EU: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in the EU

The EU refrigerator or freezer market contracted to $X in 2022, which is down by -5.3% against the previous year. In general, consumption, however, showed a abrupt curtailment. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Refrigerator Or Freezer Production in the EU

In value terms, refrigerator or freezer production shrank notably to $X in 2022 estimated in export price. Overall, production, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2019 when the production volume increased by 72%. The level of production peaked at $X in 2021, and then declined notably in the following year.

Refrigerator Or Freezer Exports

Exports in the EU

Refrigerator or freezer exports dropped modestly to X units in 2022, reducing by -3% compared with the previous year's figure. Total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +7.5% 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 +42.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 47%. As a result, the exports reached the peak of X units, and then dropped in the following year.

In value terms, refrigerator or freezer exports declined slightly to $X in 2022. Total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 +45.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 49%. As a result, the exports attained the peak of $X, and then contracted modestly in the following year.

Exports by Country

Portugal was the main exporter of furniture designed to receive refrigerating or freezing equipment in the European Union, with the volume of exports resulting at X units, which was approx. 44% of total exports in 2022. Germany (X units) held the second position in the ranking, distantly followed by Italy (X units), Spain (X units) and France (X units). All these countries together held near 49% share of total exports. The Netherlands (X units) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to refrigerator or freezer exports from Portugal stood at +13.2%. At the same time, Germany (+23.4%), France (+22.6%), Spain (+15.6%) and the Netherlands (+2.9%) displayed positive paces of growth. Moreover, Germany emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +23.4% from 2012-2022. Italy experienced a relatively flat trend pattern. From 2012 to 2022, the share of Portugal, Germany, Spain and France increased by +18, +16, +5.6 and +4.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X), Portugal ($X) and Italy ($X) constituted the countries with the highest levels of exports in 2022, with a combined 66% share of total exports.

Germany, with a CAGR of +21.3%, saw the highest growth rate of the value of exports, in terms of the main exporting countries 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 the European Union stood at $X per unit in 2022, almost unchanged from the previous year. Overall, the export price, however, saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2020 an increase of 11% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while Portugal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.7%), while the other leaders experienced mixed trends in the export price figures.

Refrigerator Or Freezer Imports

Imports in the EU

Refrigerator or freezer imports totaled X units in 2022, approximately mirroring the previous year's figure. In general, imports enjoyed strong growth. The growth pace was the most rapid in 2021 when imports increased by 37%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, refrigerator or freezer imports fell slightly to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +75.6% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 37% against the previous year. As a result, imports reached the peak of $X, and then contracted slightly in the following year.

Imports by Country

In 2022, Portugal (X units) represented the major importer of furniture designed to receive refrigerating or freezing equipment, committing 38% of total imports. Spain (X units) held the second position in the ranking, followed by Italy (X units) and France (X units). All these countries together held near 41% share of total imports. Germany (X units), Finland (X units), Austria (X units), Belgium (X units) and the Netherlands (X units) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to refrigerator or freezer imports into Portugal stood at +14.6%. At the same time, Finland (+61.7%), Italy (+17.4%), Spain (+11.1%), Belgium (+10.8%), Germany (+7.5%) and Austria (+7.0%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing importer imported in the European Union, with a CAGR of +61.7% from 2012-2022. France experienced a relatively flat trend pattern. By contrast, the Netherlands (-2.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Portugal, Italy, Spain and Finland increased by +17, +8.6, +4.4 and +3.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X) constitutes the largest market for imported furniture designed to receive refrigerating or freezing equipment in the European Union, comprising 27% of total imports. The second position in the ranking was taken by France ($X), with a 12% share of total imports. It was followed by Spain, with an 11% share.

In Italy, refrigerator or freezer imports increased at an average annual rate of +24.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: France (+1.3% per year) and Spain (+5.4% per year).

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per unit, falling by -4.7% against the previous year. Over the period under review, the import price saw a noticeable setback. The growth pace was the most rapid in 2020 when the import price increased by 6.7%. Over the period under review, import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Belgium ($X per unit), while Portugal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+6.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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