Indonesia: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Indonesia

After two years of decline, the Indonesian refrigerator or freezer market increased by 267% to $X in 2022. Over the period under review, consumption posted a slight increase. Refrigerator or freezer consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Refrigerator Or Freezer Exports

Exports from Indonesia

In 2022, the amount of furniture designed to receive refrigerating or freezing equipment exported from Indonesia reduced to X units, waning by -13.6% on 2021 figures. Over the period under review, exports recorded a dramatic curtailment. The pace of growth was the most pronounced in 2014 when exports increased by 706% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, refrigerator or freezer exports contracted markedly to $X in 2022. In general, exports recorded a dramatic contraction. The pace of growth was the most pronounced in 2014 when exports increased by 492%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X units) was the main destination for refrigerator or freezer exports from Indonesia, with a 72% share of total exports. Moreover, refrigerator or freezer exports to Singapore exceeded the volume sent to the second major destination, South Korea (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore amounted to -21.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-41.4% per year) and the Philippines (-53.6% per year).

In value terms, Singapore ($X), South Korea ($X) and the Philippines ($X) appeared to be the largest markets for refrigerator or freezer exported from Indonesia worldwide, with a combined 98% share of total exports.

In terms of the main countries of destination, Singapore, with a CAGR of -33.0%, 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 a decline.

Export Prices by Country

The average refrigerator or freezer export price stood at $X per unit in 2022, reducing by -23.7% against the previous year. Overall, the export price showed a abrupt decrease. The most prominent rate of growth was recorded in 2018 when the average export price increased by 72% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per unit), while the average price for exports to Singapore ($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 the Philippines (+14.0%), while the prices for the other major destinations experienced mixed trend patterns.

Refrigerator Or Freezer Imports

Imports into Indonesia

In 2022, purchases abroad of furniture designed to receive refrigerating or freezing equipment was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, imports showed slight growth. Over the period under review, imports attained the peak figure at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, refrigerator or freezer imports skyrocketed to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Taiwan (Chinese) (X units), China (X units) and Germany (X units) were the main suppliers of refrigerator or freezer imports to Indonesia, with a combined 82% share of total imports. Malaysia, Thailand, Australia and the United States lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +21.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refrigerator or freezer suppliers to Indonesia were Malaysia ($X), China ($X) and Thailand ($X), together comprising 73% of total imports.

Among the main suppliers, Malaysia, with a CAGR of +38.1%, recorded 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, reducing by -2.6% against the previous year. Overall, the import price saw a perceptible setback. The pace of growth appeared the most rapid in 2021 an increase of 45% against the previous year. Over the period under review, average import prices hit record highs 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 Australia ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+22.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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