Lithuania: Combined Refrigerator-Freezer Market 2024

Combined Refrigerator-Freezer Market Size in Lithuania

The Lithuanian combined refrigerator-freezer market skyrocketed to $X in 2022, growing by 27% against the previous year. Over the period under review, consumption posted strong growth. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the immediate term.

Combined Refrigerator-Freezer Production in Lithuania

In value terms, combined refrigerator-freezer production contracted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2013 when the production volume increased by 23%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Combined Refrigerator-Freezer Exports

Exports from Lithuania

In 2022, exports of combined refrigerators-freezers from Lithuania shrank sharply to X units, waning by -31.4% on the previous year's figure. Overall, exports recorded a deep setback. The growth pace was the most rapid in 2013 with an increase of 16% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, combined refrigerator-freezer exports dropped significantly to $X in 2022. Over the period under review, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2013 with an increase of 19% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Latvia (X units), Germany (X units) and Estonia (X units) were the main destinations of combined refrigerator-freezer exports from Lithuania, with a combined 58% share of total exports. Ukraine, Russia, Sweden, the Czech Republic, Morocco, Finland, Austria, Uzbekistan, France and Moldova lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sweden (with a CAGR of +93.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for combined refrigerator-freezer exported from Lithuania were Latvia ($X), Germany ($X) and Estonia ($X), together comprising 55% of total exports. Russia, Ukraine, Sweden, the Czech Republic, Finland, Morocco, Uzbekistan, Austria, France and Moldova lagged somewhat behind, together accounting for a further 29%.

In terms of the main countries of destination, Sweden, with a CAGR of +91.9%, 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

In 2022, the average combined refrigerator-freezer export price amounted to $X per unit, increasing by 11% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Morocco ($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 Uzbekistan (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Combined Refrigerator-Freezer Imports

Imports into Lithuania

After four years of growth, supplies from abroad of combined refrigerators-freezers decreased by -4.3% to X units in 2022. Overall, imports, however, recorded a resilient increase. The growth pace was the most rapid in 2020 when imports increased by 39% against the previous year. Imports peaked at X units in 2021, and then reduced slightly in the following year.

In value terms, combined refrigerator-freezer imports shrank to $X in 2022. Over the period under review, imports, however, posted buoyant growth. The growth pace was the most rapid in 2020 when imports increased by 40% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted modestly in the following year.

Imports by Country

Latvia (X units), Poland (X units) and Turkey (X units) were the main suppliers of combined refrigerator-freezer imports to Lithuania, together accounting for 72% of total imports. China, Italy, Romania, Sweden, Hungary, Germany and Belarus lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +27.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Latvia ($X) constituted the largest supplier of combined refrigerators-freezers to Lithuania, comprising 47% of total imports. The second position in the ranking was taken by Poland ($X), with a 22% share of total imports. It was followed by Italy, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value from Latvia amounted to +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+2.7% per year) and Italy (+26.3% per year).

Import Prices by Country

The average combined refrigerator-freezer import price stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 14%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform