SADC: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in SADC

The SADC refrigerator or freezer market declined to $X in 2022, falling by -14.9% against the previous year. Over the period under review, consumption continues to indicate a noticeable decrease. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Refrigerator Or Freezer Production in SADC

In value terms, refrigerator or freezer production shrank to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2018 with an increase of 48%. The level of production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Refrigerator Or Freezer Exports

Exports in SADC

In 2022, shipments abroad of furniture designed to receive refrigerating or freezing equipment increased by 12% to X units, rising for the second consecutive year after two years of decline. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 74%. The volume of export peaked at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, refrigerator or freezer exports stood at $X in 2022. Overall, exports, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 91%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

South Africa (X units) represented roughly 99% of total exports in 2022.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of furniture designed to receive refrigerating or freezing equipment. South Africa (+5.8 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest refrigerator or freezer supplier in SADC.

In South Africa, refrigerator or freezer exports shrank by an average annual rate of -3.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in SADC amounted to $X per unit, falling by -5.2% against the previous year. Overall, the export price recorded a noticeable decline. The growth pace was the most rapid in 2015 when the export price increased by 58% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to -3.8% per year.

Refrigerator Or Freezer Imports

Imports in SADC

In 2022, refrigerator or freezer imports in SADC fell slightly to X units, therefore, remained relatively stable against the previous year. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 65%. 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, refrigerator or freezer imports shrank to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 80% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

South Africa (X units) and Botswana (X units) represented the main importers of furniture designed to receive refrigerating or freezing equipment in 2022, accounting for approx. 28% and 20% of total imports, respectively. Mozambique (X units) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Zimbabwe (9.9%), Angola (6.4%) and Swaziland (4.6%). Zambia (X units) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Botswana (with a CAGR of +18.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) constitutes the largest market for imported furniture designed to receive refrigerating or freezing equipment in SADC, comprising 39% of total imports. The second position in the ranking was held by Mozambique ($X), with an 11% share of total imports. It was followed by Zimbabwe, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa totaled +7.2%. In the other countries, the average annual rates were as follows: Mozambique (+5.7% per year) and Zimbabwe (-1.8% per year).

Import Prices by Country

The import price in SADC stood at $X per unit in 2022, declining by -6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2019 when the import price increased by 64% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the 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 South Africa ($X per unit), while Botswana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Angola (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform