Report Republic of Korea - Furniture Designed to Receive Refrigerating or Freezing Equipment - Market Analysis, Forecast, Size, Trends and Insights for 499$

Report Update Nov 1, 2024

Republic of Korea - Furniture Designed to Receive Refrigerating or Freezing Equipment - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Republic of Korea

In 2022, after two years of growth, there was significant decline in the South Korean refrigerator or freezer market, when its value decreased by -34.5% to $X. Overall, consumption, however, continues to indicate a strong expansion. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Refrigerator Or Freezer Exports

Exports from Republic of Korea

In 2022, after four years of growth, there was significant decline in overseas shipments of furniture designed to receive refrigerating or freezing equipment, when their volume decreased by -12.6% to X units. In general, exports, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2018 when exports increased by 108%. Over the period under review, the exports reached the peak figure at X units in 2021, and then reduced in the following year.

In value terms, refrigerator or freezer exports shrank notably to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 54% against the previous year. The exports peaked at $X in 2021, and then declined remarkably in the following year.

Exports by Country

Mexico (X units) was the main destination for refrigerator or freezer exports from South Korea, accounting for a 97% share of total exports. It was followed by Japan (X units), with a 2.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mexico amounted to +25.2%.

In value terms, Mexico ($X) remains the key foreign market for furniture designed to receive refrigerating or freezing equipment exports from South Korea, comprising 77% of total exports. The second position in the ranking was taken by Japan ($X), with a 16% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Mexico amounted to +3.3%.

Export Prices by Country

In 2022, the average refrigerator or freezer export price amounted to $X per unit, with a decrease of -21% against the previous year. Over the period under review, the export price faced a deep slump. The pace of growth was the most pronounced in 2013 an increase of 10%. As a result, the export price reached 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Mexico amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (-0.7%).

Refrigerator Or Freezer Imports

Imports into Republic of Korea

In 2022, supplies from abroad of furniture designed to receive refrigerating or freezing equipment decreased by -25.2% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by 160% against the previous year. Over the period under review, imports reached the peak figure at X units in 2021, and then shrank rapidly in the following year.

In value terms, refrigerator or freezer imports dropped rapidly to $X in 2022. Overall, imports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2017 when imports increased by 92%. Imports peaked at $X in 2021, and then fell remarkably in the following year.

Imports by Country

In 2022, China (X units) was the main supplier of refrigerator or freezer to South Korea, accounting for a 96% share of total imports. It was followed by Vietnam (X units), with a 2.3% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China totaled +17.6%.

In value terms, China ($X) constituted the largest supplier of furniture designed to receive refrigerating or freezing equipment to South Korea, comprising 82% of total imports. The second position in the ranking was held by Vietnam ($X), with a 3.3% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +14.0%.

Import Prices by Country

In 2022, the average refrigerator or freezer import price amounted to $X per unit, surging by 12% against the previous year. In general, the import price, however, showed a perceptible setback. The pace of growth was the most pronounced in 2014 when the average import price increased by 37%. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per unit), while the price for China amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-3.1%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for furniture designed to receive refrigerating or freezing equipment in the world?

The country with the largest volume of refrigerator or freezer consumption was China, accounting for 20% of total volume. Moreover, refrigerator or freezer consumption in China exceeded the figures recorded by the second-largest consumer, India, twofold. The United States ranked third in terms of total consumption with a 7.1% share.

What are the largest producers of furniture designed to receive refrigerating or freezing equipment in the world?

The country with the largest volume of refrigerator or freezer production was China, accounting for 24% of total volume. Moreover, refrigerator or freezer production in China exceeded the figures recorded by the second-largest producer, India, threefold. The third position in this ranking was occupied by the United States, with a 5.8% share.

What are the leading suppliers of furniture designed to receive refrigerating or freezing equipment to Republic of Korea?

In value terms, China constituted the largest supplier of refrigerator or freezer to South Korea.

What are the leading importers of furniture designed to receive refrigerating or freezing equipment from Republic of Korea?

In value terms, Mexico remains the key foreign market for refrigerator or freezer exports from South Korea, comprising 73% of total exports. The second position in the ranking was occupied by Japan, with a 13% share of total exports.

What is the average export price for furniture designed to receive refrigerating or freezing equipment in Republic of Korea?

The average refrigerator or freezer export price stood at $3,526 per ton in 2021, dropping by -10.1% against the previous year.

What is the average import price for furniture designed to receive refrigerating or freezing equipment in Republic of Korea?

The average refrigerator or freezer import price stood at $2,224 per ton in 2021, which is down by -4.8% against the previous year.

This report provides an in-depth analysis of the refrigerator or freezer market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28253030 - Furniture designed to receive refrigerating or freezing equipment (including evaporators, complete refrigerating units)

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023