Belgium: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Belgium

After two years of growth, the Belgian refrigerator or freezer market decreased by -0.8% to $X in 2022. Overall, consumption showed a pronounced curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Refrigerator Or Freezer Production in Belgium

In value terms, refrigerator or freezer production reduced remarkably to $X in 2022 estimated in export price. In general, production recorded a sharp reduction. The most prominent rate of growth was recorded in 2013 with an increase of 109%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Refrigerator Or Freezer Exports

Exports from Belgium

After three years of growth, shipments abroad of furniture designed to receive refrigerating or freezing equipment decreased by -50.2% to X units in 2022. Overall, exports saw a perceptible slump. The most prominent rate of growth was recorded in 2013 with an increase of 821% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, refrigerator or freezer exports shrank markedly to $X in 2022. Over the period under review, exports recorded a abrupt descent. The pace of growth appeared the most rapid in 2013 when exports increased by 835%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

France (X units), the Netherlands (X units) and Germany (X units) were the main destinations of refrigerator or freezer exports from Belgium, with a combined 83% share of total exports. Austria, Egypt, Luxembourg and Poland lagged somewhat behind, together accounting for a further 10%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +24.7%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), the Netherlands ($X) and Germany ($X) were the largest markets for refrigerator or freezer exported from Belgium worldwide, with a combined 81% share of total exports. Austria, Luxembourg, Egypt and Poland lagged somewhat behind, together comprising a further 7.4%.

Austria, with a CAGR of +20.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average refrigerator or freezer export price stood at $X per unit in 2022, growing by 32% against the previous year. In general, the export price, however, recorded a pronounced contraction. The pace of growth was the most pronounced in 2015 when the average export price increased by 104%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per unit), while the average price for exports to Egypt ($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 Poland (+5.4%), while the prices for the other major destinations experienced mixed trend patterns.

Refrigerator Or Freezer Imports

Imports into Belgium

After two years of growth, supplies from abroad of furniture designed to receive refrigerating or freezing equipment decreased by -20.2% to X units in 2022. Over the period under review, imports, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2016 when imports increased by 85% against the previous year. Over the period under review, imports attained the maximum at X units in 2021, and then reduced notably in the following year.

In value terms, refrigerator or freezer imports reached $X in 2022. In general, imports, however, saw a strong increase. The pace of growth was the most pronounced in 2016 with an increase of 116%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Italy (X units) constituted the largest supplier of refrigerator or freezer to Belgium, accounting for a 63% share of total imports. Moreover, refrigerator or freezer imports from Italy exceeded the figures recorded by the second-largest supplier, Portugal (X units), fourfold. France (X units) ranked third in terms of total imports with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy stood at +27.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+36.2% per year) and France (+17.8% per year).

In value terms, Italy ($X) constituted the largest supplier of furniture designed to receive refrigerating or freezing equipment to Belgium, comprising 61% of total imports. The second position in the ranking was taken by France ($X), with a 15% share of total imports. It was followed by Portugal, with an 8.9% share.

From 2012 to 2022, the average annual growth rate of value from Italy totaled +28.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+18.8% per year) and Portugal (+37.7% per year).

Import Prices by Country

In 2022, the average refrigerator or freezer import price amounted to $X per unit, increasing by 26% against the previous year. Overall, the import price, however, saw a perceptible slump. The import price peaked at $X per unit in 2012; however, from 2013 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 Luxembourg ($X per unit), while the price for Portugal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Luxembourg (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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