Scandinavia: Combined Refrigerator-Freezer Market 2025

Combined Refrigerator-Freezer Market Size in Scandinavia

In 2022, the Scandinavia combined refrigerator-freezer market decreased by -11.2% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the market value increased by 9.6% against the previous year. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Combined Refrigerator-Freezer Production in Scandinavia

In value terms, combined refrigerator-freezer production shrank modestly to $X in 2022 estimated in export price. In general, production recorded a pronounced reduction. The most prominent rate of growth was recorded in 2021 with an increase of 5.3%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Combined Refrigerator-Freezer Exports

Exports in Scandinavia

In 2022, after five years of growth, there was decline in overseas shipments of combined refrigerators-freezers, when their volume decreased by -3.5% to X units. The total export volume increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when exports increased by 12% against the previous year. The volume of export peaked at X units in 2021, and then contracted slightly in the following year.

In value terms, combined refrigerator-freezer exports declined to $X in 2022. The total export value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 15%. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

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

Sweden was also the fastest-growing in terms of the combined refrigerators-freezers exports, with a CAGR of +3.7% from 2012 to 2022. Sweden (+1.8 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, Sweden ($X) also remains the largest combined refrigerator-freezer supplier in Scandinavia.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden totaled +3.2%.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per unit, declining by -2.4% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by 12%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Sweden amounted to -0.5% per year.

Combined Refrigerator-Freezer Imports

Imports in Scandinavia

In 2022, the amount of combined refrigerators-freezers imported in Scandinavia contracted to X units, falling by -6.9% on the previous year's figure. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 9.6% against the previous year. Over the period under review, imports reached the maximum at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, combined refrigerator-freezer imports dropped to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 14%. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

Sweden represented the major importer of combined refrigerators-freezers in Scandinavia, with the volume of imports recording X units, which was approx. 64% of total imports in 2022. Finland (X units) took an 18% share (based on physical terms) of total imports, which put it in second place, followed by Norway (18%).

Sweden was also the fastest-growing in terms of the combined refrigerators-freezers imports, with a CAGR of +2.9% from 2012 to 2022. At the same time, Finland (+1.2%) displayed positive paces of growth. Norway experienced a relatively flat trend pattern. While the share of Sweden (+4.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Finland (-1.6 p.p.) and Norway (-3.3 p.p.) displayed negative dynamics.

In value terms, Sweden ($X) constitutes the largest market for imported combined refrigerators-freezers in Scandinavia, comprising 60% of total imports. The second position in the ranking was taken by Norway ($X), with a 23% share of total imports.

In Sweden, combined refrigerator-freezer imports increased at an average annual rate of +1.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Norway (-1.2% per year) and Finland (+1.0% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per unit, which is down by -3.8% against the previous year. Over the period under review, the import price saw a mild slump. The most prominent rate of growth was recorded in 2021 an increase of 15% against the previous year. The level of import 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 importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per unit), while Finland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (-0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform