India: Refrigerator And Freezer Market 2024

Refrigerator And Freezer Market Size in India

In 2022, the Indian refrigerator and freezer market increased by X% to $X, rising for the second year in a row after three years of decline. Overall, consumption, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2017 with an increase of X%. Refrigerator and freezer consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Refrigerator And Freezer Production in India

In value terms, refrigerator and freezer production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Refrigerator And Freezer Exports

Exports from India

In 2022, the amount of refrigerators and freezers exported from India dropped significantly to X units, waning by X% against the previous year's figure. Over the period under review, exports recorded a slight decrease. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, refrigerator and freezer exports contracted to $X in 2022. In general, exports recorded a pronounced setback. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Nepal (X units) was the main destination for refrigerator and freezer exports from India, with a X% share of total exports. Moreover, refrigerator and freezer exports to Nepal exceeded the volume sent to the second major destination, the United Arab Emirates (X units), fivefold. The third position in this ranking was held by Morocco (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Nepal stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Morocco (X% per year).

In value terms, Nepal ($X) remains the key foreign market for refrigerators and freezers exports from India, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Morocco, with a X% share.

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

Export Prices by Country

In 2022, the average refrigerator and freezer export price amounted to $X per unit, surging by X% against the previous year. Over the period under review, the export price, however, recorded a slight contraction. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

Refrigerator And Freezer Imports

Imports into India

In 2022, the amount of refrigerators and freezers imported into India totaled X units, leveling off at the previous year. Over the period under review, imports saw a prominent expansion. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, refrigerator and freezer imports fell modestly to $X in 2022. Overall, imports recorded prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then contracted slightly in the following year.

Imports by Country

China (X units), Indonesia (X units) and Thailand (X units) were the main suppliers of refrigerator and freezer imports to India, with a combined X% share of total imports. Bangladesh, South Korea and Turkey lagged somewhat behind, together accounting for a further X%.

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

In value terms, China ($X), Thailand ($X) and Indonesia ($X) constituted the largest refrigerator and freezer suppliers to India, together accounting for X% of total imports. South Korea, Bangladesh and Turkey lagged somewhat behind, together comprising a further X%.

Bangladesh, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average refrigerator and freezer import price amounted to $X per unit, with a decrease of X% against the previous year. In general, the import price saw a perceptible reduction. The pace of growth was the most pronounced in 2014 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average 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 South Korea ($X per unit), while the price for Bangladesh ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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