Iran: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Iran

In 2022, the Iranian refrigerator or freezer market decreased by -15.8% to $X, falling for the second consecutive year after two years of growth. Overall, consumption saw a perceptible setback. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Refrigerator Or Freezer Production in Iran

In value terms, refrigerator or freezer production contracted to $X in 2022 estimated in export price. Overall, production recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 180%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Refrigerator Or Freezer Exports

Exports from Iran

In 2022, exports of furniture designed to receive refrigerating or freezing equipment from Iran surged to X units, with an increase of 47% on the previous year. Overall, exports, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 1,108%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, refrigerator or freezer exports expanded sharply to $X in 2022. Over the period under review, exports continue to indicate pronounced growth. The pace of growth was the most pronounced in 2019 when exports increased by 2,046% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units), Sudan (X units) and Azerbaijan (X units) were the main destinations of refrigerator or freezer exports from Iran, together comprising 100% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +143.7%), while the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X) remains the key foreign market for furniture designed to receive refrigerating or freezing equipment exports from Iran, comprising 93% of total exports. The second position in the ranking was held by Sudan ($X), with a 4.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates totaled +109.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sudan (-24.0% per year) and Azerbaijan (0.0% per year).

Export Prices by Country

In 2022, the average refrigerator or freezer export price amounted to $X per unit, waning by -22.3% against the previous year. Overall, the export price, however, posted a prominent increase. The pace of growth appeared the most rapid in 2020 when the average export price increased by 166% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the average export prices remained at a 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 the United Arab Emirates ($X per unit), while the average price for exports to Sudan ($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 Sudan (-12.1%).

Refrigerator Or Freezer Imports

Imports into Iran

In 2022, the amount of furniture designed to receive refrigerating or freezing equipment imported into Iran shrank to X units, declining by -6.8% on the previous year's figure. Over the period under review, imports recorded a sharp reduction. The pace of growth appeared the most rapid in 2014 with an increase of 2,525% against the previous year. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, refrigerator or freezer imports dropped to $X in 2022. In general, imports saw a sharp downturn. The pace of growth appeared the most rapid in 2014 with an increase of 3,127%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Italy (X units), the United Arab Emirates (X units) and Taiwan (Chinese) (X units) were the main suppliers of refrigerator or freezer imports to Iran, together accounting for 88% of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of -0.6%), while purchases for the other leaders experienced a decline.

In value terms, the largest refrigerator or freezer suppliers to Iran were Italy ($X), Taiwan (Chinese) ($X) and the United Arab Emirates ($X), together comprising 66% of total imports.

In terms of the main suppliers, Italy, with a CAGR of -2.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average refrigerator or freezer import price stood at $X per unit in 2022, dropping by -8.5% against the previous year. In general, the import price, however, saw perceptible growth. The pace of growth appeared the most rapid in 2018 an increase of 117% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 Taiwan (Chinese) ($X per unit), while the price for the United Arab Emirates ($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 (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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