U.S.: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in the U.S.

The U.S. refrigerator or freezer market surged to $X in 2022, increasing by 18% against the previous year. Overall, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +163.5% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Refrigerator Or Freezer Production in the U.S.

In value terms, refrigerator or freezer production shrank to $X in 2022. Over the period under review, production showed a abrupt setback. The growth pace was the most rapid in 2021 with an increase of 27% against the previous year. Refrigerator or freezer production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Refrigerator Or Freezer Exports

Exports from the U.S.

In 2022, the amount of furniture designed to receive refrigerating or freezing equipment exported from the United States soared to X units, surging by 17% against the previous year. Overall, exports, however, saw a abrupt decline. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, refrigerator or freezer exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a deep contraction. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X units) was the main destination for refrigerator or freezer exports from the United States, with a 41% share of total exports. Moreover, refrigerator or freezer exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), twofold. Japan (X units) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada totaled -3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-8.6% per year) and Japan (+13.0% per year).

In value terms, Canada ($X) remains the key foreign market for furniture designed to receive refrigerating or freezing equipment exports from the United States, comprising 45% of total exports. The second position in the ranking was held by Mexico ($X), with a 15% share of total exports. It was followed by Japan, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada totaled -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-11.2% per year) and Japan (+9.9% per year).

Export Prices by Country

The average refrigerator or freezer export price stood at $X per unit in 2022, jumping by 54% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to China ($X per unit) and Brazil ($X per unit), while the average price for exports to the UK ($X per unit) and Japan ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+0.3%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Or Freezer Imports

Imports into the U.S.

In 2022, the amount of furniture designed to receive refrigerating or freezing equipment imported into the United States soared to X units, with an increase of 46% against the year before. Over the period under review, imports enjoyed a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 70%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, refrigerator or freezer imports skyrocketed to $X in 2022. Overall, imports recorded significant growth. The growth pace was the most rapid in 2017 when imports increased by 92%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Mexico (X units), Canada (X units) and China (X units) were the main suppliers of refrigerator or freezer imports to the United States, with a combined 79% share of total imports. Poland, Japan, Germany, France and Italy lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +96.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refrigerator or freezer suppliers to the United States were Mexico ($X), Canada ($X) and China ($X), together comprising 78% of total imports. Poland, Japan, Germany, France and Italy lagged somewhat behind, together comprising a further 16%.

Poland, with a CAGR of +91.3%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average refrigerator or freezer import price amounted to $X per unit, dropping by -2.5% against the previous year. In general, the import price continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2017 an increase of 13%. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Italy ($X per unit) and Mexico ($X per unit), while the price for Canada ($X per unit) and France ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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