Thailand - Refrigerators And Freezers - Market Analysis, Forecast, Size, Trends and Insights
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View PricingThailand's Refrigerator and Freezer Exports Drop 8% to $1.7 Billion in 2023
Thailand Refrigerator and Freezer Exports
In 2023, shipments abroad of refrigerators and freezers decreased by -24.7% to 7.2M units, falling for the second consecutive year after three years of growth. Overall, exports, however, saw a temperate increase. The most prominent rate of growth was recorded in 2020 with an increase of 68%. The exports peaked at 12M units in 2021; however, from 2022 to 2023, the exports remained at a lower figure.
In value terms, refrigerator and freezer exports fell to $1.7B (IndexBox estimates) in 2023. The total export value increased at an average annual rate of +1.2% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 20% against the previous year. The exports peaked at $2B in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.
| COUNTRY | Export Value of Refrigerator and Freezer in Thailand (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| United States | 7.6 | 11.4 | 12.9 | 17.1 | 65.7 | 68.8 | 143 | 294 | 415 | 398 | 525 |
| Japan | 294 | 279 | 234 | 226 | 217 | 207 | 248 | 320 | 316 | 315 | 265 |
| Australia | 114 | 131 | 154 | 161 | 175 | 168 | 155 | 176 | 162 | 169 | 143 |
| Vietnam | 162 | 165 | 203 | 234 | 238 | 239 | 192 | 192 | 158 | 194 | 97.9 |
| Malaysia | 102 | 110 | 106 | 85.6 | 78.6 | 94.8 | 74.0 | 87.4 | 82.9 | 82.2 | 61.5 |
| United Arab Emirates | 71.3 | 72.2 | 65.2 | 69.4 | 66.3 | 44.5 | 48.5 | 48.9 | 80.7 | 74.7 | 51.3 |
| Canada | 8.6 | 11.8 | 12.4 | 11.9 | 17.0 | 14.1 | 25.2 | 41.1 | 54.1 | 48.1 | 47.7 |
| India | 35.1 | 39.4 | 35.8 | 45.9 | 68.2 | 67.9 | 66.7 | 62.0 | 82.7 | 84.4 | 32.3 |
| Others | 761 | 746 | 730 | 715 | 720 | 640 | 567 | 607 | 697 | 527 | 524 |
| Total | 1,556 | 1,566 | 1,553 | 1,566 | 1,645 | 1,544 | 1,519 | 1,828 | 2,048 | 1,892 | 1,748 |
Exports by Country
the United States (2.3M units) was the main destination for refrigerator and freezer exports from Thailand, with a 31% share of total exports. Moreover, refrigerator and freezer exports to the United States exceeded the volume sent to the second major destination, Japan (1.1M units), twofold. The third position in this ranking was held by Vietnam (521K units), with a 7.2% share.
From 2013 to 2023, the average annual growth rate of volume to the United States stood at +57.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-1.2% per year) and Vietnam (-1.4% per year).
In value terms, the largest markets for refrigerator and freezer exported from Thailand were the United States ($525M), Japan ($265M) and Australia ($143M), together accounting for 53% of total exports.
In terms of the main countries of destination, the United States, with a CAGR of +52.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Exports by Type
Household refrigerators and freezers (not combined) (4.4M units) and combined refrigerators-freezers (2.8M units) were the main products of refrigerator and freezer exports from Thailand.
From 2013 to 2023, the biggest increases were recorded for household refrigerators and freezers (not combined) (with a CAGR of +3.3%).
In value terms, household refrigerators and freezers (not combined) ($936M) and combined refrigerators-freezers ($812M) were the most exported types of refrigerators and freezers from Thailand worldwide.
Household refrigerators and freezers (not combined), with a CAGR of +2.2%, saw the highest growth rate of the value of exports, in terms of the main product categories over the period under review.
Export Prices by Country
In 2023, the refrigerator and freezer price stood at $242 per unit (FOB, Thailand), jumping by 23% against the previous year. Over the period under review, the export price, however, recorded a mild decrease. Over the period under review, the average export prices attained the maximum at $331 per unit in 2018; however, from 2019 to 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($379 per unit), while the average price for exports to the Philippines ($177 per unit) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.
This report provides an in-depth analysis of the refrigerator and freezer market in Thailand. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 27511110 - Combined refrigerators-freezers, with separate external doors
- Prodcom 27511133 - Household-type refrigerators (including compression-type, e lectrical absorption-type) (excluding built-in)
- Prodcom 27511135 - Compression-type built-in refrigerators
- Prodcom 27511150 - Chest freezers of a capacity . .800 litres
- Prodcom 27511170 - Upright freezers of a capacity . .900 litres
Country coverage:
- Thailand
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Thailand
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
