Slovakia: Combined Refrigerator-Freezer Market 2024

Combined Refrigerator-Freezer Market Size in Slovakia

The Slovak combined refrigerator-freezer market dropped markedly to $X in 2022, waning by -44.1% against the previous year. In general, consumption continues to indicate a perceptible downturn. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Combined Refrigerator-Freezer Production in Slovakia

In value terms, combined refrigerator-freezer production fell to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 411% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Combined Refrigerator-Freezer Exports

Exports from Slovakia

In 2022, approx. X units of combined refrigerators-freezers were exported from Slovakia; picking up by 58% against the previous year. In general, exports enjoyed a strong increase. The growth pace was the most rapid in 2016 with an increase of 87% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, combined refrigerator-freezer exports skyrocketed to $X in 2022. Over the period under review, exports saw buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Hungary (X units), the Czech Republic (X units) and Austria (X units) were the main destinations of combined refrigerator-freezer exports from Slovakia, with a combined 95% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +23.7%), while the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Hungary ($X) and Austria ($X) were the largest markets for combined refrigerator-freezer exported from Slovakia worldwide, together accounting for 96% of total exports.

In terms of the main countries of destination, Hungary, with a CAGR of +23.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average combined refrigerator-freezer export price amounted to $X per unit, rising by 7.6% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 48%. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per unit), while the average price for exports to Croatia ($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 Czech Republic (+1.9%), while the prices for the other major destinations experienced a decline.

Combined Refrigerator-Freezer Imports

Imports into Slovakia

In 2022, imports of combined refrigerators-freezers into Slovakia contracted modestly to X units, which is down by -3% compared with the year before. Overall, imports, however, posted a prominent increase. The growth pace was the most rapid in 2017 with an increase of 62% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, combined refrigerator-freezer imports reduced to $X in 2022. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +1.7% against 2017 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 38%. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Poland (X units) constituted the largest supplier of combined refrigerator-freezer to Slovakia, with a 48% share of total imports. Moreover, combined refrigerator-freezer imports from Poland exceeded the figures recorded by the second-largest supplier, China (X units), twofold. Turkey (X units) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland stood at +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.6% per year) and Turkey (+3.1% per year).

In value terms, Poland ($X) constituted the largest supplier of combined refrigerators-freezers to Slovakia, comprising 52% of total imports. The second position in the ranking was taken by China ($X), with a 16% share of total imports. It was followed by Italy, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland stood at +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.7% per year) and Italy (+8.4% per year).

Import Prices by Country

The average combined refrigerator-freezer import price stood at $X per unit in 2022, reducing by -5% against the previous year. In general, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, combined refrigerator-freezer import price increased by +77.5% against 2017 indices. The growth pace was the most rapid in 2018 when the average import price increased by 35%. Over the period under review, average import prices reached the maximum at $X per unit in 2021, and then shrank in the following year.

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 Italy ($X per unit), while the price for Serbia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+32.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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