World - Refrigerators And Freezers - Market Analysis, Forecast, Size, Trends and Insights
China And The Republic of Korea Were The Main Exporters Of Refrigerators And Freezers In The World
The global refrigerators and freezers market has shown mixed dynamics in the last few years. The gradual increase over the period 2009-2010 was followed by a slight decline in 2011-2013, leading the market to 175 million units. In 2013, however, the market value increased by 6%, up to 57.6 billion USD, which is far below the highest level recorded in 2011 (63 billion USD).
China, the USA and Japan together accounted for approximately 85% of global refrigerators and freezers consumption. Global growth in refrigerators and freezers market is expected to slow to 8.5% (currently +12.5%), amidst sluggish consumer demand. In the past, refrigerators and freezers consumption was fueled by rising purchasing power, especially among the urban population, but this engine of growth is now under pressure from the current economic slowdown.
The output of the five major producers of refrigerators and freezers, namely China, Japan, the USA, Brazil and the EU, represent more than 80% of global output. In the USA, a country with a long tradition in producing refrigerators and freezers, the production levels decreased by 0.2% annually from 2007-2013. The balance of the countries, excluding the EU, showed steady growth in physical terms. Especially high were the growth levels in China (+10.8%) and Thailand (+9.9%).
In 2013, the USA (6.1 million units), France (4.8 million units), Japan (2.1 million units) and the United Kingdom (1.6 million units) were the main destinations of combined refrigerators and freezers imports, together making up 41.4% of global imports. France strengthened (+9.0%) its position in the global imports structure from 2007-2013, while Ukraine and Russian Federation reduced their shares from 4.7% to 2.3% and from 5.3% to 3.7%, respectively.
In 2013, China (8,398 million units) and the Republic of Korea (6,138 million units) were the main exporters of combined refrigerators and freezers in the world, together comprising 38.9% of global exports. While the share of Mexico increased from 6.7% in 2007 to 12.9% in 2013 (+6.2%), the share of the Republic of Korea illustrated negative dynamics (-6.3%). The shares of the other countries remained relatively stable throughout the analyzed period.
Source: IndexBox AI Platform
This report provides an in-depth analysis of the global refrigerator and freezer market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
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