U.S.: Combined Refrigerator-Freezer Market 2025

Combined Refrigerator-Freezer Market Size in the U.S.

In 2022, the U.S. combined refrigerator-freezer market increased by 3.5% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Combined Refrigerator-Freezer Production in the U.S.

In value terms, combined refrigerator-freezer production dropped to $X in 2022. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 14%. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Combined Refrigerator-Freezer Exports

Exports from the U.S.

For the eighth year in a row, the United States recorded decline in shipments abroad of combined refrigerators-freezers, which decreased by -38.2% to X units in 2022. Over the period under review, exports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2014 when exports increased by 81%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, combined refrigerator-freezer exports surged to $X in 2022. Overall, exports continue to indicate a abrupt curtailment. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X units) was the main destination for combined refrigerator-freezer exports from the United States, accounting for a 67% share of total exports. Moreover, combined refrigerator-freezer exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), more than tenfold. The UK (X units) ranked third in terms of total exports with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada totaled -20.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-8.7% per year) and the UK (-8.9% per year).

In value terms, Canada ($X) remains the key foreign market for combined refrigerators-freezers exports from the United States, comprising 62% of total exports. The second position in the ranking was taken by Mexico ($X), with a 6.5% share of total exports. It was followed by the UK, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value to Canada stood at -9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+5.0% per year) and the UK (+3.9% per year).

Export Prices by Country

The average combined refrigerator-freezer export price stood at $X per unit in 2022, surging by 88% against the previous year. Overall, the export price posted resilient growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per unit), while the average price for exports to Turks and Caicos Islands ($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 Mexico (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Combined Refrigerator-Freezer Imports

Imports into the U.S.

After ten years of growth, purchases abroad of combined refrigerators-freezers decreased by -8.8% to X units in 2022. In general, imports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2020 with an increase of 23% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then reduced in the following year.

In value terms, combined refrigerator-freezer imports expanded to $X in 2022. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.5% 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 +106.4% against 2012 indices. The pace of growth was the most pronounced in 2021 with an increase of 29%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Mexico (X units), China (X units) and South Korea (X units) were the main suppliers of combined refrigerator-freezer imports to the United States, together comprising 91% of total imports. These countries were followed by Thailand, which accounted for a further 7.5%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +63.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constituted the largest supplier of combined refrigerators-freezers to the United States, comprising 55% of total imports. The second position in the ranking was taken by South Korea ($X), with a 26% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Mexico stood at +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+6.3% per year) and China (+16.3% per year).

Import Prices by Country

In 2022, the average combined refrigerator-freezer import price amounted to $X per unit, increasing by 15% against the previous year. Over the period under review, the import price, however, continues to indicate a mild decrease. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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