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U.S. - Refrigerators And Freezers - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

U.S. - Refrigerators And Freezers - Market Analysis, Forecast, Size, Trends and Insights

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Sep 17, 2023

Import of Refrigerators and Freezers in the United States Surges by 6% to $730M in July 2023

U.S. Refrigerator and Freezer Imports

In July 2023, after six months of growth, there was significant decline in overseas purchases of refrigerators and freezers, when their volume decreased by -5% to 1.6M units. Over the period under review, imports continue to indicate a mild shrinkage. The growth pace was the most rapid in May 2023 when imports increased by 14% month-to-month. Imports peaked at 2M units in July 2022; however, from August 2022 to July 2023, imports remained at a lower figure.

In value terms, refrigerator and freezer imports expanded notably to $730M (IndexBox estimates) in July 2023. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 when imports increased by 21% against the previous month. Over the period under review, imports hit record highs at 799M units in July 2022; however, from August 2022 to July 2023, imports stood at a somewhat lower figure. U.S. Refrigerator and Freezer Imports By Country (Million USD)

COUNTRYImport Value of Refrigerator and Freezer in U.S. (million USD)
Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023
Mexico399354359366323297279333375310341359365
South Korea156124117138168117106140194190184144180
China15113710210376.181.480.577.270.184.691.295.795.7
Thailand42.260.039.544.926.228.041.323.642.042.340.447.744.8
Others51.646.544.144.437.841.336.328.646.037.249.442.544.9
Total799721662696631565543602727664706689730

Imports by Country

China (750K units), Mexico (519K units) and South Korea (134K units) were the main suppliers of refrigerator and freezer imports to the United States, together accounting for 88% of total imports.

From July 2022 to July 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +0.2%), while imports for the other leaders experienced a decline.

In value terms, Mexico ($365M) constituted the largest supplier of refrigerator and freezer to the United States, comprising 50% of total imports. The second position in the ranking was taken by South Korea ($180M), with a 25% share of total imports. It was followed by China, with a 13% share.

From July 2022 to July 2023, the average monthly growth rate of value from Mexico was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: South Korea (+1.2% per month) and China (-3.7% per month).

Imports by Type

Combined refrigerators-freezers (942K units) and household refrigerators and freezers (not combined) (655K units) were the main products of refrigerator and freezer imports to the United States.

From July 2022 to July 2023, the most notable rate of growth in terms of purchases, amongst the major product types, was attained by combined refrigerator-freezer (with a CAGR of -1.6%).

In value terms, combined refrigerators-freezers ($627M) constituted the largest type of refrigerator and freezer supplied to the United States, comprising 86% of total imports. The second position in the ranking was taken by household refrigerators and freezers (not combined) ($103M), with a 14% share of total imports.

Import Prices by Country

In July 2023, the refrigerator and freezer price amounted to $457 per unit (CIF, US), growing by 12% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.1%. The growth pace was the most rapid in September 2022 an increase of 12% m-o-m. Over the period under review, average import prices attained the peak figure at $528 per unit in March 2023; however, from April 2023 to July 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was South Korea ($1,337 per unit), while the price for China ($128 per unit) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by South Korea (+1.0%), while the prices for the other major suppliers 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 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:

  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 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    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 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    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, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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