Benelux: Non-Combined Refrigerator-Freezer Market 2024

Non-Combined Refrigerator-Freezer Exports

Exports in Benelux

After four years of growth, shipments abroad of household refrigerators and freezers (not combined) decreased by -41.2% to X units in 2022. Over the period under review, exports, however, saw notable growth. The growth pace was the most rapid in 2020 when exports increased by 147%. Over the period under review, the exports attained the maximum at X units in 2021, and then dropped rapidly in the following year.

In value terms, non-combined refrigerator-freezer exports reduced sharply to $X in 2022. Overall, exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of 71% against the previous year. The level of export peaked at $X in 2021, and then declined significantly in the following year.

Exports by Country

The Netherlands prevails in exports structure, accounting for X units, which was approx. 90% of total exports in 2022. It was distantly followed by Belgium (X units), creating an 8.4% share of total exports. Luxembourg (X units) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to non-combined refrigerator-freezer exports from the Netherlands stood at +8.6%. At the same time, Luxembourg (+9.3%) displayed positive paces of growth. Moreover, Luxembourg emerged as the fastest-growing exporter exported in Benelux, with a CAGR of +9.3% from 2012-2022. By contrast, Belgium (-14.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands increased by +40 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest non-combined refrigerator-freezer supplier in Benelux, comprising 92% of total exports. The second position in the ranking was held by Belgium ($X), with a 5.4% share of total exports.

In the Netherlands, non-combined refrigerator-freezer exports expanded at an average annual rate of +9.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Belgium (-13.3% per year) and Luxembourg (+10.1% per year).

Export Prices by Country

The export price in Benelux stood at $X per unit in 2022, growing by 4.2% against the previous year. Export price indicated a noticeable expansion from 2012 to 2022: its price 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. Based on 2022 figures, non-combined refrigerator-freezer export price increased by +25.4% against 2020 indices. The pace of growth was the most pronounced in 2014 an increase of 41%. Over the period under review, the export prices attained the maximum at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat 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 Luxembourg ($X per unit), while Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+0.9%), while the other leaders experienced more modest paces of growth.

Non-Combined Refrigerator-Freezer Imports

Imports in Benelux

In 2022, overseas purchases of household refrigerators and freezers (not combined) decreased by -33.2% to X units for the first time since 2015, thus ending a six-year rising trend. Over the period under review, imports, however, continue to indicate a modest expansion. The pace of growth appeared the most rapid in 2020 with an increase of 58% against the previous year. Over the period under review, imports attained the peak figure at X units in 2021, and then dropped notably in the following year.

In value terms, non-combined refrigerator-freezer imports dropped markedly to $X in 2022. Overall, imports, however, enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 45% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then shrank markedly in the following year.

Imports by Country

In 2022, the Netherlands (X units) was the key importer of household refrigerators and freezers (not combined), comprising 62% of total imports. It was distantly followed by Belgium (X units), mixing up a 36% share of total imports. Luxembourg (X units) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Luxembourg (with a CAGR of +4.7%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest non-combined refrigerator-freezer importing markets in Benelux were the Netherlands ($X), Belgium ($X) and Luxembourg ($X).

Among the main importing countries, the Netherlands, with a CAGR of +5.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per unit, jumping by 22% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Luxembourg ($X per unit), while Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+2.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform