Latin America and the Caribbean: Non-Combined Refrigerator-Freezer Market 2025

Non-Combined Refrigerator-Freezer Market Size in Latin America and the Caribbean

In 2022, the Latin American non-combined refrigerator-freezer market increased by 3.1% to $X, rising for the third year in a row after six years of decline. In general, consumption, however, recorded a noticeable curtailment. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Non-Combined Refrigerator-Freezer Production in Latin America and the Caribbean

In value terms, non-combined refrigerator-freezer production rose modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2020 when the production volume increased by 9.4%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Non-Combined Refrigerator-Freezer Exports

Exports in Latin America and the Caribbean

In 2022, approx. X units of household refrigerators and freezers (not combined) were exported in Latin America and the Caribbean; declining by -7.4% on 2021 figures. In general, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of 26%. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, non-combined refrigerator-freezer exports fell to $X in 2022. Over the period under review, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 15% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Mexico (X units) was the major exporter of household refrigerators and freezers (not combined), achieving 37% of total exports. Brazil (X units) ranks second in terms of the total exports with an 18% share, followed by Panama (14%), Colombia (11%), Chile (9.1%) and Guatemala (6.4%). Costa Rica (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to non-combined refrigerator-freezer exports from Mexico stood at -13.9%. At the same time, Chile (+20.1%) and Guatemala (+13.7%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +20.1% from 2012-2022. Colombia experienced a relatively flat trend pattern. By contrast, Brazil (-4.2%), Panama (-7.7%) and Costa Rica (-18.8%) illustrated a downward trend over the same period. While the share of Chile (+8.6 p.p.), Brazil (+7.6 p.p.), Colombia (+7 p.p.), Guatemala (+5.8 p.p.) and Panama (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Costa Rica (-6.5 p.p.) and Mexico (-23.5 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) remains the largest non-combined refrigerator-freezer supplier in Latin America and the Caribbean, comprising 47% of total exports. The second position in the ranking was taken by Brazil ($X), with a 13% share of total exports. It was followed by Panama, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico totaled -14.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (-4.9% per year) and Panama (-6.2% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, growing by 4.5% against the previous year. Over the period under review, the export price, however, recorded a slight reduction. The most prominent rate of growth was recorded in 2018 an increase of 18%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while Colombia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+4.3%), while the other leaders experienced more modest paces of growth.

Non-Combined Refrigerator-Freezer Imports

Imports in Latin America and the Caribbean

After three years of growth, purchases abroad of household refrigerators and freezers (not combined) decreased by -5.2% to X units in 2022. Total imports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +2.8% 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 +63.2% against 2016 indices. The growth pace was the most rapid in 2021 when imports increased by 43%. As a result, imports reached the peak of X units, and then dropped in the following year.

In value terms, non-combined refrigerator-freezer imports contracted to $X in 2022. The total import value increased at an average annual rate of +1.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 44%. As a result, imports attained the peak of $X, and then shrank slightly in the following year.

Imports by Country

In 2022, Mexico (X units), distantly followed by Chile (X units), Brazil (X units) and Peru (X units) represented the key importers of household refrigerators and freezers (not combined), together achieving 56% of total imports. The following importers - Guatemala (X units), the Dominican Republic (X units), Venezuela (X units), Cuba (X units), Colombia (X units), Nicaragua (X units), Paraguay (X units), Jamaica (X units) and Bolivia (X units) - together made up 28% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Brazil (with a CAGR of +14.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-combined refrigerator-freezer importing markets in Latin America and the Caribbean were Mexico ($X), Chile ($X) and the Dominican Republic ($X), together comprising 43% of total imports.

Mexico, with a CAGR of +12.5%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, increasing by 3.3% against the previous year. In general, the import price, however, recorded a slight descent. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Dominican Republic ($X per unit), while Brazil ($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 Dominican Republic (+6.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :