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World - Refrigerators And Freezers - Market Analysis, Forecast, Size, Trends and Insights

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Article Publishing Date: Jun 28, 2019

Global Refrigerator and Freezer Market 2019 - Key Insights

IndexBox has just published a new report, the World - Refrigerators And Freezers - Market Analysis, Forecast, Size, Trends and Insights. Here is a summary of the report's key findings.

The global refrigerator and freezer market revenue amounted to $72.8B in 2017, picking up by 19% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.3% from 2007 to 2017; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017, with an increase of 19% against the previous year. Over the period under review, the global refrigerator and freezer market attained its peak figure level at $73.7B in 2014; however, from 2015 to 2017, consumption remained at a lower figure.

Production 2007-2017


Global refrigerator and freezer production stood at 300K tonnes in 2017, leveling off at the previous year.

Refrigerator And Freezer Exports


Exports 2007-2017


In 2017, the global exports of refrigerators and freezers stood at 78K tonnes, dropping by -17.2% against the previous year. Overall, refrigerator and freezer exports continue to indicate a relatively flat trend pattern.

In value terms, refrigerator and freezer exports amounted to $20B (IndexBox estimates) in 2017. The total export value increased at an average annual rate of +1.5% from 2007 to 2017; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, global refrigerator and freezer exports attained their maximum at $21.1B in 2014; however, from 2015 to 2017, exports failed to regain their momentum.

Exports by Country


In 2017, China (26K tonnes) represented the major exporter for refrigerators and freezers, achieving 34% of total exports. Mexico (7.1K tonnes) took the second position in the ranking, followed by South Korea (7K tonnes), Turkey (5.7K tonnes) and Thailand (4.4K tonnes). All these countries together held approx. 31% share of total exports. Poland (2.7K tonnes), Germany (2.5K tonnes), Italy (2.4K tonnes), Romania (2K tonnes), Hungary (1.8K tonnes) and the U.S. (1.4K tonnes) followed a long way behind the leaders.

From 2007 to 2017, average annual rates of growth with regard to refrigerator and freezer exports from China stood at +3.3%. At the same time, Romania (+9.3%), Mexico (+6.4%) and Poland (+3.0%) displayed positive paces of growth. Moreover, Romania emerged as the fastest growing exporter in the world, with a CAGR of +9.3% from 2007-2017. Turkey and South Korea experienced a relatively flat trend pattern. By contrast, Thailand (-2.3%), Hungary (-3.6%), the U.S. (-3.8%), Italy (-7.0%) and Germany (-7.6%) illustrated a downward trend over the same period. Germany (3.9%) and Italy (3.4%) significantly strengthened its position in terms of the global exports, while Romania, Mexico and China saw its share reduced by -1.5%, -4.2% and -9.4% from 2007 to 2017, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($5.6B), Mexico ($3.5B) and South Korea ($1.7B) appeared to be the countries with the highest levels of exports in 2017, with a combined 54% share of global exports.

Export Prices by Country


In 2017, the average refrigerator and freezer export price amounted to $257 per kg, growing by 25% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%.

There were significant differences in the average export prices amongst the major exporting countries. In 2017, the country with the highest export price was Mexico ($491 per kg), while Romania ($158 per kg) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by Thailand (+6.2% per year), while the other global leaders experienced more modest paces of growth.

Refrigerator And Freezer Imports


Imports 2007-2017


In 2017, approx. 88K tonnes of refrigerators and freezers were imported worldwide; going up by 3.7% against the previous year. The total import volume increased at an average annual rate of +2.1% over the period from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period.

In value terms, refrigerator and freezer imports stood at $21B (IndexBox estimates) in 2017. The total import value increased at an average annual rate of +1.8% over the period from 2007 to 2017; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, global refrigerator and freezer imports reached their peak figure at $21.2B in 2014; however, from 2015 to 2017, imports failed to regain their momentum.

Imports by Country


The U.S. was the largest importer of refrigerators and freezers in the world, with the volume of imports amounting to 21K tonnes, which was near 24% of total imports in 2017. The UK (5.4K tonnes) ranks second in terms of the global imports with a 6.1% share, followed by Germany (5%) and France (4.9%). Italy (2.7K tonnes), Japan (2.3K tonnes), Canada (2K tonnes), Russia (1.9K tonnes), Australia (1.7K tonnes), Sweden (1.6K tonnes), Spain (1.5K tonnes) and Viet Nam (1.5K tonnes) followed a long way behind the leaders.

Imports into the U.S. increased at an average annual rate of +4.9% from 2007 to 2017. At the same time, Viet Nam (+14.4%), Australia (+5.6%), Sweden (+3.6%), Germany (+3.5%) and Italy (+1.3%) displayed positive paces of growth. Moreover, Viet Nam emerged as the fastest growing importer in the world, with a CAGR of +14.4% from 2007-2017. France, Russia, the UK and Japan experienced a relatively flat trend pattern. By contrast, Canada (-1.7%) and Spain (-4.8%) illustrated a downward trend over the same period. From 2007 to 2017, the share of the U.S. decreased by -9.3% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($5.9B) constitutes the largest market for imported refrigerators and freezers worldwide, comprising 28% of global imports. The second position in the ranking was occupied by the UK ($973M), with a 4.6% share of global imports. It was followed by France, with a 4.4% share.

Import Prices by Country


The average refrigerator and freezer import price stood at $240 per kg in 2017, remaining relatively unchanged against the previous year. In general, the refrigerator and freezer import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014, an increase of 11% y-o-y. In that year, the average import prices for refrigerators and freezers attained their peak level of $276 per kg. From 2015 to 2017, the growth in terms of the average import prices for refrigerators and freezers failed to regain its momentum.

Import prices varied noticeably by the country of destination; the country with the highest import price was Australia ($323 per kg), while the UK ($182 per kg) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Japan (+1.6% per year), while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

Product coverage:
• Prodcom 27511110 - Combined refrigerators-freezers, with separate external doors
• Prodcom 27511133 - Household-type refrigerators (including compression-type, e lectrical absorption-type) (excluding built-in)
• Prodcom 27511135 - Compression-type built-in refrigerators
• Prodcom 27511150 - Chest freezers of a capacity . .800 litres
• Prodcom 27511170 - Upright freezers of a capacity . .900 litres

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.



Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in World, split by region and country
• Trade (exports and imports) in World
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2025
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2018
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2018
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

United States
China
Japan
Germany
United Kingdom
France
Brazil
Italy
Russian Federation
India
Canada
Australia
Republic of Korea
Spain
Mexico
Indonesia
Netherlands
Turkey
Saudi Arabia
Switzerland
Sweden
Nigeria
Poland
Belgium
Argentina
Norway
Austria
Thailand
United Arab Emirates
Colombia
Denmark
South Africa
Malaysia
Israel
Singapore
Egypt
Philippines
Finland
Chile
Ireland
Pakistan
Greece
Portugal
Kazakhstan
Algeria
Czech Republic
Qatar
Peru
Romania
Vietnam
LIST OF TABLES
Table 1:
Key Findings In 2018
Table 2:
Market Volume, In Physical Terms, 2007–2018
Table 3:
Market Value, 2007–2018
Table 4:
Per Capita Consumption, By Country, 2015–2018
Table 5:
Production, In Physical Terms, By Country, 2007–2018
Table 6:
Imports, In Physical Terms, By Country, 2007–2018
Table 7:
Imports, In Value Terms, By Country, 2007–2018
Table 8:
Import Prices, By Country Of Destination, 2007–2018
Table 9:
Exports, In Physical Terms, By Country, 2007–2018
Table 10:
Exports, In Value Terms, By Country, 2007–2018
Table 11:
Export Prices, By Country Of Origin, 2007–2018
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2018
Figure 2:
Market Value, 2007–2018
Figure 3:
Consumption, By Country, 2018
Figure 4:
Market Forecast To 2025
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2007–2018
Figure 17:
Production, In Value Terms, 2007–2018
Figure 18:
Production, By Country, 2018
Figure 19:
Production, In Physical Terms, By Country, 2007–2018
Figure 20:
Imports, In Physical Terms, 2007–2018
Figure 21:
Imports, In Value Terms, 2007–2018
Figure 22:
Imports, In Physical Terms, By Country, 2018
Figure 23:
Imports, In Physical Terms, By Country, 2007–2018
Figure 24:
Imports, In Value Terms, By Country, 2007–2018
Figure 25:
Import Prices, By Country, 2007–2018
Figure 26:
Exports, In Physical Terms, 2007–2018
Figure 27:
Exports, In Value Terms, 2007–2018
Figure 28:
Exports, In Physical Terms, By Country, 2018
Figure 29:
Exports, In Physical Terms, By Country, 2007–2018
Figure 30:
Exports, In Value Terms, By Country, 2007–2018
Figure 31:
Export Prices, 2007–2018
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