CIS: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in CIS

The CIS refrigerator or freezer market soared to $X in 2022, picking up by 36% against the previous year. Over the period under review, consumption, however, recorded a pronounced slump. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Refrigerator Or Freezer Production in CIS

In value terms, refrigerator or freezer production reduced to $X in 2022 estimated in export price. The total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +12.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.1% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 112% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Refrigerator Or Freezer Exports

Exports in CIS

In 2022, refrigerator or freezer exports in the CIS declined significantly to X units, waning by -21.1% against 2021 figures. Total exports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when exports increased by 58%. The volume of export peaked at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, refrigerator or freezer exports contracted to $X in 2022. Total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +88.5% against 2016 indices. The pace of growth was the most pronounced in 2021 when exports increased by 39%. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

The shipments of the one major exporters of furniture designed to receive refrigerating or freezing equipment, namely Russia, represented more than two-thirds of total export.

Russia was also the fastest-growing in terms of the furniture designed to receive refrigerating or freezing equipment exports, with a CAGR of +4.8% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) also remains the largest refrigerator or freezer supplier in the CIS.

From 2012 to 2022, the average annual growth rate of value in Russia totaled +3.8%.

Export Prices by Country

The export price in the CIS stood at $X per unit in 2022, rising by 9.2% against the previous year. Over the period under review, the export price, however, saw a slight shrinkage. The pace of growth was the most pronounced in 2019 when the export price increased by 30% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to -1.0% per year.

Refrigerator Or Freezer Imports

Imports in CIS

In 2022, refrigerator or freezer imports in the CIS stood at X units, growing by 13% compared with 2021. Over the period under review, imports, however, continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2017 when imports increased by 59%. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, refrigerator or freezer imports expanded notably to $X in 2022. In general, imports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 73% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of refrigerator or freezer imports in 2022 were Belarus (X units), Kazakhstan (X units) and Russia (X units), together resulting at 81% of total import. It was distantly followed by Uzbekistan (X units), constituting an 11% share of total imports. Kyrgyzstan (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Kyrgyzstan (with a CAGR of +43.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refrigerator or freezer importing markets in the CIS were Kazakhstan ($X), Russia ($X) and Belarus ($X), with a combined 83% share of total imports. Uzbekistan and Kyrgyzstan lagged somewhat behind, together comprising a further 13%.

Among the main importing countries, Kyrgyzstan, with a CAGR of +45.2%, recorded the highest rates of growth with regard to 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

The import price in the CIS stood at $X per unit in 2022, almost unchanged from the previous year. In general, the import price, however, posted a resilient increase. The most prominent rate of growth was recorded in 2021 when the import price increased by 74% against the previous year. As a result, import price reached the peak level of $X per unit, leveling off in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kyrgyzstan ($X per unit), while Belarus ($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

Frequently Asked Questions (FAQ) :