U.S.: Combined Refrigerator-Freezer Market 2024

Combined Refrigerator-Freezer Market Size in the U.S.

In 2022, the U.S. combined refrigerator-freezer market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Combined Refrigerator-Freezer Production in the U.S.

In value terms, combined refrigerator-freezer production fell to $X in 2022. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

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Combined Refrigerator-Freezer Exports

Exports from the U.S.

In 2022, overseas shipments of combined refrigerators-freezers were finally on the rise to reach X units for the first time since 2014, thus ending a seven-year declining trend. Over the period under review, exports, however, continue to indicate a deep downturn. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, combined refrigerator-freezer exports soared to $X in 2022. In general, exports, however, showed a abrupt decline. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X units) was the main destination for combined refrigerator-freezer exports from the United States, accounting for a X% share of total exports. Moreover, combined refrigerator-freezer exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), more than tenfold. The third position in this ranking was held by the UK (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and the UK (X% per year).

In value terms, Canada ($X) remains the key foreign market for combined refrigerators-freezers exports from the United States, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Canada stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and the UK (X% per year).

Export Prices by Country

In 2022, the average combined refrigerator-freezer export price amounted to $X per unit, picking up by X% against the previous year. Overall, the export price showed a prominent expansion. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while the average price for exports to Canada ($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 Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Combined Refrigerator-Freezer Imports

Imports into the U.S.

In 2022, supplies from abroad of combined refrigerators-freezers decreased by X% to X units for the first time since 2011, thus ending a ten-year rising trend. Overall, imports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2021, and then declined in the following year.

In value terms, combined refrigerator-freezer imports expanded slightly to $X in 2022. In general, total imports indicated resilient 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 2012 indices. The growth pace was the most rapid in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Mexico (X units), China (X units) and South Korea (X units) were the main suppliers of combined refrigerator-freezer imports to the United States, together accounting for X% of total imports. These countries were followed by Thailand, which accounted for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

From 2012 to 2022, the average annual rate of growth in terms of value from Mexico amounted to 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 combined refrigerator-freezer import price stood at $X per unit in 2022, increasing by X% against the previous year. In general, the import price, however, recorded a slight decline. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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