China: Combined Refrigerator-Freezer Market 2024

Combined Refrigerator-Freezer Market Size in China

The Chinese combined refrigerator-freezer market soared to $X in 2022, increasing by X% against the previous year. 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 in certain years. Combined refrigerator-freezer consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Combined Refrigerator-Freezer Production in China

In value terms, combined refrigerator-freezer production rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

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Combined Refrigerator-Freezer Exports

Exports from China

After six years of growth, overseas shipments of combined refrigerators-freezers decreased by X% to X units in 2022. In general, exports, however, showed resilient growth. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. The exports peaked at X units in 2021, and then shrank sharply in the following year.

In value terms, combined refrigerator-freezer exports dropped sharply to $X in 2022. Over the period under review, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2021, and then declined rapidly in the following year.

Exports by Country

The United States (X units), Japan (X units) and the UK (X units) were the main destinations of combined refrigerator-freezer exports from China, together comprising X% of total exports. South Korea, Russia, Australia, France, Germany, the Philippines, Italy, South Africa, Spain and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and South Korea ($X) were the largest markets for combined refrigerator-freezer exported from China worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, South Korea, with a CAGR of X%, recorded 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

In 2022, the average combined refrigerator-freezer export price amounted to $X per unit, remaining constant against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

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 South Korea ($X per unit), while the average price for exports to South Africa ($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.

Combined Refrigerator-Freezer Imports

Imports into China

In 2022, overseas purchases of combined refrigerators-freezers increased by X% to X units, rising for the second year in a row after five years of decline. In general, imports saw a slight increase. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, combined refrigerator-freezer imports rose significantly to $X in 2022. Overall, total imports indicated tangible growth 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 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Japan (X units), Germany (X units) and Turkey (X units) were the main suppliers of combined refrigerator-freezer imports to China, together comprising X% of total imports. Italy, Thailand, Serbia, Romania and South Korea lagged somewhat behind, together accounting for a further X%.

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

In value terms, Japan ($X), Germany ($X) and Turkey ($X) were the largest combined refrigerator-freezer suppliers to China, with a combined X% share of total imports. Thailand, Italy, South Korea, Serbia and Romania lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Romania, 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

The average combined refrigerator-freezer import price stood at $X per unit in 2022, growing by X% against the previous year. Overall, import price indicated a slight expansion from 2012 to 2022: its price 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, combined refrigerator-freezer import price increased by X% against 2016 indices. The pace of growth was the most pronounced in 2018 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in years to come.

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 ($X per unit), while the price for Romania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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