U.S.: Market for Household Refrigerators And Home Freezers 2024

Market Size for Household Refrigerators And Home Freezers in the U.S.

For the third year in a row, the U.S. market for household refrigerators and home freezers recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, consumption continues to indicate a significant expansion. Household refrigerator and home freezer consumption peaked in 2022 and is likely to continue growth in the immediate term.

Production of Household Refrigerators And Home Freezers in the U.S.

In value terms, household refrigerator and home freezer production declined to $X in 2022. The total output value increased at an average annual rate of X% from 2013 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2021, and then fell in the following year.

Exports of Household Refrigerators And Home Freezers

Exports from the U.S.

In 2022, overseas shipments of household refrigerators and home freezers increased by X% to X units, rising for the third year in a row after two years of decline. Overall, exports showed significant growth. The pace of growth was the most pronounced in 2020 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, household refrigerator and home freezer exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico (X units), Canada (X units) and China (X units) were the main destinations of household refrigerator and home freezer exports from the United States, together accounting for X% of total exports. Germany, the UK, the Philippines, South Korea, the Netherlands, Australia, Japan and Guatemala lagged somewhat behind, together accounting for a further X%.

From 2013 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Mexico ($X) and China ($X) were the largest markets for household refrigerator and home freezer exported from the United States worldwide, together accounting for X% of total exports. Germany, the UK, the Netherlands, South Korea, Australia, the Philippines, Japan and Guatemala lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, the Philippines, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for household refrigerators and home freezers amounted to $X per unit, falling by X% against the previous year. In general, the export price continues to indicate a dramatic decrease. The growth pace was the most rapid in 2014 when the average export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to the Philippines ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced a decline.

Imports of Household Refrigerators And Home Freezers

Imports into the U.S.

In 2022, the amount of household refrigerators and home freezers imported into the United States soared to X units, growing by X% against the year before. Overall, imports saw a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, household refrigerator and home freezer imports reached $X in 2022. In general, total imports indicated a resilient expansion from 2013 to 2022: its value increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2013 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

Mexico (X units), China (X units) and Canada (X units) were the main suppliers of household refrigerator and home freezer imports to the United States, together comprising X% of total imports.

From 2013 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

From 2013 to 2022, the average annual growth rate of value from Mexico stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average import price for household refrigerators and home freezers amounted to $X per unit, dropping by X% against the previous year. Overall, the import price saw a sharp decline. The growth pace was the most rapid in 2019 an increase of X%. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Canada ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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