Central Asia: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Central Asia

The Central Asian refrigerator or freezer market totaled $X in 2022, surging by 5.3% against the previous year. In general, consumption, however, posted a strong increase. Over the period under review, the market hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Refrigerator Or Freezer Production in Central Asia

In value terms, refrigerator or freezer production totaled $X in 2022 estimated in export price. In general, production continues to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 when the production volume increased by 154% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Refrigerator Or Freezer Exports

Exports in Central Asia

In 2022, shipments abroad of furniture designed to receive refrigerating or freezing equipment decreased by -12.4% to X units for the first time since 2019, thus ending a two-year declining trend. In general, exports continue to indicate a dramatic decline. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, refrigerator or freezer exports surged to $X in 2022. Over the period under review, exports faced a dramatic curtailment. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Kazakhstan (X units) was the key exporter of furniture designed to receive refrigerating or freezing equipment in Central Asia, achieving 100% of total export.

Kazakhstan was also the fastest-growing in terms of the furniture designed to receive refrigerating or freezing equipment exports, with a CAGR of -20.6% from 2014 to 2022. Kazakhstan (+89 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) also remains the largest refrigerator or freezer supplier in Central Asia.

From 2014 to 2022, the average annual growth rate of value in Kazakhstan amounted to -22.6%.

Export Prices by Country

The export price in Central Asia stood at $X per unit in 2022, jumping by 70% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 70% against the previous year. The level of export peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Kazakhstan.

From 2014 to 2022, the rate of growth in terms of prices for Kazakhstan amounted to -2.5% per year.

Refrigerator Or Freezer Imports

Imports in Central Asia

In 2022, supplies from abroad of furniture designed to receive refrigerating or freezing equipment decreased by -2.2% to X units, falling for the second year in a row after two years of growth. Overall, imports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2017 with an increase of 256%. Over the period under review, imports attained the maximum at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, refrigerator or freezer imports rose sharply to $X in 2022. In general, imports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of 121% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

Kazakhstan represented the main importer of furniture designed to receive refrigerating or freezing equipment in Central Asia, with the volume of imports recording X units, which was approx. 58% of total imports in 2022. Uzbekistan (X units) ranks second in terms of the total imports with a 25% share, followed by Kyrgyzstan (10%). Turkmenistan (X units) and Tajikistan (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to refrigerator or freezer imports into Kazakhstan stood at +5.0%. At the same time, Kyrgyzstan (+43.0%), Turkmenistan (+23.8%) and Tajikistan (+10.9%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +43.0% from 2012-2022. By contrast, Uzbekistan (-26.6%) illustrated a downward trend over the same period. While the share of Uzbekistan (+25 p.p.), Kyrgyzstan (+9.6 p.p.) and Turkmenistan (+2.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Kazakhstan (-36.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) constitutes the largest market for imported furniture designed to receive refrigerating or freezing equipment in Central Asia, comprising 63% of total imports. The second position in the ranking was taken by Uzbekistan ($X), with a 14% share of total imports. It was followed by Kyrgyzstan, with a 13% share.

In Kazakhstan, refrigerator or freezer imports increased at an average annual rate of +6.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Uzbekistan (-17.4% per year) and Kyrgyzstan (+45.2% per year).

Import Prices by Country

In 2022, the import price in Central Asia amounted to $X per unit, with an increase of 14% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by 205% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkmenistan ($X per unit), while Uzbekistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+12.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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