GCC: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in GCC

The GCC refrigerator or freezer market dropped modestly to $X in 2022, which is down by X% against the previous year. Overall, consumption, however, enjoyed a prominent increase. As a result, consumption reached the peak level of $X, and then shrank slightly in the following year.

Refrigerator Or Freezer Production in GCC

In value terms, refrigerator or freezer production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a noticeable reduction. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Refrigerator Or Freezer Exports

Exports in GCC

In 2022, shipments abroad of furniture designed to receive refrigerating or freezing equipment increased by X% to X units, rising for the second consecutive year after two years of decline. Overall, exports saw resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, refrigerator or freezer exports skyrocketed to $X in 2022. In general, exports showed a prominent expansion. The level of export peaked at $X in 2014; afterwards, it flattened through to 2022.

Exports by Country

The United Arab Emirates prevails in exports structure, resulting at X units, which was near X% of total exports in 2022. Saudi Arabia (X units) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the furniture designed to receive refrigerating or freezing equipment exports, with a CAGR of X% from 2012 to 2022. Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates increased by X percentage points.

In value terms, the United Arab Emirates ($X) remains the largest refrigerator or freezer supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.

In the United Arab Emirates, refrigerator or freezer exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, jumping by X% against the previous year. Overall, the export price posted a temperate increase. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Saudi Arabia amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%).

Refrigerator Or Freezer Imports

Imports in GCC

In 2022, imports of furniture designed to receive refrigerating or freezing equipment in GCC contracted markedly to X units, which is down by X% on the year before. Over the period under review, imports, however, enjoyed a measured increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, refrigerator or freezer imports soared to $X in 2022. In general, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units) represented the main importer of furniture designed to receive refrigerating or freezing equipment, constituting X% of total imports. Kuwait (X units) ranks second in terms of the total imports with a X% share, followed by Oman (X%) and Bahrain (X%).

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%) and Bahrain (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Oman (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Kuwait, the United Arab Emirates and Bahrain increased by X, X and X percentage points, respectively.

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Oman ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Kuwait, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, increasing by X% against the previous year. In general, the import price recorded a buoyant increase. The most prominent rate of growth was recorded in 2020 when the import price increased by X%. As a result, import price attained the peak level of $X per unit. From 2021 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform