Kenya: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Kenya

The Kenyan refrigerator or freezer market stood at $X in 2022, leveling off at the previous year. Over the period under review, consumption showed a deep reduction. Refrigerator or freezer consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Refrigerator Or Freezer Production in Kenya

In value terms, refrigerator or freezer production dropped to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep setback. The most prominent rate of growth was recorded in 2017 when the production volume increased by 48% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Refrigerator Or Freezer Exports

Exports from Kenya

After two years of decline, overseas shipments of furniture designed to receive refrigerating or freezing equipment increased by 439% to X units in 2022. In general, exports, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 2,549% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, refrigerator or freezer exports surged to $X in 2022. Overall, exports recorded a strong increase. The growth pace was the most rapid in 2017 with an increase of 2,939%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Democratic Republic of the Congo (X units) was the main destination for refrigerator or freezer exports from Kenya, with a 55% share of total exports. Moreover, refrigerator or freezer exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, Tanzania (X units), twofold. The third position in this ranking was taken by Uganda (X units), with an 18% share.

From 2012 to 2022, the average annual growth rate of volume to Democratic Republic of the Congo amounted to +26.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (-9.1% per year) and Uganda (-5.0% per year).

In value terms, Tanzania ($X) remains the key foreign market for furniture designed to receive refrigerating or freezing equipment exports from Kenya, comprising 69% of total exports. The second position in the ranking was taken by Democratic Republic of the Congo ($X), with a 23% share of total exports. It was followed by Uganda, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Tanzania stood at +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (+49.6% per year) and Uganda (-1.7% per year).

Export Prices by Country

The average refrigerator or freezer export price stood at $X per unit in 2022, declining by -41% against the previous year. Over the period under review, the export price, however, showed a resilient increase. The most prominent rate of growth was recorded in 2021 an increase of 103% against the previous year. As a result, the export price reached the peak level of $X per unit, and then dropped dramatically in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Tanzania ($X per unit), while the average price for exports to Uganda ($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 Tanzania (+21.9%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Or Freezer Imports

Imports into Kenya

In 2022, the amount of furniture designed to receive refrigerating or freezing equipment imported into Kenya skyrocketed to X units, growing by 24% compared with the previous year. In general, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2020 when imports increased by 162% against the previous year. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, refrigerator or freezer imports surged to $X in 2022. Overall, imports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2019 when imports increased by 180%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X units), South Africa (X units) and the Netherlands (X units) were the main suppliers of refrigerator or freezer imports to Kenya, together accounting for 64% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +85.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), South Africa ($X) and Italy ($X) were the largest refrigerator or freezer suppliers to Kenya, together comprising 58% of total imports. The United Arab Emirates, China and the UK lagged somewhat behind, together accounting for a further 22%.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +67.2%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the average refrigerator or freezer import price amounted to $X per unit, rising by 17% against the previous year. In general, the import price, however, saw a slight downturn. The pace of growth appeared the most rapid in 2017 when the average import price increased by 113%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+10.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :