Africa: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Africa

The African refrigerator or freezer market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption, however, showed a deep reduction. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Refrigerator Or Freezer Production in Africa

In value terms, refrigerator or freezer production declined modestly to $X in 2022 estimated in export price. In general, production, however, showed a deep slump. The pace of growth appeared the most rapid in 2014 when the production volume increased by 39% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Refrigerator Or Freezer Exports

Exports in Africa

In 2022, overseas shipments of furniture designed to receive refrigerating or freezing equipment increased by 5.2% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 65% against the previous year. The volume of export peaked at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, refrigerator or freezer exports reduced slightly to $X in 2022. Overall, exports, however, continue to indicate a noticeable descent. The growth pace was the most rapid in 2015 with an increase of 89%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The biggest shipments were from South Africa (X units), together resulting at 97% of total export.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of furniture designed to receive refrigerating or freezing equipment. From 2012 to 2022, the share of South Africa increased by +7.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest refrigerator or freezer supplier in Africa.

In South Africa, refrigerator or freezer exports plunged by an average annual rate of -3.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Africa amounted to $X per unit, reducing by -7.2% against the previous year. In general, the export price saw a perceptible downturn. The pace of growth appeared the most rapid in 2015 an increase of 54% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to -3.8% per year.

Refrigerator Or Freezer Imports

Imports in Africa

In 2022, overseas purchases of furniture designed to receive refrigerating or freezing equipment increased by 18% to X units, rising for the second consecutive year after two years of decline. Overall, imports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by 22%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, refrigerator or freezer imports expanded rapidly to $X in 2022. Over the period under review, imports, however, continue to indicate a perceptible reduction. The growth pace was the most rapid in 2016 when imports increased by 13%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Algeria (X units) and Tunisia (X units) represented the main importers of furniture designed to receive refrigerating or freezing equipment in Africa, together reaching approx. 40% of total imports. South Africa (X units) ranks next in terms of the total imports with an 8.9% share, followed by Botswana (6.1%) and Sudan (5.4%). Mozambique (X units), Nigeria (X units), Zimbabwe (X units), Morocco (X units), Senegal (X units), Angola (X units), Niger (X units) and Ethiopia (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Algeria (with a CAGR of +39.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Algeria ($X) and Tunisia ($X) were the countries with the highest levels of imports in 2022, together comprising 46% of total imports. Morocco, Sudan, Mozambique, Zimbabwe, Botswana, Nigeria, Angola, Senegal, Niger and Ethiopia lagged somewhat behind, together accounting for a further 34%.

In terms of the main importing countries, Ethiopia, with a CAGR of +32.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Africa amounted to $X per unit, declining by -9.3% against the previous year. Import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refrigerator or freezer import price decreased by -16.5% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 36%. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Morocco ($X per unit), while Botswana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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