performance forecast, production, imports, and exports. Detailed data on market volume, value, consumption patterns, and key countries involved in the market are also discussed. The analysis covers the period from 2012 to 2022 and provides insights into growth rates, fluctuations, and future outlooks for the market.

Market Forecast

Driven by increasing demand for refrigerating or freezing display counters, cabinets, show-cases worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.2% for the period from 2022 to 2030, which is projected to bring the market volume to 37M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.1% for the period from 2022 to 2030, which is projected to bring the market value to $27.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Refrigerating or Freezing Display Counters, Cabinets, Show-cases

In 2022, after six years of growth, there was decline in consumption of refrigerating or freezing display counters, cabinets, show-cases, when its volume decreased by -2.8% to 34M units. The total consumption volume increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption hit record highs at 35M units in 2021, and then contracted modestly in the following year.

The global refrigerating show-cases market value contracted to $21.8B in 2022, dropping by -5.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market hit record highs at $23B in 2021, and then contracted in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (6.3M units), the United States (3.4M units) and India (2.7M units), together comprising 37% of global consumption. Indonesia, Brazil, the UK, Russia, Germany, the Czech Republic, Mexico, Australia, France and Iran lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +14.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($2.6B), the United States ($1.6B) and Indonesia ($1.3B) appeared to be the countries with the highest levels of market value in 2022, with a combined 25% share of the global market. India, Mexico, Russia, Brazil, Iran, Germany, France, the UK, the Czech Republic and Australia lagged somewhat behind, together comprising a further 32%.

Australia, with a CAGR of +11.5%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of refrigerating show-cases per capita consumption was registered in the Czech Republic (91 units per 1000 persons), followed by Australia (33 units per 1000 persons), the UK (19 units per 1000 persons) and Germany (12 units per 1000 persons), while the world average per capita consumption of refrigerating show-cases was estimated at 4.3 units per 1000 persons.

In the Czech Republic, refrigerating show-cases per capita consumption increased at an average annual rate of +3.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Australia (+10.6% per year) and the UK (+13.4% per year).

Production

World Production of Refrigerating or Freezing Display Counters, Cabinets, Show-cases

In 2022, after six years of growth, there was decline in production of refrigerating or freezing display counters, cabinets, show-cases, when its volume decreased by -3.7% to 31M units. Over the period under review, the total production indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +31.6% against 2014 indices. The pace of growth appeared the most rapid in 2014 with an increase of 13% against the previous year. Over the period under review, global production hit record highs at 33M units in 2021, and then shrank in the following year.

In value terms, refrigerating show-cases production declined modestly to $25.8B in 2022 estimated in export price. Overall, the total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.1% against 2020 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 30% against the previous year. As a result, production attained the peak level of $36.9B. From 2020 to 2022, global production growth remained at a lower figure.

Production By Country

China (12M units) remains the largest refrigerating show-cases producing country worldwide, accounting for 37% of total volume. Moreover, refrigerating show-cases production in China exceeded the figures recorded by the second-largest producer, India (2.6M units), fourfold. The third position in this ranking was held by Russia (1.6M units), with a 5% share.

In China, refrigerating show-cases production expanded at an average annual rate of +6.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+3.6% per year) and Russia (+5.2% per year).

Imports

World Imports of Refrigerating or Freezing Display Counters, Cabinets, Show-cases

For the seventh year in a row, the global market recorded growth in overseas purchases of refrigerating or freezing display counters, cabinets, show-cases, which increased by 5% to 13M units in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +63.3% against 2014 indices. The most prominent rate of growth was recorded in 2021 with an increase of 23%. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, refrigerating show-cases imports reached $7.5B in 2022. The total import value increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 33%. Global imports peaked in 2022 and are expected to retain growth in the near future.

