Asia: Combined Refrigerator-Freezer Market 2024

Combined Refrigerator-Freezer Market Size in Asia

The Asian combined refrigerator-freezer market rose significantly to $X in 2022, picking up by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Combined Refrigerator-Freezer Production in Asia

In value terms, combined refrigerator-freezer production rose to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Combined Refrigerator-Freezer Exports

Exports in Asia

In 2022, overseas shipments of combined refrigerators-freezers decreased by X% to X units for the first time since 2015, thus ending a six-year rising trend. Over the period under review, exports, however, recorded a strong expansion. The growth pace was the most rapid in 2020 with an increase of X%. The volume of export peaked at X units in 2021, and then contracted rapidly in the following year.

In value terms, combined refrigerator-freezer exports shrank sharply to $X in 2022. Total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of $X, and then dropped notably in the following year.

Exports by Country

In 2022, China (X units) represented the major exporter of combined refrigerators-freezers, comprising X% of total exports. Thailand (X units) ranks second in terms of the total exports with an X% share, followed by South Korea (X%) and Turkey (X%). Indonesia (X units) took a little share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, Thailand (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. Indonesia and South Korea experienced a relatively flat trend pattern. China (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while Indonesia, Turkey and South Korea saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

In value terms, the largest combined refrigerator-freezer supplying countries in Asia were China ($X), South Korea ($X) and Turkey ($X), with a combined X% share of total exports.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, growing by X% against the previous year. Overall, the export price, however, showed a mild descent. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced a decline in the export price figures.

Combined Refrigerator-Freezer Imports

Imports in Asia

In 2022, after six years of growth, there was significant decline in overseas purchases of combined refrigerators-freezers, when their volume decreased by X% to X units. Total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X units in 2021, and then declined in the following year.

In value terms, combined refrigerator-freezer imports reduced slightly to $X in 2022. Total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2013 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then dropped slightly in the following year.

Imports by Country

In 2022, Japan (X units), distantly followed by the Philippines (X units), South Korea (X units), Vietnam (X units), Saudi Arabia (X units), Iraq (X units) and Malaysia (X units) were the major importers of combined refrigerators-freezers, together achieving X% of total imports. The following importers - India (X units), Kazakhstan (X units), the United Arab Emirates (X units), Thailand (X units), Indonesia (X units) and China (X units) - together made up X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported combined refrigerators-freezers in Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Japan stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Vietnam (X% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, increasing by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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