Nigeria: Refrigerator And Freezer Market 2025

Refrigerator And Freezer Market Size in Nigeria

The Nigerien refrigerator and freezer market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Refrigerator And Freezer Exports

Exports from Nigeria

In 2022, the amount of refrigerators and freezers exported from Nigeria shrank rapidly to X units, dropping by X% on the previous year. Overall, exports showed a sharp reduction. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, refrigerator and freezer exports shrank remarkably to $X in 2022. Over the period under review, exports saw a sharp curtailment. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Lebanon (X units), Benin (X units) and Tanzania (X units) were the main destinations of refrigerator and freezer exports from Nigeria, with a combined X% share of total exports.

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

In value terms, the largest markets for refrigerator and freezer exported from Nigeria were Lebanon ($X), Benin ($X) and Kenya ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Lebanon, with a CAGR of X%, recorded the highest rates of growth with regard to 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 refrigerator and freezer export price stood at $X per unit in 2022, growing by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Kenya ($X per unit), while the average price for exports to Egypt ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator And Freezer Imports

Imports into Nigeria

In 2022, purchases abroad of refrigerators and freezers decreased by X% to X units, falling for the third consecutive year after two years of growth. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, refrigerator and freezer imports expanded significantly to $X in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by X%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of refrigerator and freezer to Nigeria, accounting for a X% share of total imports. Moreover, refrigerator and freezer imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), more than tenfold. India (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and India (X% per year).

In value terms, China ($X) constituted the largest supplier of refrigerators and freezers to Nigeria, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and India (X% per year).

Import Prices by Country

In 2022, the average refrigerator and freezer import price amounted to $X per unit, with an increase of X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from India ($X per unit) and China ($X per unit), while the price for South Korea ($X per unit) and Indonesia ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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