The import of compressors for refrigerating equipment to Indonesia has seen varied fluctuations from 2013 to 2023, peaking in 2013 at $325.68 million and hitting a low in 2020 at $165.92 million. By 2023, the value stood at $203.69 million. Over the past two years (2022-2023), there was a marginal year-on-year increase of 0.63% and 0.61% respectively. The compound annual growth rate (CAGR) for the last five years up to 2023 is 1.23%. Looking ahead, the forecast for 2024 to 2028 expects a steady, albeit slow, increase with a forecasted 5-year CAGR of 0.49%, amounting to a total growth rate of 2.48%.
Future trends to watch for:
- Impact of energy efficiency regulations on compressor demand
- Technological advancements in refrigerating equipment
- Changes in Indonesia's import policies and tariffs
- Economic factors influencing consumer demand for refrigeration
