Aug 31, 2025
IndexBox has just published a new report: United Kingdom – Compressors For Refrigeration Equipment – Market Analysis, Forecast, Size, Trends And Insights.
The UK refrigerator compressor market is set to experience growth in both volume and value over the period from 2024 to 2035. The market is forecasted to see a slight increase in performance, with a projected CAGR of +0.6% in volume and +2.1% in value. By the end of 2035, the market is expected to reach 1.5M units in volume and $188M in value (in nominal wholesale prices).
Market Forecast
Driven by rising demand for refrigerator compressor in the UK, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.6% for the period from 2024 to 2035, which is projected to bring the market volume to 1.5M units by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +2.1% for the period from 2024 to 2035, which is projected to bring the market value to $188M (in nominal wholesale prices) by the end of 2035.
ConsumptionUnited Kingdom’s Consumption of Compressors For Refrigeration Equipment
In 2024, consumption of compressors for refrigeration equipment decreased by -14% to 1.4M units, falling for the second year in a row after two years of growth. Over the period under review, consumption showed a pronounced decrease. Refrigerator compressor consumption peaked at 1.8M units in 2015; however, from 2016 to 2024, consumption remained at a lower figure.
The value of the refrigerator compressor market in the UK dropped rapidly to $149M in 2024, with a decrease of -20.4% 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). In general, consumption recorded a noticeable setback. Over the period under review, the market attained the maximum level at $208M in 2013; however, from 2014 to 2024, consumption remained at a lower figure.
ProductionUnited Kingdom’s Production of Compressors For Refrigeration Equipment
Refrigerator compressor production in the UK declined to 175K units in 2024, approximately mirroring the previous year’s figure. Over the period under review, production saw a pronounced contraction. The growth pace was the most rapid in 2023 when the production volume increased by 2.2% against the previous year. Over the period under review, production attained the maximum volume at 301K units in 2013; however, from 2014 to 2024, production stood at a somewhat lower figure.
In value terms, refrigerator compressor production soared to $59M in 2024 estimated in export price. Overall, production saw a perceptible descent. Over the period under review, production hit record highs at $87M in 2013; however, from 2014 to 2024, production remained at a lower figure.
ImportsUnited Kingdom’s Imports of Compressors For Refrigeration Equipment
In 2024, overseas purchases of compressors for refrigeration equipment decreased by -25.2% to 1.5M units for the first time since 2020, thus ending a three-year rising trend. Overall, imports continue to indicate a slight reduction. The most prominent rate of growth was recorded in 2022 with an increase of 27%. Over the period under review, imports attained the peak figure at 2.1M units in 2023, and then reduced rapidly in the following year.
In value terms, refrigerator compressor imports fell dramatically to $217M in 2024. In general, total imports indicated a slight increase from 2013 to 2024: its value increased at an average annual rate of +1.5% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports increased by +105.3% against 2020 indices. The growth pace was the most rapid in 2022 with an increase of 47%. Over the period under review, imports hit record highs at $279M in 2023, and then dropped sharply in the following year.
Imports By Country
In 2024, China (579K units) constituted the largest supplier of refrigerator compressor to the UK, with a 38% share of total imports. Moreover, refrigerator compressor imports from China exceeded the figures recorded by the second-largest supplier, Poland (194K units), threefold. Japan (159K units) ranked third in terms of total imports with a 10% share.
From 2013 to 2024, the average annual rate of growth in terms of volume from China amounted to +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+11.3% per year) and Japan (+0.1% per year).
In value terms, China ($47M), Japan ($42M) and Germany ($27M) appeared to be the largest refrigerator compressor suppliers to the UK, with a combined 53% share of total imports.
China, with a CAGR of +20.3%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices By Country
In 2024, the average refrigerator compressor import price amounted to $141 per unit, picking up by 3.9% against the previous year. Overall, import price indicated a pronounced expansion from 2013 to 2024: its price increased at an average annual rate of +2.6% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, refrigerator compressor import price increased by +66.6% against 2020 indices. The most prominent rate of growth was recorded in 2023 when the average import price increased by 34% against the previous year. The import price peaked in 2024 and is expected to retain growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($436 per unit), while the price for Spain ($21 per unit) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by China (+16.6%), while the prices for the other major suppliers experienced more modest paces of growth.
ExportsUnited Kingdom’s Exports of Compressors For Refrigeration Equipment
In 2024, after two years of growth, there was significant decline in shipments abroad of compressors for refrigeration equipment, when their volume decreased by -48.6% to 309K units. Overall, exports, however, continue to indicate perceptible growth. The most prominent rate of growth was recorded in 2015 with an increase of 67%. The exports peaked at 610K units in 2019; however, from 2020 to 2024, the exports failed to regain momentum.
In value terms, refrigerator compressor exports reduced to $126M in 2024. Over the period under review, total exports indicated prominent growth from 2013 to 2024: its value increased at an average annual rate of +6.5% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +16.3% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 26% against the previous year. Over the period under review, the exports reached the maximum at $132M in 2023, and then declined in the following year.
Exports By Country
The United Arab Emirates (86K units) was the main destination for refrigerator compressor exports from the UK, accounting for a 28% share of total exports. Moreover, refrigerator compressor exports to the United Arab Emirates exceeded the volume sent to the second major destination, Poland (43K units), twofold. The third position in this ranking was held by the United States (35K units), with an 11% share.
From 2013 to 2024, the average annual growth rate of volume to the United Arab Emirates stood at +67.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+16.8% per year) and the United States (+25.3% per year).
In value terms, the largest markets for refrigerator compressor exported from the UK were the United States ($19M), the United Arab Emirates ($16M) and Germany ($4.3M), with a combined 31% share of total exports.
Among the main countries of destination, the United Arab Emirates, with a CAGR of +52.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices By Country
The average refrigerator compressor export price stood at $409 per unit in 2024, surging by 86% against the previous year. Overall, the export price posted a notable expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major foreign markets. In 2024, amid the top suppliers, the country with the highest price was the United States ($553 per unit), while the average price for exports to Italy ($36 per unit) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+3.0%), while the prices for the other major destinations experienced a decline.