South Africa: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in South Africa

In 2022, the South African refrigerator or freezer market decreased by -27.7% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption showed a abrupt curtailment. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Refrigerator Or Freezer Production in South Africa

In value terms, refrigerator or freezer production declined to $X in 2022 estimated in export price. Overall, production, however, faced a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 48%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Refrigerator Or Freezer Exports

Exports from South Africa

In 2022, shipments abroad of furniture designed to receive refrigerating or freezing equipment increased by 12% to X units, rising for the second year in a row after two years of decline. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 77% against the previous year. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, refrigerator or freezer exports totaled $X in 2022. Overall, exports, however, continue to indicate a pronounced decrease. The pace of growth was the most pronounced in 2015 with an increase of 93% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Zambia (X units), Mozambique (X units) and Botswana (X units) were the main destinations of refrigerator or freezer exports from South Africa, with a combined 49% share of total exports. Zimbabwe, Namibia, Lesotho, Swaziland, Malawi and Australia lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lesotho (with a CAGR of +11.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for refrigerator or freezer exported from South Africa were Zimbabwe ($X), Botswana ($X) and Mozambique ($X), together accounting for 51% of total exports. Namibia, Zambia, Swaziland, Malawi, Lesotho and Australia lagged somewhat behind, together comprising a further 37%.

In terms of the main countries of destination, Malawi, with a CAGR of +8.2%, saw the highest rates of growth with regard to 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 refrigerator or freezer export price amounted to $X per unit, reducing by -5.2% against the previous year. Overall, the export price showed a pronounced slump. The growth pace was the most rapid in 2015 an increase of 58% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

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 Australia ($X per unit), while the average price for exports to Lesotho ($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 Swaziland (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Or Freezer Imports

Imports into South Africa

In 2022, approx. X units of furniture designed to receive refrigerating or freezing equipment were imported into South Africa; with an increase of 12% compared with the year before. Overall, imports saw buoyant growth. The pace of growth was the most pronounced in 2016 when imports increased by 170% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, refrigerator or freezer imports declined to $X in 2022. Over the period under review, imports recorded a remarkable increase. The pace of growth appeared the most rapid in 2019 when imports increased by 171%. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of refrigerator or freezer to South Africa, accounting for a 58% share of total imports. Moreover, refrigerator or freezer imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+18.9% per year) and the Netherlands (+26.4% per year).

In value terms, Italy ($X), China ($X) and the Netherlands ($X) constituted the largest refrigerator or freezer suppliers to South Africa, together comprising 96% of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +23.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average refrigerator or freezer import price stood at $X per unit in 2022, with a decrease of -15.4% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 83% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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