Oman: Combined Refrigerator-Freezer Market 2024

Combined Refrigerator-Freezer Market Size in Oman

The Omani combined refrigerator-freezer market declined dramatically to $X in 2022, with a decrease of -19.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Combined Refrigerator-Freezer Exports

Exports from Oman

In 2022, after two years of growth, there was significant decline in shipments abroad of combined refrigerators-freezers, when their volume decreased by -8.4% to X units. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 2,341%. Over the period under review, the exports attained the maximum at X units in 2021, and then shrank in the following year.

In value terms, combined refrigerator-freezer exports expanded to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 2,450% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020; afterwards, it flattened through to 2022.

Exports by Country

Iran (X units) was the main destination for combined refrigerator-freezer exports from Oman, with a 93% share of total exports. Moreover, combined refrigerator-freezer exports to Iran exceeded the volume sent to the second major destination, Qatar (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Iran stood at +1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+13.7% per year) and Yemen (-6.4% per year).

In value terms, Iran ($X) remains the key foreign market for combined refrigerators-freezers exports from Oman, comprising 94% of total exports. The second position in the ranking was held by Qatar ($X), with a 4.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Iran was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+5.5% per year) and Yemen (-7.9% per year).

Export Prices by Country

The average combined refrigerator-freezer export price stood at $X per unit in 2022, rising by 12% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 48%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Yemen ($X per unit), while the average price for exports to Qatar ($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 Somalia (+3.9%), while the prices for the other major destinations experienced a decline.

Combined Refrigerator-Freezer Imports

Imports into Oman

In 2022, combined refrigerator-freezer imports into Oman dropped significantly to X units, waning by -17.1% compared with the previous year. Over the period under review, imports, however, posted mild growth. The pace of growth was the most pronounced in 2014 with an increase of 123% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, combined refrigerator-freezer imports fell significantly to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 64% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X units), the United Arab Emirates (X units) and Thailand (X units) were the main suppliers of combined refrigerator-freezer imports to Oman, with a combined 94% share 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 United Arab Emirates (with a CAGR of +26.1%), while imports for the other leaders experienced mixed trend patterns.

In value terms, China ($X), the United Arab Emirates ($X) and Thailand ($X) were the largest combined refrigerator-freezer suppliers to Oman, with a combined 94% share of total imports.

The United Arab Emirates, with a CAGR of +21.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average combined refrigerator-freezer import price stood at $X per unit in 2022, falling by -1.8% against the previous year. Over the period under review, the import price saw a slight decline. The most prominent rate of growth was recorded in 2016 an increase of 15% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Turkey ($X per unit) and China ($X per unit), while the price for the United Arab Emirates ($X per unit) and India ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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