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Thailand - Refrigerators And Freezers - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Feb 1, 2025

Thailand - Refrigerators And Freezers - Market Analysis, Forecast, Size, Trends and Insights

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Aug 12, 2024

Thailand's Refrigerator and Freezer Exports Drop 8% to $1.7 Billion in 2023

Thailand Refrigerator and Freezer Exports

In 2023, shipments abroad of refrigerators and freezers decreased by -24.7% to 7.2M units, falling for the second consecutive year after three years of growth. Overall, exports, however, saw a temperate increase. The most prominent rate of growth was recorded in 2020 with an increase of 68%. The exports peaked at 12M units in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, refrigerator and freezer exports fell to $1.7B (IndexBox estimates) in 2023. The total export value increased at an average annual rate of +1.2% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 20% against the previous year. The exports peaked at $2B in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.Thailand Refrigerator and Freezer Exports By Country (Million USD)

COUNTRYExport Value of Refrigerator and Freezer in Thailand (million USD)
20132014201520162017201820192020202120222023
United States7.611.412.917.165.768.8143294415398525
Japan294279234226217207248320316315265
Australia114131154161175168155176162169143
Vietnam16216520323423823919219215819497.9
Malaysia10211010685.678.694.874.087.482.982.261.5
United Arab Emirates71.372.265.269.466.344.548.548.980.774.751.3
Canada8.611.812.411.917.014.125.241.154.148.147.7
India35.139.435.845.968.267.966.762.082.784.432.3
Others761746730715720640567607697527524
Total1,5561,5661,5531,5661,6451,5441,5191,8282,0481,8921,748

Exports by Country

the United States (2.3M units) was the main destination for refrigerator and freezer exports from Thailand, with a 31% share of total exports. Moreover, refrigerator and freezer exports to the United States exceeded the volume sent to the second major destination, Japan (1.1M units), twofold. The third position in this ranking was held by Vietnam (521K units), with a 7.2% share.

From 2013 to 2023, the average annual growth rate of volume to the United States stood at +57.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-1.2% per year) and Vietnam (-1.4% per year).

In value terms, the largest markets for refrigerator and freezer exported from Thailand were the United States ($525M), Japan ($265M) and Australia ($143M), together accounting for 53% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +52.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Exports by Type

Household refrigerators and freezers (not combined) (4.4M units) and combined refrigerators-freezers (2.8M units) were the main products of refrigerator and freezer exports from Thailand.

From 2013 to 2023, the biggest increases were recorded for household refrigerators and freezers (not combined) (with a CAGR of +3.3%).

In value terms, household refrigerators and freezers (not combined) ($936M) and combined refrigerators-freezers ($812M) were the most exported types of refrigerators and freezers from Thailand worldwide.

Household refrigerators and freezers (not combined), with a CAGR of +2.2%, saw the highest growth rate of the value of exports, in terms of the main product categories over the period under review.

Export Prices by Country

In 2023, the refrigerator and freezer price stood at $242 per unit (FOB, Thailand), jumping by 23% against the previous year. Over the period under review, the export price, however, recorded a mild decrease. Over the period under review, the average export prices attained the maximum at $331 per unit in 2018; however, from 2019 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($379 per unit), while the average price for exports to the Philippines ($177 per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the refrigerator and freezer market in Thailand. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 27511110 - Combined refrigerators-freezers, with separate external doors
  • Prodcom 27511133 - Household-type refrigerators (including compression-type, e lectrical absorption-type) (excluding built-in)
  • Prodcom 27511135 - Compression-type built-in refrigerators
  • Prodcom 27511150 - Chest freezers of a capacity . .800 litres
  • Prodcom 27511170 - Upright freezers of a capacity . .900 litres

Country coverage:

  • Thailand

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Thailand
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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