Vietnam: Combined Refrigerator-Freezer Market 2025

Combined Refrigerator-Freezer Market Size in Vietnam

The Vietnamese combined refrigerator-freezer market expanded significantly to $X in 2022, increasing by 7.2% against the previous year. In general, consumption, however, showed a mild shrinkage. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Combined Refrigerator-Freezer Production in Vietnam

In value terms, combined refrigerator-freezer production expanded notably to $X in 2022 estimated in export price. Overall, production, however, showed a deep contraction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 37% against the previous year. Over the period under review, production reached 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 Vietnam

After seven years of growth, overseas shipments of combined refrigerators-freezers decreased by -23.2% to X units in 2022. Over the period under review, exports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 97% against the previous year. Over the period under review, the exports attained the maximum at X units in 2021, and then reduced markedly in the following year.

In value terms, combined refrigerator-freezer exports plummeted to $X in 2022. In general, exports, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2016 with an increase of 84%. The exports peaked at $X in 2021, and then fell sharply in the following year.

Exports by Country

The Philippines (X units), South Korea (X units) and Chile (X units) were the main destinations of combined refrigerator-freezer exports from Vietnam, together comprising 43% of total exports. Indonesia, New Zealand, Colombia, Peru, Malaysia, Thailand, Japan, Hong Kong SAR and Slovakia lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of +181.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), the Philippines ($X) and Indonesia ($X) appeared to be the largest markets for combined refrigerator-freezer exported from Vietnam worldwide, together accounting for 44% of total exports. New Zealand, Chile, Colombia, Peru, Japan, Malaysia, Thailand, Hong Kong SAR and Slovakia lagged somewhat behind, together accounting for a further 42%.

Among the main countries of destination, Colombia, with a CAGR of +168.8%, saw the highest rates of growth with regard to 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 combined refrigerator-freezer export price amounted to $X per unit, approximately equating the previous year. Overall, the export price, however, recorded a slight descent. The growth pace was the most rapid in 2016 when the average export price increased by 4.9%. The export price peaked at $X per unit in 2013; however, from 2014 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 Slovakia ($X per unit), while the average price for exports to Chile ($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 Slovakia (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Combined Refrigerator-Freezer Imports

Imports into Vietnam

In 2022, imports of combined refrigerators-freezers into Vietnam stood at X units, surging by 1.8% on the year before. Overall, imports showed resilient growth. The pace of growth was the most pronounced in 2017 with an increase of 234%. Imports peaked at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, combined refrigerator-freezer imports reduced modestly to $X in 2022. In general, imports posted a buoyant expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 222% against the previous year. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

Thailand (X units), China (X units) and Indonesia (X units) were the main suppliers of combined refrigerator-freezer imports to Vietnam, together accounting for 98% of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +42.0%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest combined refrigerator-freezer suppliers to Vietnam were Thailand ($X), China ($X) and Indonesia ($X), together comprising 98% of total imports.

Thailand, with a CAGR of +43.6%, saw 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 mixed trend patterns.

Import Prices by Country

The average combined refrigerator-freezer import price stood at $X per unit in 2022, shrinking by -4.4% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 12%. Over the period under review, average import prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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