Refrigerator Market - Mexico Became the Largest Exporter of Refrigerators and Freezers in the World, with $2.7B in 2014

Domestic Appliances June 22, 2015
Author: Svetlana Sitkova
Head of Industrial Research Department

refrigerator market

Mexico edged ahead of China in the global refrigerator and freezer trade with $2.7B in total sales. In 2014, these two countries were the main global suppliers of refrigerators and freezers with a combined share of 48.1% of global exports. Mexico's main trading partner was the United States, where it supplied 86.6% of its exports on the refrigerator market, accounting for 55.1% of total U.S. imports.

Overall, the global refrigerator and freezer trade reached 10.0 billion USD, with a CAGR of 1.8% from 2007 to 2014. In physical terms, it showed moderate growth, rising from 2.0 million tonnes in 2007 to 2.1 million tonnes in 2014.

In 2014, the U.S. (37.8%), Japan (6.7%), Canada (5.0%), Germany (4.9%) and the United Kingdom (4.8%) were the leading destinations of refrigerator and freezer imports, together making up 59.2% of global imports. The share of global trade of the U.S. increased significantly (+6.9 percentage points), while the share of Spain illustrated negative dynamics (-3.6 percentage points).

The fastest growing exporters from 2007 to 2014 were Thailand (+24.8% per year) and Poland (+20.0% per year). Mexico significantly strengthened its position in the global exports structure, from 10.4% in 2007 to 26.8% in 2014.

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Source: World: Refrigerators And Freezers - Market Report. Analysis and Forecast to 2020