Japan: Combined Refrigerator-Freezer Market 2024

Combined Refrigerator-Freezer Market Size in Japan

The Japanese combined refrigerator-freezer market declined to $X in 2022, which is down by -7% against the previous year. Overall, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -11.0% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Combined Refrigerator-Freezer Production in Japan

In value terms, combined refrigerator-freezer production shrank to $X in 2022 estimated in export price. In general, the total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.2% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 60% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Combined Refrigerator-Freezer Exports

Exports from Japan

In 2022, shipments abroad of combined refrigerators-freezers increased by 13% to X units, rising for the fourth consecutive year after two years of decline. Overall, exports enjoyed a strong increase. The growth pace was the most rapid in 2019 when exports increased by 52%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, combined refrigerator-freezer exports soared to $X in 2022. In general, exports saw a strong increase. The pace of growth appeared the most rapid in 2020 when exports increased by 52%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

China (X units), Taiwan (Chinese) (X units) and Singapore (X units) were the main destinations of combined refrigerator-freezer exports from Japan, with a combined 86% share of total exports. Vietnam, Hong Kong SAR and Australia lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +62.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for combined refrigerator-freezer exported from Japan were China ($X), Taiwan (Chinese) ($X) and Singapore ($X), together comprising 86% of total exports. Vietnam, Hong Kong SAR and Australia lagged somewhat behind, together accounting for a further 11%.

In terms of the main countries of destination, Australia, with a CAGR of +65.1%, recorded the highest growth rate of 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 combined refrigerator-freezer export price stood at $X per unit in 2022, picking up by 6.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 11% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Australia ($X per unit) and Hong Kong SAR ($X per unit), while the average price for exports to Singapore ($X per unit) and Vietnam ($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 Australia (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.

Combined Refrigerator-Freezer Imports

Imports into Japan

In 2022, supplies from abroad of combined refrigerators-freezers decreased by -8.3% to X units, falling for the second year in a row after two years of growth. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 25% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, combined refrigerator-freezer imports rose to $X in 2022. Overall, total imports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.3% against 2016 indices. The growth pace was the most rapid in 2019 with an increase of 21% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X units), Thailand (X units) and Indonesia (X units) were the main suppliers of combined refrigerator-freezer imports to Japan, with a combined 99% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +147.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest combined refrigerator-freezer suppliers to Japan were China ($X), Thailand ($X) and Indonesia ($X), together accounting for 99% of total imports.

Indonesia, with a CAGR of +151.5%, recorded 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

The average combined refrigerator-freezer import price stood at $X per unit in 2022, increasing by 14% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+1.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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