South-Eastern Asia: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in South-Eastern Asia

The Southeast Asian refrigerator or freezer market declined dramatically to $X in 2022, reducing by -30.1% against the previous year. In general, consumption recorded a deep contraction. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Refrigerator Or Freezer Production in South-Eastern Asia

In value terms, refrigerator or freezer production rose to $X in 2022 estimated in export price. Over the period under review, production, however, showed a temperate increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by 594%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Refrigerator Or Freezer Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of furniture designed to receive refrigerating or freezing equipment decreased by -27.1% to X units, falling for the sixth consecutive year after three years of growth. Over the period under review, exports recorded a pronounced downturn. The growth pace was the most rapid in 2015 when exports increased by 68%. The volume of export peaked at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, refrigerator or freezer exports dropped markedly to $X in 2022. Overall, exports, however, enjoyed a perceptible increase. The pace of growth appeared the most rapid in 2014 with an increase of 59% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X units) and Thailand (X units) prevails in exports structure, together comprising 91% of total exports. The following exporters - the Philippines (X units), Cambodia (X units) and Vietnam (X units) - together made up 8.1% of total exports.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +53.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Thailand ($X) and Cambodia ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 96% of total exports.

Cambodia, with a CAGR of +58.4%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, with an increase of 15% against the previous year. Over the last decade, it increased at an average annual rate of +4.9%. The pace of growth was the most pronounced in 2014 an increase of 16% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+4.7%), while the other leaders experienced more modest paces of growth.

Refrigerator Or Freezer Imports

Imports in South-Eastern Asia

For the sixth consecutive year, South-Eastern Asia recorded decline in purchases abroad of furniture designed to receive refrigerating or freezing equipment, which decreased by -15.6% to X units in 2022. In general, imports recorded a noticeable decline. The growth pace was the most rapid in 2013 with an increase of 23%. The volume of import peaked at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, refrigerator or freezer imports fell to $X in 2022. Over the period under review, imports continue to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2018 with an increase of 13%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Indonesia (X units) and Thailand (X units) were the largest importers of furniture designed to receive refrigerating or freezing equipment in 2022, amounting to approx. 31% and 31% of total imports, respectively. Malaysia (X units) ranks next in terms of the total imports with a 16% share, followed by Vietnam (13%). The following importers - the Philippines (X units), Singapore (X units) and Cambodia (X units) - together made up 9.5% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cambodia (with a CAGR of +44.6%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest refrigerator or freezer importing markets in South-Eastern Asia were Thailand ($X), Indonesia ($X) and Malaysia ($X), together comprising 80% of total imports. Vietnam, the Philippines, Singapore and Cambodia lagged somewhat behind, together comprising a further 20%.

Among the main importing countries, Cambodia, with a CAGR of +32.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2022, picking up by 9.5% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 20% against the previous year. The level of import peaked at $X per unit in 2012; afterwards, it flattened through to 2022.

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 the Philippines ($X per unit), while Cambodia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+10.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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