United Kingdom: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in the UK

The UK refrigerator or freezer market soared to $X in 2022, picking up by 148% against the previous year. Overall, consumption continues to indicate a slight expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Refrigerator Or Freezer Production in the UK

In value terms, refrigerator or freezer production reached $X in 2022 estimated in export price. Overall, production, however, posted temperate growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 208% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Refrigerator Or Freezer Exports

Exports from the UK

Refrigerator or freezer exports from the UK soared to X units in 2022, picking up by 20% against 2021. Overall, exports, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2015 with an increase of 31% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, refrigerator or freezer exports expanded significantly to $X in 2022. In general, exports, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2014 with an increase of 41% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ireland (X units), the United States (X units) and the Netherlands (X units) were the main destinations of refrigerator or freezer exports from the UK, together accounting for 58% 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 the Netherlands (with a CAGR of +27.5%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for furniture designed to receive refrigerating or freezing equipment exports from the UK, comprising 31% of total exports. The second position in the ranking was held by the Netherlands ($X), with an 11% share of total exports. It was followed by Hungary, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+13.9% per year) and Hungary (+15.1% per year).

Export Prices by Country

The average refrigerator or freezer export price stood at $X per unit in 2022, which is down by -5.3% against the previous year. In general, the export price showed a pronounced curtailment. The pace of growth was the most pronounced in 2020 an increase of 19% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Ireland ($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 the United Arab Emirates (+4.5%), while the prices for the other major destinations experienced a decline.

Refrigerator Or Freezer Imports

Imports into the UK

In 2022, supplies from abroad of furniture designed to receive refrigerating or freezing equipment increased by 125% to X units, rising for the second year in a row after three years of decline. Over the period under review, imports recorded a mild increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, refrigerator or freezer imports skyrocketed to $X in 2022. Overall, imports saw a mild increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X units), China (X units) and France (X units) were the main suppliers of refrigerator or freezer imports to the UK, with a combined 82% share of total imports. Germany, the United States, Italy and Portugal lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +40.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refrigerator or freezer suppliers to the UK were France ($X), Turkey ($X) and Germany ($X), together comprising 77% of total imports.

Germany, with a CAGR of +39.2%, recorded the highest rates of growth with regard to 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, which is down by -5.6% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 41% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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