GCC: Refrigerator And Freezer Market 2024

Refrigerator And Freezer Market Size in GCC

In 2022, the GCC refrigerator and freezer market increased by X% to $X, rising for the third consecutive year after two years of decline. Overall, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2013; afterwards, it flattened through to 2022.

Refrigerator And Freezer Production in GCC

In value terms, refrigerator and freezer production dropped to $X in 2022 estimated in export price. Overall, production recorded a deep reduction. The pace of growth was the most pronounced in 2015 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Refrigerator And Freezer Exports

Exports in GCC

In 2022, exports of refrigerators and freezers in GCC soared to X units, increasing by X% against the previous year. Overall, exports recorded strong growth. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, refrigerator and freezer exports soared to $X in 2022. In general, exports recorded a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates dominates exports structure, finishing at X units, which was approx. X% of total exports in 2022. Oman (X units) held a little share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the refrigerators and freezers exports, with a CAGR of X% from 2012 to 2022. At the same time, Oman (X%) displayed positive paces of growth. While the share of the United Arab Emirates (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest refrigerator and freezer supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Oman ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to X%.

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per unit), while the United Arab Emirates totaled $X per unit.

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

Refrigerator And Freezer Imports

Imports in GCC

In 2022, purchases abroad of refrigerators and freezers increased by X% to X units, rising for the fourth consecutive year after three years of decline. Total imports indicated strong 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 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, refrigerator and freezer imports stood at $X in 2022. Total imports indicated a pronounced 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 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

The United Arab Emirates (X units) and Saudi Arabia (X units) prevails in imports structure, together making up X% of total imports. It was distantly followed by Qatar (X units), comprising a X% share of total imports. The following importers - Kuwait (X units), Oman (X units) and Bahrain (X units) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the United Arab Emirates (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Among the main importing countries, the United Arab Emirates, 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 import price in GCC stood at $X per unit in 2022, which is down by X% against the previous year. Overall, the import price continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Oman ($X per unit) and Kuwait ($X per unit), while the United Arab Emirates ($X per unit) and Saudi Arabia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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