Oman: Non-Combined Refrigerator-Freezer Market 2024

Non-Combined Refrigerator-Freezer Market Size in Oman

The Omani non-combined refrigerator-freezer market shrank significantly to $X in 2022, falling by -15.3% 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, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then declined significantly in the following year.

Non-Combined Refrigerator-Freezer Exports

Exports from Oman

In 2022, overseas shipments of household refrigerators and freezers (not combined) increased by 9% to X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports, however, showed a abrupt slump. The pace of growth was the most pronounced in 2018 when exports increased by 510%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-combined refrigerator-freezer exports declined to $X in 2022. In general, exports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 495% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Qatar (X units) was the main destination for non-combined refrigerator-freezer exports from Oman, accounting for a 65% share of total exports. Moreover, non-combined refrigerator-freezer exports to Qatar exceeded the volume sent to the second major destination, Yemen (X units), threefold. The third position in this ranking was taken by Iran (X units), with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Qatar amounted to -4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (+67.0% per year) and Iran (-27.3% per year).

In value terms, Qatar ($X) emerged as the key foreign market for household refrigerators and freezers (not combined) exports from Oman, comprising 66% of total exports. The second position in the ranking was taken by Yemen ($X), with a 16% share of total exports. It was followed by Iran, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (+26.4% per year) and Iran (-26.0% per year).

Export Prices by Country

The average non-combined refrigerator-freezer export price stood at $X per unit in 2022, declining by -8.4% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average export price increased by 26% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Somalia ($X per unit), while the average price for exports to Tunisia ($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 the United Arab Emirates (+17.5%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Combined Refrigerator-Freezer Imports

Imports into Oman

In 2022, the amount of household refrigerators and freezers (not combined) imported into Oman dropped to X units, declining by -14.9% compared with the previous year. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 43% against the previous year. As a result, imports attained the peak of X units, and then shrank in the following year.

In value terms, non-combined refrigerator-freezer imports shrank to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 43% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

Thailand (X units), China (X units) and the United Arab Emirates (X units) were the main suppliers of non-combined refrigerator-freezer imports to Oman, with a combined 78% share of total imports. Singapore, Indonesia, Brazil, India and Italy lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +96.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), China ($X) and the United Arab Emirates ($X) appeared to be the largest non-combined refrigerator-freezer suppliers to Oman, together comprising 76% of total imports. Singapore, Indonesia, India, Brazil and Italy lagged somewhat behind, together comprising a further 15%.

Singapore, with a CAGR of +87.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average non-combined refrigerator-freezer import price amounted to $X per unit, approximately reflecting the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 19%. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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