Middle East: Combined Refrigerator-Freezer Market 2024

Combined Refrigerator-Freezer Market Size in the Middle East

For the third consecutive year, the Middle Eastern combined refrigerator-freezer market recorded decline in sales value, which decreased by -22.6% to $X in 2022. In general, consumption continues to indicate a noticeable decline. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Combined Refrigerator-Freezer Production in the Middle East

In value terms, combined refrigerator-freezer production shrank slightly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 27% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Combined Refrigerator-Freezer Exports

Exports in the Middle East

Combined refrigerator-freezer exports stood at X units in 2022, remaining stable against the previous year. Total exports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +16.6% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 45% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, combined refrigerator-freezer exports reduced slightly to $X in 2022. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when exports increased by 31%. The level of export peaked at $X in 2021, and then fell modestly in the following year.

Exports by Country

The biggest shipments were from Turkey (X units), together accounting for 99% of total export.

Turkey was also the fastest-growing in terms of the combined refrigerators-freezers exports, with a CAGR of +4.4% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) also remains the largest combined refrigerator-freezer supplier in the Middle East.

In Turkey, combined refrigerator-freezer exports increased at an average annual rate of +1.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, reducing by -3% against the previous year. In general, the export price continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2021 an increase of 12% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2022, the rate of growth in terms of prices for Turkey amounted to -2.5% per year.

Combined Refrigerator-Freezer Imports

Imports in the Middle East

In 2022, overseas purchases of combined refrigerators-freezers decreased by -32.2% to X units, falling for the second consecutive year after two years of growth. Overall, imports continue to indicate a pronounced slump. The pace of growth appeared the most rapid in 2019 when imports increased by 27%. The volume of import peaked at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, combined refrigerator-freezer imports shrank significantly to $X in 2022. Over the period under review, imports showed a abrupt curtailment. The pace of growth was the most pronounced in 2019 with an increase of 29% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Iraq (X units) and the United Arab Emirates (X units) dominates imports structure, together comprising 71% of total imports. It was distantly followed by Turkey (X units), Israel (X units) and Qatar (X units), together generating a 16% share of total imports. The following importers - Kuwait (X units) and Yemen (X units) - each accounted for a 7.7% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of +9.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Iraq ($X) and Turkey ($X) constituted the countries with the highest levels of imports in 2022, with a combined 75% share of total imports.

Iraq, with a CAGR of +8.7%, saw the highest growth rate of 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 the Middle East stood at $X per unit in 2022, waning by -10.8% against the previous year. In general, the import price recorded a noticeable shrinkage. The growth pace was the most rapid in 2021 when the import price increased by 19%. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per unit), while Yemen ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iraq (-0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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