Eastern Europe: Non-Combined Refrigerator-Freezer Market 2024

Non-Combined Refrigerator-Freezer Market Size in Eastern Europe

For the fourth year in a row, the East European non-combined refrigerator-freezer market recorded growth in sales value, which increased by 5% to $X in 2022. In general, consumption, however, showed a slight reduction. The most prominent rate of growth was recorded in 2021 with an increase of 8.9%. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Non-Combined Refrigerator-Freezer Production in Eastern Europe

In value terms, non-combined refrigerator-freezer production rose modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2020 when the production volume increased by 13% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Non-Combined Refrigerator-Freezer Exports

Exports in Eastern Europe

In 2022, after four years of growth, there was significant decline in overseas shipments of household refrigerators and freezers (not combined), when their volume decreased by -25.1% to X units. Overall, exports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2020 when exports increased by 14%. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, non-combined refrigerator-freezer exports fell notably to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 19% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then reduced notably in the following year.

Exports by Country

The biggest shipments were from Hungary (X units), Poland (X units), Bulgaria (X units) and Romania (X units), together finishing at 79% of total export. Russia (X units) held an 8.7% share (based on physical terms) of total exports, which put it in second place, followed by the Czech Republic (4.6%). Belarus (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Russia (with a CAGR of +4.0%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Hungary ($X) and Bulgaria ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 67% of total exports.

Among the main exporting countries, Bulgaria, with a CAGR of +4.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per unit in 2022, increasing by 9.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2018 when the export price increased by 12% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+2.6%), while the other leaders experienced more modest paces of growth.

Non-Combined Refrigerator-Freezer Imports

Imports in Eastern Europe

After four years of growth, overseas purchases of household refrigerators and freezers (not combined) decreased by -23.9% to X units in 2022. Total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 23%. The volume of import peaked at X units in 2021, and then contracted rapidly in the following year.

In value terms, non-combined refrigerator-freezer imports fell notably to $X in 2022. Total imports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 28%. As a result, imports attained the peak of $X, and then shrank notably in the following year.

Imports by Country

Russia was the largest importer of household refrigerators and freezers (not combined) in Eastern Europe, with the volume of imports reaching X units, which was approx. 44% of total imports in 2022. Poland (X units) took the second position in the ranking, followed by the Czech Republic (X units), Slovakia (X units), Hungary (X units) and Romania (X units). All these countries together took approx. 41% share of total imports. Ukraine (X units) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to non-combined refrigerator-freezer imports into Russia stood at +7.2%. At the same time, Slovakia (+7.6%), Hungary (+6.2%), the Czech Republic (+4.6%) and Poland (+2.2%) displayed positive paces of growth. Moreover, Slovakia emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +7.6% from 2012-2022. Romania experienced a relatively flat trend pattern. By contrast, Ukraine (-8.8%) illustrated a downward trend over the same period. While the share of Russia (+13 p.p.) and Slovakia (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Romania (-1.5 p.p.), Poland (-1.9 p.p.) and Ukraine (-11.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported household refrigerators and freezers (not combined) in Eastern Europe, comprising 36% of total imports. The second position in the ranking was taken by Poland ($X), with a 15% share of total imports. It was followed by the Czech Republic, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Russia stood at +2.5%. The remaining importing countries recorded the following average annual rates of imports growth: Poland (+2.2% per year) and the Czech Republic (+4.3% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per unit, approximately reflecting the previous year. Over the period under review, the import price recorded a mild setback. The pace of growth appeared the most rapid in 2021 an increase of 14% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Slovakia ($X per unit), while Russia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (-0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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