Eastern Asia: Refrigerator And Freezer Market 2024

Refrigerator And Freezer Market Size in Eastern Asia

The East Asian refrigerator and freezer market expanded markedly to $X in 2022, with an increase of X% against the previous year. Overall, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Refrigerator And Freezer Production in Eastern Asia

In value terms, refrigerator and freezer production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Refrigerator And Freezer Exports

Exports in Eastern Asia

In 2022, after six years of growth, there was significant decline in shipments abroad of refrigerators and freezers, when their volume decreased by X% to X units. In general, exports, however, continue to indicate a measured increase. The growth pace was the most rapid in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure at X units in 2021, and then declined significantly in the following year.

In value terms, refrigerator and freezer exports declined remarkably to $X in 2022. Total exports indicated a moderate 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, exports increased by X% against 2014 indices. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then shrank markedly in the following year.

Exports by Country

China dominates exports structure, resulting at X units, which was near X% of total exports in 2022. It was distantly followed by South Korea (X units), mixing up a X% share of total exports.

China was also the fastest-growing in terms of the refrigerators and freezers exports, with a CAGR of X% from 2012 to 2022. South Korea (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest refrigerator and freezer supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at X%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, with an increase of X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while China amounted to $X per unit.

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

Refrigerator And Freezer Imports

Imports in Eastern Asia

In 2022, purchases abroad of refrigerators and freezers decreased by X% to X units for the first time since 2015, thus ending a six-year rising trend. Total imports indicated temperate growth from 2012 to 2022: its volume 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 2015 indices. The growth pace was the most rapid in 2019 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2021, and then fell in the following year.

In value terms, refrigerator and freezer imports rose markedly to $X in 2022. Total imports indicated a notable expansion 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 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

In 2022, Japan (X units) was the major importer of refrigerators and freezers, achieving X% of total imports. South Korea (X units) took the second position in the ranking, distantly followed by Taiwan (Chinese) (X units), China (X units) and Hong Kong SAR (X units). All these countries together held approx. X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to refrigerator and freezer imports into Japan stood at X%. At the same time, South Korea (X%), Taiwan (Chinese) (X%) and China (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea and Taiwan (Chinese) increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported refrigerators and freezers in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by China, with a X% share.

In Japan, refrigerator and freezer imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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