Asia: Refrigerator And Freezer Market 2024

Refrigerator And Freezer Market Size in Asia

The Asian refrigerator and freezer market was finally on the rise to reach $X in 2022, after four years of decline. Overall, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Refrigerator And Freezer Production in Asia

In value terms, refrigerator and freezer production dropped modestly to $X in 2022 estimated in export price. The total production indicated modest growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Refrigerator And Freezer Exports

Exports in Asia

In 2022, shipments abroad of refrigerators and freezers decreased by X% to X units for the first time since 2016, thus ending a five-year rising trend. Total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when exports increased by X%. The volume of export peaked at X units in 2021, and then dropped dramatically in the following year.

In value terms, refrigerator and freezer exports declined sharply to $X in 2022. Total exports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2015 indices. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then dropped notably in the following year.

Exports by Country

China was the largest exporting country with an export of around X units, which resulted at X% of total exports. It was distantly followed by Thailand (X units), Turkey (X units) and South Korea (X units), together comprising a X% share of total exports. Indonesia (X units) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to refrigerator and freezer exports from China stood at X%. At the same time, Thailand (X%), South Korea (X%), Indonesia (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. While the share of China (X p.p.) and Thailand (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest refrigerator and freezer supplier in Asia, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, rising by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced a decline in the export price figures.

Refrigerator And Freezer Imports

Imports in Asia

In 2022, purchases abroad of refrigerators and freezers decreased by X% to X units for the first time since 2015, thus ending a six-year rising trend. Overall, imports recorded a pronounced descent. The pace of growth appeared the most rapid in 2020 when imports increased by X%. The volume of import peaked at X units in 2021, and then fell sharply in the following year.

In value terms, refrigerator and freezer imports dropped to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then declined slightly in the following year.

Imports by Country

In 2022, Japan (X units), followed by the United Arab Emirates (X units), Iraq (X units), the Philippines (X units), India (X units), Saudi Arabia (X units), South Korea (X units), Thailand (X units) and Vietnam (X units) were the main importers of refrigerators and freezers, together comprising X% of total imports. Israel (X units), Malaysia (X units), Kazakhstan (X units) and Indonesia (X units) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Thailand (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported refrigerators and freezers in Asia, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with an X% share of total imports. It was followed by India, with a X% share.

In Japan, refrigerator and freezer imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (X% per year) and India (X% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, jumping by X% against the previous year. In general, the import price showed prominent growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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