Australia and Oceania: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Australia and Oceania

After two years of decline, the refrigerator or freezer market in Australia and Oceania increased by 209% to $X in 2022. Over the period under review, consumption showed a resilient expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Refrigerator Or Freezer Production in Australia and Oceania

In value terms, refrigerator or freezer production reduced to $X in 2022 estimated in export price. Overall, production, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2014 with an increase of 245%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Refrigerator Or Freezer Exports

Exports in Australia and Oceania

In 2022, after five years of growth, there was significant decline in shipments abroad of furniture designed to receive refrigerating or freezing equipment, when their volume decreased by -66.2% to X units. Over the period under review, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of 82% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, refrigerator or freezer exports declined remarkably to $X in 2022. In general, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2014 when exports increased by 73% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Australia (X units) represented the key exporter of furniture designed to receive refrigerating or freezing equipment, achieving 67% of total exports. It was distantly followed by New Zealand (X units), creating a 32% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to refrigerator or freezer exports from Australia stood at -15.8%. New Zealand (-5.6%) illustrated a downward trend over the same period. New Zealand (+19 p.p.) significantly strengthened its position in terms of the total exports, while Australia saw its share reduced by -19.6% from 2012 to 2022, respectively.

In value terms, Australia ($X) remains the largest refrigerator or freezer supplier in Australia and Oceania, comprising 66% of total exports. The second position in the ranking was held by New Zealand ($X), with a 32% share of total exports.

In Australia, refrigerator or freezer exports plunged by an average annual rate of -18.4% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per unit, jumping by 19% against the previous year. Overall, the export price, however, showed a noticeable downturn. The level of export peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per unit), while Australia stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (-3.1%).

Refrigerator Or Freezer Imports

Imports in Australia and Oceania

In 2022, imports of furniture designed to receive refrigerating or freezing equipment in Australia and Oceania surged to X units, jumping by 29% compared with 2021 figures. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -15.1% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 101% against the previous year. The volume of import peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, refrigerator or freezer imports soared to $X in 2022. Over the period under review, imports posted a buoyant expansion. The growth pace was the most rapid in 2013 when imports increased by 169% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

New Zealand was the main importing country with an import of about X units, which reached 60% of total imports. It was distantly followed by Australia (X units) and French Polynesia (X units), together mixing up a 29% share of total imports. The following importers - Papua New Guinea (X units), New Caledonia (X units) and Micronesia (X units) - together made up 9.2% of total imports.

New Zealand was also the fastest-growing in terms of the furniture designed to receive refrigerating or freezing equipment imports, with a CAGR of +64.0% from 2012 to 2022. At the same time, Micronesia (+36.8%), Papua New Guinea (+16.8%) and French Polynesia (+3.5%) displayed positive paces of growth. By contrast, Australia (-2.0%) and New Caledonia (-2.2%) illustrated a downward trend over the same period. While the share of New Zealand (+59 p.p.), Papua New Guinea (+2.4 p.p.) and Micronesia (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of French Polynesia (-2.2 p.p.), New Caledonia (-5.2 p.p.) and Australia (-35 p.p.) displayed negative dynamics.

In value terms, New Zealand ($X) constitutes the largest market for imported furniture designed to receive refrigerating or freezing equipment in Australia and Oceania, comprising 62% of total imports. The second position in the ranking was taken by Australia ($X), with a 25% share of total imports. It was followed by French Polynesia, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in New Zealand totaled +70.2%. The remaining importing countries recorded the following average annual rates of imports growth: Australia (+4.6% per year) and French Polynesia (+7.0% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per unit in 2022, picking up by 9.5% against the previous year. Over the last decade, it increased at an average annual rate of +5.2%. The pace of growth was the most pronounced in 2013 when the import price increased by 34%. Over the period under review, import prices reached the maximum in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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