Imports By Country

In 2022, the United States (2.6M units), distantly followed by the UK (1.3M units), Germany (1.1M units) and France (0.7M units) represented the main importers of refrigerating or freezing display counters, cabinets, show-cases, together committing 43% of total imports. The following importers - the Netherlands (511K units), Greece (375K units), Italy (361K units), Australia (353K units), Belgium (335K units), Canada (269K units), Spain (259K units), Sweden (249K units) and Poland (216K units) - together made up 22% of total imports.

From 2012 to 2022, average annual rates of growth with regard to refrigerating show-cases imports into the United States stood at +9.4%. At the same time, the UK (+13.3%), Sweden (+11.3%), the Netherlands (+10.7%), Australia (+10.6%), Germany (+9.7%), Belgium (+9.3%), Poland (+8.5%), Italy (+7.1%), Canada (+5.9%), France (+5.5%) and Spain (+2.5%) displayed positive paces of growth. Moreover, the UK emerged as the fastest-growing importer imported in the world, with a CAGR of +13.3% from 2012-2022. Greece experienced a relatively flat trend pattern. The UK (+4.3 p.p.), the United States (+4 p.p.) and Germany (+1.9 p.p.) significantly strengthened its position in terms of the global imports, while Greece saw its share reduced by -2.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($1.3B) constitutes the largest market for imported refrigerating or freezing display counters, cabinets, show-cases worldwide, comprising 17% of global imports. The second position in the ranking was held by Germany ($611M), with an 8.1% share of global imports. It was followed by France, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +11.5%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+0.5% per year) and France (+4.7% per year).

Import Prices By Country

In 2022, the average refrigerating show-cases import price amounted to $558 per unit, remaining stable against the previous year. Overall, the import price saw a noticeable reduction. The most prominent rate of growth was recorded in 2021 an increase of 8.1%. Global import price peaked at $725 per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Australia ($832 per unit), while Greece ($131 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+4.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Refrigerating or Freezing Display Counters, Cabinets, Show-cases

In 2022, the amount of refrigerating or freezing display counters, cabinets, show-cases exported worldwide expanded modestly to 11M units, surging by 3.7% on the year before. Over the period under review, exports posted a buoyant increase. The pace of growth was the most pronounced in 2018 when exports increased by 30%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, refrigerating show-cases exports rose to $7.8B in 2022. The total export value increased at an average annual rate of +4.6% over the period from 2012 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 exports increased by 31%. Over the period under review, the global exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports By Country

In 2022, China (5.3M units) was the main exporter of refrigerating or freezing display counters, cabinets, show-cases, committing 47% of total exports. It was distantly followed by Italy (780K units) and Turkey (712K units), together achieving a 13% share of total exports. The following exporters - Russia (381K units), Austria (366K units), the Netherlands (352K units), Mexico (338K units), Germany (251K units), Spain (215K units), Thailand (194K units), the Czech Republic (191K units) and Belgium (183K units) - together made up 22% of total exports.

From 2012 to 2022, average annual rates of growth with regard to refrigerating show-cases exports from China stood at +13.6%. At the same time, Russia (+23.6%), Belgium (+14.9%), Thailand (+11.7%), the Czech Republic (+10.7%), Spain (+9.5%), the Netherlands (+6.3%), Turkey (+5.4%), Germany (+5.1%), Italy (+1.9%) and Mexico (+1.5%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing exporter exported in the world, with a CAGR of +23.6% from 2012-2022. Austria experienced a relatively flat trend pattern. China (+21 p.p.) and Russia (+2.6 p.p.) significantly strengthened its position in terms of the global exports, while Mexico, Austria and Italy saw its share reduced by -2.1%, -2.5% and -4.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest refrigerating show-cases supplying countries worldwide were China ($1.8B), Italy ($1.1B) and Austria ($581M), together comprising 46% of global exports.

China, with a CAGR of +14.0%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average refrigerating show-cases export price stood at $694 per unit in 2022, flattening at the previous year. Overall, the export price, however, recorded a pronounced decline. The pace of growth appeared the most rapid in 2015 when the average export price increased by 9% against the previous year. The global export price peaked at $931 per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($1,873 per unit), while China ($347 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform