Which Country Imports the Most Refrigerators and Freezers in the World?

IndexBox has just published a new report "World: Refrigerators And Freezers - Market Report. Analysis and Forecast to 2025". Here is a summary of the report's key findings.

In 2016, the amount of refrigerator imported worldwide totaled 12M tonnes, ascending by 3% against the previous year figure. The total import volume increased at an average annual rate of +1.2% over the period from 2007 to 2016- the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2010, an increase of 7% year-to-year. Global refrigerator import peaked in 2016, and are likely to see steady growth in the near future.

In value terms, refrigerator imports amounted to $41B in 2016. The total import value increased at an average annual rate of +1.2% from 2007 to 2016- the trend pattern remained relatively stable, with only minor fluctuations being observed over the period under review. Over the period under review, global refrigerator imports reached its maximum level of $43B in 2014- however, from 2015 to 2016, it stood at a somewhat lower level.

Top Refrigerator Importing Countries in the World

1. USA (8.7 billion USD)

2. Germany (2.7 billion USD)

3. France (1.9 billion USD)

4. United Kingdom (1.6 billion USD)

5. Italy (1.1 billion USD)

6. China (0.9 billion USD)

7. Mexico (0.9 billion USD)

8. Poland (0.6 billion USD)

9. Singapore (0.5 billion USD)

10. South Korea (0.4 billion USD)

11. Turkey (0.4 billion USD)

12. Thailand (0.3 billion USD)

Refrigerator Imports By Country

The imports of the three major importers of refrigerator, namely China, the U.S., and Mexico, represented more than third of total import. Italy (565K tonnes) took a 5% share (based on tonnes) of global refrigerator imports, which put it in second place, following South Korea (5%). Turkey (479K tonnes), Thailand (455K tonnes), Germany (336K tonnes), France (324K tonnes), the UK (299K tonnes), Poland (273K tonnes), and Singapore (202K tonnes) took the slight share of total imports.

From 2007 to 2016, the most notable growth rate of refrigerator imports, among the main importing countries, was attained by the U.S. (+5.0% per year), while the other global leaders experienced more modest paces of growth.

In value terms, the U.S. ($8.7B) constitutes the largest market for imported refrigerator worldwide, making up 21% of global imports. The second position in the ranking was occupied by Germany ($2.7B), with the share of 7% of global imports. It was followed by France, with the share of 5%.

From 2007 to 2016, the average annual rate of growth in terms of value of refrigerator imports in the U.S. expanded at +5.9%. The remaining importing countries recorded the following average annual rates: Germany (+1.9% per year) and France (-1.1% per year).

Refrigerator Import Prices By Country

In 2016, the average import price for refrigerator amounted to $3,522 per tonne, shrinking by -2.8% against the previous year. Overall, refrigerator import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011, when import increased by 8% y-o-y. Over the period under review, average refrigerator import price attained its maximum level of $3,815 per tonne in 2014- however, from 2015 to 2016, it stood at a somewhat lower level.

There were significant differences in the average import prices amongst major importing countries. In 2016, the country with the highest import prices was Germany ($8,053 per tonne), while China ($550 per tonne) was among the lowest.

From 2007 to 2016, the most notable growth rate of refrigerator import prices was attained by South Korea (+9.8% per year), while the other global leaders experienced more modest paces of growth.

Do you want to know more about global refrigerator market? Get the latest trends and insight from our report. It includes a wide range of statistics on

• refrigerator market share
• refrigerator prices
• refrigerator industry
• refrigerator sales
• refrigerator import
• refrigerator export
• refrigerator market forecast
• refrigerator price forecast
• key refrigerator producers

All data provided in this article covers the following product: HS Code 8418 - Refrigerators, freezers and other refrigerating or freezing equipment, electric or other- heat pumps other than air conditioning machines of heading no. 8415.

Source: World: Refrigerators And Freezers - Market Report. Analysis and Forecast to 2025