Republic of Korea - Combined Refrigerators-Freezers - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCombined Refrigerator-Freezer Price in South Korea - 2022
Contents:
- Combined Refrigerator-Freezer Price in South Korea (FOB) - 2022
- Combined Refrigerator-Freezer Price in South Korea (CIF) - 2022
- Combined Refrigerator-Freezer Exports in South Korea
- Combined Refrigerator-Freezer Imports in South Korea
Combined Refrigerator-Freezer Price in South Korea (FOB) - 2022
In 2022, the average combined refrigerator-freezer export price amounted to $369 per unit, growing by 31% against the previous year. Over the period under review, the export price, however, recorded a perceptible decrease. The pace of growth was the most pronounced in 2018 an increase of 36%. Over the period under review, the average export prices attained the maximum at $502 per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($369 per unit), while the average price for exports to Canada ($369 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 Australia (-3.9%), while the prices for the other major destinations experienced a decline.
Combined Refrigerator-Freezer Price in South Korea (CIF) - 2022
The average combined refrigerator-freezer import price stood at $399 per unit in 2022, picking up by 11% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Thailand ($399 per unit) and China ($399 per unit), while the price for Vietnam ($399 per unit) and Indonesia ($399 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Combined Refrigerator-Freezer Exports in South Korea
In 2022, shipments abroad of combined refrigerators-freezers decreased by -39.2% to 5.9M units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 59% against the previous year. As a result, the exports attained the peak of 9.7M units, and then declined notably in the following year.
In value terms, combined refrigerator-freezer exports shrank significantly to $2.2B in 2022. Overall, total exports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +13.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +47.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 47%. As a result, the exports reached the peak of $2.7B, and then shrank markedly in the following year.
| Export of Combined Refrigerator-Freezer in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,172 | 1,552 | 2,338 | 1,818 | 15.8% |
| Canada | 34.8 | 59.7 | 107 | 121 | 51.5% |
| Australia | 50.5 | 53.6 | 68.7 | 53.5 | 1.9% |
| Others | 223 | 198 | 223 | 191 | -5.0% |
| Total | 1,481 | 1,864 | 2,736 | 2,183 | 13.8% |
Top Export Markets for Combined Refrigerator-Freezer from South Korea in 2022:
- United States (4.9M units)
- Canada (0.3M units)
- Australia (0.1M units)
Combined Refrigerator-Freezer Imports in South Korea
In 2022, overseas purchases of combined refrigerators-freezers decreased by -13.9% to 950K units, falling for the second consecutive year after two years of growth. Overall, imports showed a pronounced contraction. The most prominent rate of growth was recorded in 2020 with an increase of 16% against the previous year. As a result, imports attained the peak of 1.2M units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, combined refrigerator-freezer imports shrank slightly to $379M in 2022. The total import value increased at an average annual rate of +5.7% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 25% against the previous year. As a result, imports attained the peak of $400M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Combined Refrigerator-Freezer in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 210 | 296 | 291 | 282 | 10.3% |
| Thailand | 34.1 | 32.8 | 43.5 | 37.6 | 3.3% |
| Indonesia | 53.0 | 50.4 | 44.0 | 32.4 | -15.1% |
| Vietnam | 6.8 | 9.5 | 7.5 | 17.3 | 36.5% |
| Poland | 11.8 | 6.4 | 6.0 | 2.3 | -42.0% |
| Others | 5.0 | 5.2 | 6.0 | 7.4 | 14.0% |
| Total | 321 | 400 | 398 | 379 | 5.7% |
Top Suppliers of Combined Refrigerator-Freezer to South Korea in 2022:
- China (706.5K units)
- Thailand (94.2K units)
- Indonesia (81.1K units)
- Vietnam (43.4K units)
- Poland (5.8K units)
This report provides an in-depth analysis of the combined refrigerator-freezer market in Republic of Korea. 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 2030.
Product coverage:
- Prodcom 27511110 - Combined refrigerators-freezers, with separate external doors
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- 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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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