South Africa: Refrigerator And Freezer Market 2024

Refrigerator And Freezer Market Size in South Africa

The South African refrigerator and freezer market fell to $X in 2022, dropping by X% against the previous year. In general, consumption saw a noticeable shrinkage. Refrigerator and freezer consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Refrigerator And Freezer Production in South Africa

In value terms, refrigerator and freezer production contracted modestly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Refrigerator and freezer production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Refrigerator And Freezer Exports

Exports from South Africa

Refrigerator and freezer exports from South Africa expanded modestly to X units in 2022, rising by X% against 2021 figures. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, refrigerator and freezer exports rose significantly to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Zambia (X units), Zimbabwe (X units) and Botswana (X units) were the main destinations of refrigerator and freezer exports from South Africa, together comprising X% 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 Zimbabwe (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

In terms of the main countries of destination, Zimbabwe, with a CAGR of X%, 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

The average refrigerator and freezer export price stood at $X per unit in 2022, picking up by X% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2018 an increase of X%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Namibia ($X per unit), while the average price for exports to Zimbabwe ($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 Mozambique (X%), while the prices for the other major destinations experienced a decline.

Refrigerator And Freezer Imports

Imports into South Africa

In 2022, overseas purchases of refrigerators and freezers decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of X units, and then contracted rapidly in the following year.

In value terms, refrigerator and freezer imports declined dramatically to $X in 2022. In general, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest refrigerator and freezer supplier to South Africa, accounting for a X% share of total imports. Moreover, refrigerator and freezer imports from China exceeded the figures recorded by the second-largest supplier, Swaziland (X units), eightfold. Turkey (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Swaziland (X% per year) and Turkey (X% per year).

In value terms, China ($X) constituted the largest supplier of refrigerators and freezers to South Africa, comprising X% of total imports. The second position in the ranking was held by Turkey ($X), with a X% share of total imports. It was followed by Swaziland, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Swaziland (X% per year).

Import Prices by Country

In 2022, the average refrigerator and freezer import price amounted to $X per unit, stabilizing at the previous year. Overall, the import price recorded a drastic downturn. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. The import price peaked at $X per unit in 2012; however, from 2013 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 Indonesia ($X per unit), while the price for Swaziland ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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