U.S.: Market for Household Refrigerators And Home Freezers 2024

Market Size for Household Refrigerators And Home Freezers in the U.S.

In 2023, after three years of growth, there was significant decline in the U.S. market for household refrigerators and home freezers, when its value decreased by X% to $X. Over the period under review, consumption, however, posted significant growth. Over the period under review, the market attained the maximum level at $X in 2022, and then dropped in the following year.

Production of Household Refrigerators And Home Freezers in the U.S.

In value terms, household refrigerator and home freezer production declined slightly to $X in 2023. The total output value increased at an average annual rate of X% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Household refrigerator and home freezer production peaked at $X in 2022, and then fell slightly in the following year.

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Exports of Household Refrigerators And Home Freezers

Exports from the U.S.

In 2023, after three years of growth, there was significant decline in overseas shipments of household refrigerators and home freezers, when their volume decreased by X% to X units. Over the period under review, exports, however, showed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2022, and then fell in the following year.

In value terms, household refrigerator and home freezer exports dropped slightly to $X in 2023. Overall, exports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

Mexico (X units), Canada (X units) and China (X units) were the main destinations of household refrigerator and home freezer exports from the United States, together accounting for X% of total exports. The UK, Germany, the Netherlands, Australia, the Philippines, Costa Rica, Japan and South Korea lagged somewhat behind, together comprising a further X%.

From 2013 to 2023, the biggest increases were recorded for the Philippines (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Mexico ($X) and China ($X) were the largest markets for household refrigerator and home freezer exported from the United States worldwide, together accounting for X% of total exports. The UK, Germany, Australia, the Netherlands, the Philippines, Costa Rica, South Korea and Japan lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, the Philippines, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for household refrigerators and home freezers stood at $X per unit in 2023, with an increase of X% against the previous year. Overall, the export price, however, continues to indicate a precipitous setback. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2023, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to the Philippines ($X per unit) was amongst the lowest.

From 2013 to 2023, 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 a decline.

Imports of Household Refrigerators And Home Freezers

Imports into the U.S.

After three years of growth, supplies from abroad of household refrigerators and home freezers decreased by X% to X units in 2023. Overall, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Imports peaked at X units in 2022, and then declined in the following year.

In value terms, household refrigerator and home freezer imports contracted to $X in 2023. In general, total imports indicated a strong increase from 2013 to 2023: 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 2023 figures, imports increased by X% against 2013 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Imports peaked at $X in 2022, and then declined in the following year.

Imports by Country

In 2023, Mexico (X units) constituted the largest household refrigerator and home freezer supplier to the United States, with a X% share of total imports. Moreover, household refrigerator and home freezer imports from Mexico exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was held by Canada (X units), with a X% share.

From 2013 to 2023, the average annual rate of growth in terms of volume from Mexico amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Canada (X% per year).

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

From 2013 to 2023, the average annual growth rate of value from Mexico stood at 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

The average import price for household refrigerators and home freezers stood at $X per unit in 2023, standing approx. at the previous year. Overall, the import price recorded a sharp reduction. The growth pace was the most rapid in 2019 when the average import price increased by X%. The import price peaked at $X per unit in 2015; however, from 2016 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform