Israel: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Israel

After two years of decline, the Israeli refrigerator or freezer market increased by 76% to $X in 2022. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Refrigerator Or Freezer Production in Israel

In value terms, refrigerator or freezer production stood at $X in 2022 estimated in export price. In general, production saw a modest increase. The pace of growth was the most pronounced in 2019 with an increase of 100%. Refrigerator or freezer production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Refrigerator Or Freezer Exports

Exports from Israel

After six years of growth, overseas shipments of furniture designed to receive refrigerating or freezing equipment decreased by -34.1% to X units in 2022. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 1,780%. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, refrigerator or freezer exports fell significantly to $X in 2022. Overall, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2013 with an increase of 1,437% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Palestine (X units) was the main destination for refrigerator or freezer exports from Israel, with a 89% share of total exports. Moreover, refrigerator or freezer exports to Palestine exceeded the volume sent to the second major destination, Cyprus (X units), tenfold. The third position in this ranking was held by Singapore (X units), with a 1.9% share.

From 2012 to 2022, the average annual growth rate of volume to Palestine totaled +27.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+39.3% per year) and Singapore (+19.7% per year).

In value terms, Palestine ($X) remains the key foreign market for furniture designed to receive refrigerating or freezing equipment exports from Israel, comprising 88% of total exports. The second position in the ranking was held by Cyprus ($X), with a 10% share of total exports. It was followed by Singapore, with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Palestine stood at +26.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+37.9% per year) and Singapore (+17.3% per year).

Export Prices by Country

The average refrigerator or freezer export price stood at $X per unit in 2022, approximately mirroring the previous year. Overall, the export price saw a perceptible decrease. The pace of growth appeared the most rapid in 2016 when the average export price increased by 9.6% 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.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Cyprus ($X per unit) and Canada ($X per unit), while the average price for exports to Singapore ($X per unit) and Palestine ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+0.1%), while the prices for the other major destinations experienced a decline.

Refrigerator Or Freezer Imports

Imports into Israel

In 2022, overseas purchases of furniture designed to receive refrigerating or freezing equipment were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, imports showed a mild increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, refrigerator or freezer imports soared to $X in 2022. Over the period under review, imports continue to indicate a noticeable expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Italy (X units) constituted the largest refrigerator or freezer supplier to Israel, with a 89% share of total imports. Moreover, refrigerator or freezer imports from Italy exceeded the figures recorded by the second-largest supplier, Croatia (X units), more than tenfold. The third position in this ranking was taken by the United States (X units), with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy amounted to +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Croatia (+259.8% per year) and the United States (+3.9% per year).

In value terms, Italy ($X) constituted the largest supplier of furniture designed to receive refrigerating or freezing equipment to Israel, comprising 89% of total imports. The second position in the ranking was taken by Croatia ($X), with a 4.2% share of total imports. It was followed by the United States, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value from Italy amounted to +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Croatia (+282.8% per year) and the United States (+6.1% per year).

Import Prices by Country

In 2022, the average refrigerator or freezer import price amounted to $X per unit, picking up by 7.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2017 an increase of 16%. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Greece ($X per unit) and Croatia ($X per unit), while the price for Turkey ($X per unit) and Italy ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Croatia (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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