U.S. - Refrigerators And Freezers - Market Analysis, Forecast, Size, Trends and Insights
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View PricingUnited States Sees Decline in Refrigerator and Freezer Imports to $8.2 Billion in 2023
U.S. Refrigerator and Freezer Imports
In 2023, purchases abroad of refrigerators and freezers decreased by -14.6% to 18M units, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2020 with an increase of 50%. Imports peaked at 22M units in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.
In value terms, refrigerator and freezer imports shrank to $8.2B (IndexBox estimates) in 2023. In general, total imports indicated a prominent expansion from 2013 to 2023: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 25%. Over the period under review, imports attained the peak figure at $8.8B in 2022, and then shrank in the following year.
| COUNTRY | Import Value of Refrigerator and Freezer in U.S. (billion USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Mexico | 2.5 | 2.6 | 2.9 | 3.1 | 3.1 | 3.3 | 3.3 | 3.0 | 3.5 | 4.1 | 4.1 |
| South Korea | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.0 | 1.3 | 1.4 | 2.1 | 2.0 | 1.9 |
| China | 0.8 | 1.0 | 1.0 | 1.1 | 1.2 | 1.5 | 1.1 | 1.6 | 1.9 | 1.6 | 1.2 |
| Thailand | N/A | N/A | N/A | N/A | 0.1 | 0.1 | 0.2 | 0.3 | 0.4 | 0.5 | 0.5 |
| Turkey | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 0.2 | 0.2 | 0.2 |
| Others | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 | 0.3 |
| Total | 4.7 | 4.9 | 5.4 | 5.6 | 5.9 | 6.3 | 6.1 | 6.7 | 8.4 | 8.8 | 8.2 |
Imports by Country
China (8.1M units), Mexico (5.9M units) and Thailand (1.6M units) were the main suppliers of refrigerator and freezer imports to the United States, with a combined 88% share of total imports.
From 2013 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +61.1%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Mexico ($4.1B) constituted the largest supplier of refrigerators and freezers to the United States, comprising 50% of total imports. The second position in the ranking was taken by South Korea ($1.9B), with a 23% share of total imports. It was followed by China, with a 14% share.
From 2013 to 2023, the average annual growth rate of value from Mexico amounted to +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+5.4% per year) and China (+3.3% per year).
Imports by Type
Combined refrigerators-freezers (11M units) and household refrigerators and freezers (not combined) (6.6M units) were the main products of refrigerator and freezer imports to the United States.
From 2013 to 2023, the biggest increases were recorded for combined refrigerators-freezers (with a CAGR of +6.3%).
In value terms, combined refrigerators-freezers ($7.1B) constituted the largest type of refrigerators and freezers supplied to the United States, comprising 86% of total imports. The second position in the ranking was held by household refrigerators and freezers (not combined) ($1.1B), with a 14% share of total imports.
Import Prices by Country
In 2023, the refrigerator and freezer price stood at $461 per unit (CIF, US), increasing by 10% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 23%. Over the period under review, average import prices attained the maximum in 2023 and is likely to see steady growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($1.3 thousand per unit), while the price for China ($144 per unit) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (+1.6%), while the prices for the other major suppliers experienced a decline.
This report provides an in-depth analysis of the refrigerator and freezer market in the U.S.. 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:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- 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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
