Eastern Europe: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Eastern Europe

The East European refrigerator or freezer market reached $X in 2022, rising by 8.4% against the previous year. Over the period under review, consumption, however, continues to indicate a abrupt downturn. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Refrigerator Or Freezer Production in Eastern Europe

In value terms, refrigerator or freezer production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a significant expansion. The growth pace was the most rapid in 2019 with an increase of 563% against the previous year. Over the period under review, production reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Refrigerator Or Freezer Exports

Exports in Eastern Europe

In 2022, after two years of growth, there was significant decline in shipments abroad of furniture designed to receive refrigerating or freezing equipment, when their volume decreased by -26.6% to X units. Over the period under review, exports saw a noticeable setback. The pace of growth was the most pronounced in 2018 when exports increased by 51%. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, refrigerator or freezer exports fell markedly to $X in 2022. Overall, exports showed a perceptible decline. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Russia dominates exports structure, accounting for X units, which was approx. 89% of total exports in 2022. The Czech Republic (X units), Poland (X units) and Bulgaria (X units) held a little share of total exports.

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. Bulgaria (-5.6%), the Czech Republic (-18.1%) and Poland (-18.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Russia increased by +45 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest refrigerator or freezer supplier in Eastern Europe, comprising 59% of total exports. The second position in the ranking was taken by Poland ($X), with a 19% share of total exports. It was followed by the Czech Republic, with a 16% share.

In Russia, refrigerator or freezer exports expanded at an average annual rate of +3.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Poland (-8.2% per year) and the Czech Republic (-8.8% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per unit, increasing by 7.4% against the previous year. Overall, the export price, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2019 an increase of 35% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Poland ($X per unit), while Bulgaria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+12.6%), while the other leaders experienced mixed trends in the export price figures.

Refrigerator Or Freezer Imports

Imports in Eastern Europe

For the third year in a row, Eastern Europe recorded decline in overseas purchases of furniture designed to receive refrigerating or freezing equipment, which decreased by -6.1% to X units in 2022. Overall, imports faced a abrupt descent. The pace of growth was the most pronounced in 2019 when imports increased by 21% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, refrigerator or freezer imports declined to $X in 2022. In general, imports saw a deep downturn. The most prominent rate of growth was recorded in 2019 with an increase of 38%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Belarus (X units), distantly followed by Russia (X units), the Czech Republic (X units) and Romania (X units) represented the largest importers of furniture designed to receive refrigerating or freezing equipment, together achieving 72% of total imports. The following importers - Bulgaria (X units), Ukraine (X units), Hungary (X units), Latvia (X units), Slovakia (X units), Lithuania (X units) and Estonia (X units) - together made up 26% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +7.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refrigerator or freezer importing markets in Eastern Europe were the Czech Republic ($X), Russia ($X) and Belarus ($X), with a combined 54% share of total imports.

The Czech Republic, with a CAGR of +10.3%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Eastern Europe stood at $X per unit in 2022, approximately equating the previous year. Import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.2% 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 +20.6% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the import price increased by 94%. Over the period under review, import prices attained the peak figure in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+12.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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