Kuwait: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Kuwait

After two years of growth, the Kuwaiti refrigerator or freezer market decreased by X% to $X in 2022. Over the period under review, consumption, however, continues to indicate significant growth. As a result, consumption reached the peak level of $X, and then reduced slightly in the following year.

Refrigerator Or Freezer Production in Kuwait

In value terms, refrigerator or freezer production amounted to less than $X in 2022 estimated in export price. In general, production, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Refrigerator Or Freezer Exports

Exports from Kuwait

In 2022, after two years of decline, there was significant decline in overseas shipments of furniture designed to receive refrigerating or freezing equipment, when their volume decreased by X% to X units. Over the period under review, exports showed a abrupt contraction. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the peak figure at X units in 2021, and then fell rapidly in the following year.

In value terms, refrigerator or freezer exports reduced dramatically to $X in 2022. Overall, exports, however, showed slight growth. The pace of growth was the most pronounced in 2017 with an increase of X%. The exports peaked at $X in 2021, and then declined rapidly in the following year.

Exports by Country

The United Arab Emirates (X units), Saudi Arabia (X units) and Qatar (X units) were the main destinations of refrigerator or freezer exports from Kuwait, with a combined X% share of total exports.

From 2014 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for furniture designed to receive refrigerating or freezing equipment exports from Kuwait, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports. It was followed by Qatar, with a X% share.

From 2014 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Qatar (X% per year).

Export Prices by Country

The average refrigerator or freezer export price stood at $X per unit in 2022, remaining constant against the previous year. Overall, the export price recorded buoyant growth. The growth pace was the most rapid in 2016 when the average export price increased by X%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Saudi Arabia ($X per unit) was amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Or Freezer Imports

Imports into Kuwait

In 2022, the amount of furniture designed to receive refrigerating or freezing equipment imported into Kuwait surged to X units, rising by X% against the previous year. Over the period under review, imports posted a prominent increase. The pace of growth was the most pronounced in 2017 when imports increased by X%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, refrigerator or freezer imports surged to $X in 2022. Overall, imports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2017 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Italy (X units), China (X units) and Egypt (X units) were the main suppliers of refrigerator or freezer imports to Kuwait, with a combined X% share of total imports.

From 2013 to 2022, the biggest increases were recorded for Egypt (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refrigerator or freezer suppliers to Kuwait were Italy ($X), the United States ($X) and China ($X), together accounting for X% of total imports.

In terms of the main suppliers, China, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average refrigerator or freezer import price amounted to $X per unit, increasing by X% against the previous year. Over the last nine-year period, it increased at an average annual rate of X%. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Egypt ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform