Report ECOWAS - Refrigerators and Freezers - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Dec 26, 2022

ECOWAS - Refrigerators and Freezers - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Refrigerator And Freezer Market 2022

Refrigerator And Freezer Exports

Exports in ECOWAS

In 2021, shipments abroad of refrigerators and freezers increased by 17% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 47% against the previous year. Over the period under review, the exports reached the maximum at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, refrigerator and freezer exports totaled $X in 2021. In general, exports, however, continue to indicate a noticeable setback. The pace of growth appeared the most rapid in 2020 when exports increased by 32% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Senegal represented the main exporting country with an export of around X units, which accounted for 51% of total exports. It was distantly followed by Togo (X units), Cote d'Ivoire (X units) and Sierra Leone (X units), together generating a 32% share of total exports. The following exporters - Niger (X units), Guinea (X units) and Nigeria (X units) - together made up 11% of total exports.

Senegal experienced a relatively flat trend pattern with regard to volume of exports of refrigerators and freezers. At the same time, Niger (+25.6%), Sierra Leone (+20.3%), Guinea (+19.4%), Togo (+14.5%) and Cote d'Ivoire (+2.1%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +25.6% from 2012-2021. By contrast, Nigeria (-14.5%) illustrated a downward trend over the same period. While the share of Togo (+11 p.p.), Sierra Leone (+5.6 p.p.), Senegal (+3.9 p.p.), Niger (+3.8 p.p.), Guinea (+2.8 p.p.) and Cote d'Ivoire (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Nigeria (-10.2 p.p.) displayed negative dynamics.

In value terms, Senegal ($X) remains the largest refrigerator and freezer supplier in ECOWAS, comprising 54% of total exports. The second position in the ranking was taken by Togo ($X), with a 13% share of total exports. It was followed by Cote d'Ivoire, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value in Senegal stood at -5.4%. In the other countries, the average annual rates were as follows: Togo (+10.0% per year) and Cote d'Ivoire (+4.0% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, declining by -5.1% against the previous year. Over the period under review, the export price showed a pronounced curtailment. The pace of growth was the most pronounced in 2018 when the export price increased by 23%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Niger ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+1.9%), while the other leaders experienced a decline in the export price figures.

Refrigerator And Freezer Imports

Imports in ECOWAS

In 2021, overseas purchases of refrigerators and freezers decreased by -2.9% to X units, falling for the second consecutive year after two years of growth. In general, imports, however, recorded a modest expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 56% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, refrigerator and freezer imports shrank to $X in 2021. Total imports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 45% against the previous year. The level of import peaked at $X in 2020, and then dropped in the following year.

Imports by Country

Nigeria was the largest importer of refrigerators and freezers in ECOWAS, with the volume of imports amounting to X units, which was approx. 46% of total imports in 2021. It was distantly followed by Ghana (X units) and Cote d'Ivoire (X units), together generating a 31% share of total imports. Burkina Faso (X units), Guinea (X units), Togo (X units), Senegal (X units), Liberia (X units), Sierra Leone (X units) and Mali (X units) held a relatively small share of total imports.

Imports into Nigeria decreased at an average annual rate of -1.6% from 2012 to 2021. At the same time, Mali (+21.1%), Burkina Faso (+16.8%), Liberia (+13.0%), Togo (+12.8%), Guinea (+8.7%), Sierra Leone (+8.6%), Cote d'Ivoire (+7.7%) and Ghana (+3.7%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +21.1% from 2012-2021. By contrast, Senegal (-6.7%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (+4.6 p.p.), Ghana (+3.6 p.p.), Burkina Faso (+2.8 p.p.), Togo (+2.1 p.p.) and Guinea (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Senegal (-3.2 p.p.) and Nigeria (-14.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported refrigerators and freezers in ECOWAS, comprising 47% of total imports. The second position in the ranking was held by Ghana ($X), with a 22% share of total imports. It was followed by Cote d'Ivoire, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+6.7% per year) and Cote d'Ivoire (+10.4% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2021, declining by -4.8% against the previous year. Import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, refrigerator and freezer import price decreased by +0.7% against 2019 indices. The pace of growth appeared the most rapid in 2014 when the import price increased by 72%. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Cote d'Ivoire ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for refrigerators and freezers in ECOWAS?
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Nigeria remains the largest refrigerator and freezer consuming country in ECOWAS, comprising approx. 46% of total volume. Moreover, refrigerator and freezer consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Ghana, twofold. Cote d'Ivoire ranked third in terms of total consumption with an 11% share.
What are the leading suppliers of refrigerators and freezers in ECOWAS?
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In value terms, Senegal remains the largest refrigerator and freezer supplier in ECOWAS, comprising 54% of total exports. The second position in the ranking was held by Togo, with a 13% share of total exports. It was followed by Cote d'Ivoire, with a 9.3% share.
What are the leading importers of refrigerators and freezers in ECOWAS?
+
In value terms, Nigeria constitutes the largest market for imported refrigerators and freezers in ECOWAS, comprising 47% of total imports. The second position in the ranking was held by Ghana, with a 22% share of total imports. It was followed by Cote d'Ivoire, with a 12% share.
What is the average export price for refrigerators and freezers in ECOWAS?
+
The export price in ECOWAS stood at $4.8 per unit in 2021, waning by -5.1% against the previous year.
What is the average import price for refrigerators and freezers in ECOWAS?
+
In 2021, the import price in ECOWAS amounted to $4.6 per unit, waning by -4.8% against the previous year.

This report provides an in-depth analysis of the refrigerator and freezer market in ECOWAS. 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
• 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
Country coverage:
• Benin
• Burkina Faso
• Cabo Verde
• Cote d'Ivoire
• Gambia
• Guinea
• Guinea-Bissau
• Liberia
• Mali
• Senegal
• Sierra Leone
• Togo

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in ECOWAS, split by region and country
• Trade (exports and imports) in ECOWAS
• 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
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

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 2030
4. MOST PROMISING PRODUCT

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. PRODUCTION

The Latest Trends and Insights into The Industry

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

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2012–2022
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

• Benin
• Burkina Faso
• Cabo Verde
• Gambia
• Ghana
• Guinea
• Guinea-Bissau
• Liberia
• Mali
• Niger
• Nigeria
• Senegal
• Sierra Leone
• Togo
• Cote d'Ivoire
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption, By Country, 2018–2022
Table 5:
Production, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Physical Terms, By Country, 2012–2022
Table 7:
Imports, In Value Terms, By Country, 2012–2022
Table 8:
Import Prices, By Country Of Destination, 2012–2022
Table 9:
Exports, In Physical Terms, By Country, 2012–2022
Table 10:
Exports, In Value Terms, By Country, 2012–2022
Table 11:
Export Prices, By Country Of Origin, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Consumption, By Country, 2022
Figure 4:
Market Forecast To 2030
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, 2012–2022
Figure 17:
Production, In Value Terms, 2012–2022
Figure 18:
Production, By Country, 2022
Figure 19:
Production, In Physical Terms, By Country, 2012–2022
Figure 20:
Imports, In Physical Terms, 2012–2022
Figure 21:
Imports, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, By Country, 2022
Figure 23:
Imports, In Physical Terms, By Country, 2012–2022
Figure 24:
Imports, In Value Terms, By Country, 2012–2022
Figure 25:
Import Prices, By Country, 2012–2022
Figure 26:
Exports, In Physical Terms, 2012–2022
Figure 27:
Exports, In Value Terms, 2012–2022
Figure 28:
Exports, In Physical Terms, By Country, 2022
Figure 29:
Exports, In Physical Terms, By Country, 2012–2022
Figure 30:
Exports, In Value Terms, By Country, 2012–2022
Figure 31:
Export Prices, 2012–2022
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