Southern Asia: Combined Refrigerator-Freezer Market 2025

Combined Refrigerator-Freezer Market Size in Southern Asia

The South Asian combined refrigerator-freezer market dropped modestly to $X in 2022, declining by -1.9% against the previous year. In general, consumption, however, continues to indicate a pronounced shrinkage. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Combined Refrigerator-Freezer Production in Southern Asia

In value terms, combined refrigerator-freezer production shrank modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2019 when the production volume increased by 3.9% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Combined Refrigerator-Freezer Exports

Exports in Southern Asia

In 2022, the amount of combined refrigerators-freezers exported in Southern Asia contracted to X units, which is down by -7.1% on the year before. Over the period under review, exports, however, showed a tangible expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 69% against the previous year. The volume of export peaked at X units in 2021, and then dropped in the following year.

In value terms, combined refrigerator-freezer exports dropped slightly to $X in 2022. Total exports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +83.5% against 2017 indices. The growth pace was the most rapid in 2018 when exports increased by 41% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then declined slightly in the following year.

Exports by Country

The biggest shipments were from India (X units), together amounting to 99% of total export.

India was also the fastest-growing in terms of the combined refrigerators-freezers exports, with a CAGR of +5.0% from 2012 to 2022. While the share of India (+5.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest combined refrigerator-freezer supplier in Southern Asia.

In India, combined refrigerator-freezer exports increased at an average annual rate of +3.7% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per unit, growing by 3.3% against the previous year. Overall, the export price, however, recorded a slight decline. The pace of growth was the most pronounced in 2014 when the export price increased by 25% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -1.3% per year.

Combined Refrigerator-Freezer Imports

Imports in Southern Asia

In 2022, approx. X units of combined refrigerators-freezers were imported in Southern Asia; falling by -16.3% against 2021 figures. Total imports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.8% 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 +16.2% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 44% against the previous year. The volume of import peaked at X units in 2021, and then dropped significantly in the following year.

In value terms, combined refrigerator-freezer imports fell to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +37.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 53%. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

In 2022, India (X units) represented the largest importer of combined refrigerators-freezers, constituting 62% of total imports. It was distantly followed by Bangladesh (X units) and Nepal (X units), together achieving a 30% share of total imports. Afghanistan (X units), Sri Lanka (X units) and Pakistan (X units) took a relatively small share of total imports.

Imports into India increased at an average annual rate of +8.6% from 2012 to 2022. At the same time, Nepal (+17.7%) and Pakistan (+10.6%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +17.7% from 2012-2022. By contrast, Afghanistan (-4.8%), Sri Lanka (-5.9%) and Bangladesh (-6.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India and Nepal increased by +30 and +3.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported combined refrigerators-freezers in Southern Asia, comprising 82% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 12% share of total imports. It was followed by Nepal, with a 1.8% share.

From 2012 to 2022, the average annual growth rate of value in India amounted to +9.3%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (-5.6% per year) and Nepal (+14.9% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2022, rising by 7.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2016 when the import price increased by 29% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

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 India ($X per unit), while Afghanistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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