Germany: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Germany

In 2022, after two years of growth, there was significant decline in the German refrigerator or freezer market, when its value decreased by -16.3% to $X. Overall, consumption continues to indicate a abrupt curtailment. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Refrigerator Or Freezer Production in Germany

In value terms, refrigerator or freezer production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, saw a slight expansion. The pace of growth was the most pronounced in 2018 with an increase of 137%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Refrigerator Or Freezer Exports

Exports from Germany

Refrigerator or freezer exports from Germany reduced to X units in 2022, dropping by -13.6% compared with 2021 figures. In general, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 232%. Over the period under review, the exports reached the maximum at X units in 2021, and then declined in the following year.

In value terms, refrigerator or freezer exports shrank to $X in 2022. Overall, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2018 with an increase of 243% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then dropped in the following year.

Exports by Country

The UK (X units) was the main destination for refrigerator or freezer exports from Germany, with a 32% share of total exports. Moreover, refrigerator or freezer exports to the UK exceeded the volume sent to the second major destination, France (X units), threefold. The Netherlands (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK amounted to +64.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+33.5% per year) and the Netherlands (+66.4% per year).

In value terms, the UK ($X), France ($X) and the Netherlands ($X) were the largest markets for refrigerator or freezer exported from Germany worldwide, with a combined 54% share of total exports. Switzerland, Austria, Poland, Finland, the Czech Republic, Denmark, Spain, Portugal, Italy and Bulgaria lagged somewhat behind, together comprising a further 35%.

In terms of the main countries of destination, Portugal, with a CAGR of +82.4%, recorded the highest rates of growth with regard to 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

In 2022, the average refrigerator or freezer export price amounted to $X per unit, rising by 4% against the previous year. Over the period under review, the export price, however, recorded a mild descent. The pace of growth appeared the most rapid in 2020 an increase of 17% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Bulgaria ($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 Bulgaria (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Or Freezer Imports

Imports into Germany

In 2022, the amount of furniture designed to receive refrigerating or freezing equipment imported into Germany fell remarkably to X units, with a decrease of -20.9% against 2021. Overall, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 72%. Imports peaked at X units in 2021, and then contracted notably in the following year.

In value terms, refrigerator or freezer imports shrank remarkably to $X in 2022. Over the period under review, imports, however, recorded a notable increase. The pace of growth was the most pronounced in 2015 with an increase of 69%. Imports peaked at $X in 2021, and then declined remarkably in the following year.

Imports by Country

Turkey (X units), Portugal (X units) and China (X units) were the main suppliers of refrigerator or freezer imports to Germany, together comprising 58% of total imports. Italy, Spain, Croatia, Russia, Bulgaria, the UK and the United States lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +153.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refrigerator or freezer suppliers to Germany were Turkey ($X), Italy ($X) and China ($X), with a combined 56% share of total imports. Portugal, Spain, Croatia, Russia, Bulgaria, the United States and the UK lagged somewhat behind, together accounting for a further 26%.

Among the main suppliers, Russia, with a CAGR of +129.0%, saw the highest growth rate of 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, which is down by -7.5% against the previous year. Over the period under review, the import price continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2021 when the average import price increased by 18%. Over the period under review, average import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Russia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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