Compressors for refrigerating equipment market in Spain

Earlier Report Observations

In 2018, the market volume for refrigerating compressors in Spain reached 4 275 thousand units, a level supported by state subsidies for retrofitting refrigeration systems with low-global-warming alternative refrigerants. Production then increased to 1 523 thousand units in 2019 after new national safety regulations for refrigeration installations mandated equipment upgrades and replacements to meet stricter standards.

Production contracted to 897 thousand units in 2020, while market volume expanded to 3 553 thousand units. Stricter mandatory inspection rules for air-conditioning and refrigeration systems, introduced in 2021, encouraged equipment renewal, helping lift market volume further to 5 189 thousand units. European eco-design and energy-labeling regulations, applicable from March 2022, prompted the development and adoption of higher-efficiency compressors across the market.

Updated F-Gas norms and the growing adoption of variable-speed compressor technology spurred a 51% production jump to 1 094 thousand units in 2023. The entry into force of the new EU F-Gas Regulation in 2024, coupled with technological advances led by major players such as Daikin and Bitzer, pushed production further to 1 227 thousand units.

Production compressors for refrigerating equipment in Spain

In value, 2017-2020, K $ US

In 2020, Spain's output of compressors for refrigerating equipment was valued at 77 403 thousand US dollars, marking a solid decline of 18.1% compared to 2019. Over the period from 2017 to 2020, production decreased by 18.6%, which translates to an annualized rate of 6.6%. The largest increase occurred in 2019, at 7.9%.

Annual dynamics of production in Spain in value, 2017-2020, K $ US

In kind, 2017-2020, K unit

In 2020, Spain produced 897 thousand units of compressors for refrigerating equipment, representing a dramatic decrease of 41.1% from the previous year. From 2017 to 2020, production fell by 50.3%, with a compound annual growth rate of -20.8%. The largest increase was recorded in 2019, at 5.2%.

Annual dynamics of production in Spain in kind, 2017-2020, K unit

Exports compressors for refrigerating equipment from Spain

Exports in kind, K unit

The data shows irregular changes, indicating a volatile market environment. In 2020, exports of compressors for refrigerating equipment from Spain totaled 980 thousand units, a decline of 69.1% compared to 2019. The maximum value was recorded in 2019 at 3 166 thousand units, with the largest increase that year at 85.0%. The variation between the minimum in 2020 and the maximum in 2019 was 3.2-fold.

Annual dynamics of product's exports from Spain in kind, 2017-2020, K unit

From 2017 to 2020, exports in kind of compressors for refrigerating equipment from Spain were widely dispersed across partner countries. Italy accounted for 29.9% of exports in kind, Morocco for 11.5%, and Portugal for 8.0%, together representing only 49.4% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Spain in kind, 2017-2020

Exports in value, M $ US

Spain's exports of compressors for refrigerating equipment declined for the third consecutive year. In 2020, exports totaled 65.1 million US dollars, reflecting a robust decrease of 24.0% compared to 2019. Over the period from 2017 to 2020, exports decreased by 39.8%, with a compound annual growth rate of -15.6%.

Annual dynamics of product's exports from Spain in value, 2017-2020, M $ US

From 2017 to 2020, exports in value terms of compressors for refrigerating equipment from Spain were characterized by a broad spread across markets. Italy accounted for 10.5% of exports in value terms, Morocco for 9.6%, and Turkey for 9.2%, together making up only 29.3% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Spain in value, 2017-2020

Imports compressors for refrigerating equipment to Spain

Imports in kind, K unit

Imports of compressors for refrigerating equipment into Spain declined for the second consecutive year. In 2020, imports amounted to 3 636 thousand units, showing a solid fall of 14.2% compared to the previous year. Between 2017 and 2020, imports decreased by 18.4%, equating to an annualized rate of 6.6%. The maximum value was recorded in 2018 at 4 538 thousand units, with the largest increase that year at 1.9%.

Annual dynamics of product's imports to Spain in kind, 2017-2020, K unit

From 2017 to 2020, China, Germany, and Japan continued to be the main suppliers of compressors for refrigerating equipment to Spain. China accounted for 36.2% of imports in kind, Germany for 13.5%, and Japan for 8.9%, jointly forming 58.7% of total imports in kind.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Spain in kind, 2017-2020

Imports in value, M $ US

Spain's imports of compressors for refrigerating equipment declined for the second consecutive year. In 2020, imports were recorded at 251.9 million US dollars, corresponding to a solid contraction of 13.2% compared to 2019. Over the period from 2017 to 2020, imports decreased by 17.5%, with a compound annual growth rate of -6.2%. The maximum value was recorded in 2018 at 327.1 million US dollars, with the largest increase that year at 7.1%.

Annual dynamics of product's imports to Spain in value, 2017-2020, M $ US

From 2017 to 2020, the country structure of imports in value terms remained highly diversified. Germany accounted for 21.7% of imports in value terms, Japan for 12.3%, and China for 11.5%, together representing only 45.5% of total flows. A long tail of smaller markets made up the remaining 54.5%.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Spain in value, 2017-2020