The import of parts of refrigerating or freezing equipment to Indonesia exhibited notable fluctuations over the past decade. The import value saw its low in 2020 at $60.109 million, but an upward trend began in 2021. By 2023, the import value stood at $75.793 million. The year-on-year variation for the last two years has remained relatively stable, with 1.53% in 2022 and 1.47% in 2023. The compound annual growth rate (CAGR) over the last five years was 1.67%, indicating moderate growth.
Going forward, the import value is forecasted to experience modest growth, with estimated figures reaching $81.546 million by 2028, reflecting a forecasted 5-year CAGR of 1.15% and a 5.9% total growth rate. Several trends should be monitored:
- Technological advancements in refrigerating and freezing equipment.
- Environmental regulations impacting the import of equipment parts.
- Indonesia's economic conditions and industrial sector growth.
These factors will likely influence future import trends and the overall market landscape.
