Greece: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Greece

In 2022, the Greek refrigerator or freezer market decreased by -81.4% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption saw a abrupt setback. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Refrigerator Or Freezer Production in Greece

In value terms, refrigerator or freezer production surged to $X in 2022 estimated in export price. In general, production saw a resilient increase. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Refrigerator Or Freezer Exports

Exports from Greece

In 2022, the amount of furniture designed to receive refrigerating or freezing equipment exported from Greece skyrocketed to X units, jumping by 426% compared with the previous year. Over the period under review, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2018 when exports increased by 1,933% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, refrigerator or freezer exports skyrocketed to $X in 2022. In general, exports saw a strong increase. The most prominent rate of growth was recorded in 2018 when exports increased by 590% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Algeria (X units) was the main destination for refrigerator or freezer exports from Greece, accounting for a 63% share of total exports. Moreover, refrigerator or freezer exports to Algeria exceeded the volume sent to the second major destination, Cyprus (X units), fivefold. The third position in this ranking was taken by Romania (X units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Algeria totaled -6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+18.4% per year) and Romania (+2,794.3% per year).

In value terms, the largest markets for refrigerator or freezer exported from Greece were Cyprus ($X), Algeria ($X) and Bulgaria ($X), together accounting for 66% of total exports. Romania, Sweden, Germany and France lagged somewhat behind, together accounting for a further 31%.

Among the main countries of destination, Romania, with a CAGR of +2,493.8%, saw 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

The average refrigerator or freezer export price stood at $X per unit in 2022, shrinking by -54.5% against the previous year. Over the period under review, the export price continues to indicate a noticeable descent. The pace of growth was the most pronounced in 2016 an increase of 188% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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 Bulgaria ($X per unit), while the average price for exports to Algeria ($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 (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Or Freezer Imports

Imports into Greece

In 2022, supplies from abroad of furniture designed to receive refrigerating or freezing equipment increased by 13% to X units, rising for the sixth consecutive year after two years of decline. Over the period under review, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 52% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, refrigerator or freezer imports surged to $X in 2022. Overall, imports showed a strong increase. The most prominent rate of growth was recorded in 2013 when imports increased by 82%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Italy (X units) constituted the largest refrigerator or freezer supplier to Greece, with a 62% share of total imports. Moreover, refrigerator or freezer imports from Italy exceeded the figures recorded by the second-largest supplier, Turkey (X units), threefold. The third position in this ranking was taken by Bulgaria (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Italy amounted to +12.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+2.9% per year) and Bulgaria (+135.2% per year).

In value terms, Italy ($X) constituted the largest supplier of furniture designed to receive refrigerating or freezing equipment to Greece, comprising 73% of total imports. The second position in the ranking was held by Turkey ($X), with a 15% share of total imports. It was followed by Bulgaria, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value from Italy totaled +13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+0.0% per year) and Bulgaria (+101.3% per year).

Import Prices by Country

In 2022, the average refrigerator or freezer import price amounted to $X per unit, picking up by 9.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 34%. The import price peaked 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 Italy ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+5.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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