Bahrain: Non-Combined Refrigerator-Freezer Market 2024

Non-Combined Refrigerator-Freezer Market Size in Bahrain

The Bahraini non-combined refrigerator-freezer market declined to $X in 2022, shrinking by -9.6% against the previous year. In general, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +21.7% against 2018 indices. Non-combined refrigerator-freezer consumption peaked at $X in 2021, and then contracted in the following year.

Non-Combined Refrigerator-Freezer Production in Bahrain

In value terms, non-combined refrigerator-freezer production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt descent. The most prominent rate of growth was recorded in 2015 with an increase of 182%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Non-Combined Refrigerator-Freezer Exports

Exports from Bahrain

In 2022, shipments abroad of household refrigerators and freezers (not combined) decreased by -35.9% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports faced a deep setback. The growth pace was the most rapid in 2015 with an increase of 154%. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-combined refrigerator-freezer exports reduced notably to $X in 2022. In general, exports faced a deep reduction. The growth pace was the most rapid in 2015 with an increase of 101% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X units) was the main destination for non-combined refrigerator-freezer exports from Bahrain, with a 85% share of total exports. Moreover, non-combined refrigerator-freezer exports to Saudi Arabia exceeded the volume sent to the second major destination, Kuwait (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Saudi Arabia totaled -16.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+12.1% per year) and Oman (-13.1% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for household refrigerators and freezers (not combined) exports from Bahrain, comprising 82% of total exports. The second position in the ranking was taken by Kuwait ($X), with an 8.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Saudi Arabia stood at -14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+16.9% per year) and Oman (-12.2% per year).

Export Prices by Country

The average non-combined refrigerator-freezer export price stood at $X per unit in 2022, jumping by 17% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2016 an increase of 42% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Kuwait ($X per unit), while the average price for exports to Oman ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Combined Refrigerator-Freezer Imports

Imports into Bahrain

In 2022, overseas purchases of household refrigerators and freezers (not combined) decreased by -37.8% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 45%. As a result, imports reached the peak of X units, and then shrank significantly in the following year.

In value terms, non-combined refrigerator-freezer imports shrank notably to $X in 2022. Overall, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 23% against the previous year. Imports peaked at $X in 2021, and then shrank sharply in the following year.

Imports by Country

Thailand (X units), China (X units) and India (X units) were the main suppliers of non-combined refrigerator-freezer imports to Bahrain, together comprising 86% of total imports. Indonesia, Turkey, Italy, South Korea and the United Arab Emirates lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +84.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), China ($X) and India ($X) appeared to be the largest non-combined refrigerator-freezer suppliers to Bahrain, together comprising 76% of total imports. Indonesia, Turkey, South Korea, Italy and the United Arab Emirates lagged somewhat behind, together accounting for a further 19%.

Indonesia, with a CAGR of +100.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average non-combined refrigerator-freezer import price amounted to $X per unit, growing by 24% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+12.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform