Hong Kong SAR, China: Refrigerator And Freezer Market 2025

Refrigerator And Freezer Market Size in Hong Kong SAR, China

For the third consecutive year, the Hong Kong refrigerator and freezer market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Refrigerator And Freezer Exports

Exports from Hong Kong SAR, China

In 2022, exports of refrigerators and freezers from Hong Kong SAR contracted remarkably to X units, declining by X% on 2021. Over the period under review, exports saw a deep setback. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, refrigerator and freezer exports shrank notably to $X in 2022. In general, exports showed a pronounced shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Macao SAR (X units) was the main destination for refrigerator and freezer exports from Hong Kong SAR, with a X% share of total exports. Moreover, refrigerator and freezer exports to Macao SAR exceeded the volume sent to the second major destination, the United States (X units), sixfold. China (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Macao SAR totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and China (X% per year).

In value terms, Macao SAR ($X) remains the key foreign market for refrigerators and freezers exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Macao SAR totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Vietnam (X% per year).

Export Prices by Country

The average refrigerator and freezer export price stood at $X per unit in 2022, growing by X% against the previous year. Overall, the export price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

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 Vietnam ($X per unit), while the average price for exports to the United States ($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 Myanmar (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator And Freezer Imports

Imports into Hong Kong SAR, China

In 2022, refrigerator and freezer imports into Hong Kong SAR shrank to X units, with a decrease of X% on the previous year. Overall, imports recorded a mild slump. The most prominent rate of growth was recorded in 2018 when imports increased by X%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, refrigerator and freezer imports reached $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Thailand (X units) and Vietnam (X units) were the main suppliers of refrigerator and freezer imports to Hong Kong SAR, together accounting for X% of total imports. Germany, Indonesia, Japan and Poland lagged somewhat behind, together comprising a further X%.

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

In value terms, China ($X), Thailand ($X) and Germany ($X) constituted the largest refrigerator and freezer suppliers to Hong Kong SAR, with a combined X% share of total imports. Japan, Vietnam, Indonesia and Poland lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average refrigerator and freezer import price amounted to $X per unit, jumping by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2019 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in the near future.

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 Japan ($X per unit), while the price for Indonesia ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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