Denmark: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Denmark

The Danish refrigerator or freezer market surged to $X in 2022, growing by 55% against the previous year. Over the period under review, consumption, however, saw a noticeable contraction. Refrigerator or freezer consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Refrigerator Or Freezer Production in Denmark

In value terms, refrigerator or freezer production dropped significantly to $X in 2022 estimated in export price. In general, production showed a sharp curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 27% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Refrigerator Or Freezer Exports

Exports from Denmark

After two years of growth, overseas shipments of furniture designed to receive refrigerating or freezing equipment decreased by -59.6% to X units in 2022. Overall, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2013 with an increase of 645%. 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 declined remarkably to $X in 2022. In general, exports showed a drastic downturn. The pace of growth was the most pronounced in 2013 with an increase of 404% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Greenland (X units) was the main destination for refrigerator or freezer exports from Denmark, accounting for a 42% share of total exports. Moreover, refrigerator or freezer exports to Greenland exceeded the volume sent to the second major destination, Norway (X units), twofold. The third position in this ranking was taken by the United States (X units), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Greenland stood at +21.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+34.7% per year) and the United States (-5.0% per year).

In value terms, the largest markets for refrigerator or freezer exported from Denmark were Norway ($X), the United States ($X) and Greenland ($X), together comprising 65% of total exports.

Norway, with a CAGR of +33.5%, saw the highest growth rate of 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, reducing by -46.3% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 85%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2021, and then declined significantly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Greenland ($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 Egypt (+23.2%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Or Freezer Imports

Imports into Denmark

In 2022, purchases abroad of furniture designed to receive refrigerating or freezing equipment increased by 14% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a abrupt shrinkage. The growth pace was the most rapid in 2018 with an increase of 91% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, refrigerator or freezer imports skyrocketed to $X in 2022. In general, imports, however, saw a perceptible curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 76%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Turkey (X units), Italy (X units) and Portugal (X units) were the main suppliers of refrigerator or freezer imports to Denmark, with a combined 74% share of total imports. The Netherlands, China, Germany and Sweden lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +222.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refrigerator or freezer suppliers to Denmark were Turkey ($X), the Netherlands ($X) and Portugal ($X), together accounting for 74% of total imports. Italy, Germany, China and Sweden lagged somewhat behind, together comprising a further 15%.

In terms of the main suppliers, China, with a CAGR of +295.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average refrigerator or freezer import price stood at $X per unit in 2022, increasing by 27% against the previous year. In general, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refrigerator or freezer import price increased by +46.7% against 2019 indices. The pace of growth appeared the most rapid in 2017 an increase of 47%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+22.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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