U.S.: Refrigerator And Freezer Market 2023

Refrigerator And Freezer Market Size in the U.S.

In 2022, the U.S. refrigerator and freezer market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Refrigerator and freezer consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Refrigerator And Freezer Production in the U.S.

In value terms, refrigerator and freezer production fell to $X in 2022. Over the period under review, production recorded a perceptible descent. The pace of growth appeared the most rapid in 2021 with an increase of X%. Refrigerator and freezer production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Refrigerator And Freezer Exports

Exports from the U.S.

In 2022, approx. X units of refrigerators and freezers were exported from the United States; remaining relatively unchanged against the previous year. In general, exports recorded a pronounced slump. The growth pace was the most rapid in 2014 when exports increased by X%. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, refrigerator and freezer exports amounted to $X in 2022. Over the period under review, exports saw a perceptible downturn. The pace of growth was the most pronounced in 2021 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X units) was the main destination for refrigerator and freezer exports from the United States, accounting for a X% share of total exports. Moreover, refrigerator and freezer exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), fourfold. Belgium (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Canada stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Belgium (X% per year).

In value terms, Canada ($X) remains the key foreign market for refrigerators and freezers exports from the United States, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with an X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and China (X% per year).

Export Prices by Country

The average refrigerator and freezer export price stood at $X per unit in 2022, surging by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to Germany ($X 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 South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator And Freezer Imports

Imports into the U.S.

In 2022, after two years of growth, there was significant decline in purchases abroad of refrigerators and freezers, when their volume decreased by X% to X units. Over the period under review, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports attained the peak figure at X units in 2021, and then reduced in the following year.

In value terms, refrigerator and freezer imports rose rapidly to $X in 2022. Overall, total imports indicated a resilient 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, imports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X units), Mexico (X units) and South Korea (X units) were the main suppliers of refrigerator and freezer imports to the United States, together accounting for X% of total imports. These countries were followed by Thailand, which accounted for a further X%.

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

In value terms, Mexico ($X) constituted the largest supplier of refrigerators and freezers to the United States, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by China, with an X% share.

From 2012 to 2022, the average annual growth rate of value from Mexico totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average refrigerator and freezer import price amounted to $X per unit, rising by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked at $X per unit in 2013; however, from 2014 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 South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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