The export volume of compressors for refrigerating equipment from South Korea stood at 125.43 million kilograms in 2023. Over the preceding decade, the data exhibited significant variability with noteworthy year-on-year shifts: from a high of 20.42% in 2021 to a sharp decline of 23.66% in 2015. Specifically, the annual average variation (CAGR) over the last five years leading up to 2023 was -0.18%, indicating a slightly declining trend.
From 2024 onwards, the forecasted volumes portray a marginally downward trend, with small declines year-over-year. By 2028, the projected value is 125.11 million kilograms, reflecting a negligible 5-year CAGR of -0.04% and an overall forecasted growth rate of -0.2% through this period.
Future trends to watch for:
- Technological advancements in refrigerating equipment that could affect international demand.
- Global economic conditions impacting the supply chain and trade policies.
- Emerging markets with increasing needs for refrigeration technology.
- Environmental regulations influencing compressor manufacturing and export norms.
