Hong Kong SAR, China: Non-Combined Refrigerator-Freezer Market 2024

Non-Combined Refrigerator-Freezer Market Size in Hong Kong SAR, China

The Hong Kong non-combined refrigerator-freezer market shrank dramatically to $X in 2022, waning by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a remarkable increase. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Non-Combined Refrigerator-Freezer Exports

Exports from Hong Kong SAR, China

Non-combined refrigerator-freezer exports from Hong Kong SAR reduced remarkably to X units in 2022, declining by X% against the previous year's figure. In general, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2018 when exports increased by X%. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, non-combined refrigerator-freezer exports reduced sharply to $X in 2022. Over the period under review, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Macao SAR (X units), the United States (X units) and China (X units) were the main destinations of non-combined refrigerator-freezer exports from Hong Kong SAR, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, Macao SAR ($X) remains the key foreign market for household refrigerators and freezers (not combined) exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by China ($X), with an X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

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

Export Prices by Country

In 2022, the average non-combined refrigerator-freezer export price amounted to $X per unit, surging by X% against the previous year. Overall, export price indicated measured growth 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, non-combined refrigerator-freezer export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to continue growth in the near future.

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 Macao SAR ($X per unit), while the average price for exports to the United States ($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 Tanzania (X%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Combined Refrigerator-Freezer Imports

Imports into Hong Kong SAR, China

In 2022, approx. X units of household refrigerators and freezers (not combined) were imported into Hong Kong SAR; falling by X% on the previous year. Over the period under review, imports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, non-combined refrigerator-freezer imports contracted rapidly to $X in 2022. Overall, imports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Imports peaked at $X in 2021, and then dropped rapidly in the following year.

Imports by Country

In 2022, Thailand (X units) constituted the largest non-combined refrigerator-freezer supplier to Hong Kong SAR, with a X% share of total imports. Moreover, non-combined refrigerator-freezer imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X units), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Germany (X% per year).

In value terms, Thailand ($X) constituted the largest supplier of household refrigerators and freezers (not combined) to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Thailand stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the average non-combined refrigerator-freezer import price amounted to $X per unit, picking up by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of X% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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