Singapore - Refrigerators And Freezers - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRefrigerator and Freezer Price in Singapore - 2022
Contents:
- Refrigerator and Freezer Price in Singapore (CIF) - 2022
- Refrigerator and Freezer Price in Singapore (FOB) - 2022
- Refrigerator and Freezer Imports in Singapore
- Refrigerator and Freezer Exports in Singapore
Refrigerator and Freezer Price in Singapore (CIF) - 2022
The average refrigerator and freezer import price stood at $385 per unit in 2022, which is down by -14.8% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2021 an increase of 25%. As a result, import price attained the peak level of $452 per unit, and then shrank in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($1,346 per unit), while the price for China ($241 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Refrigerator and Freezer Price in Singapore (FOB) - 2022
The average refrigerator and freezer export price stood at $516 per unit in 2022, waning by -13.5% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refrigerator and freezer export price increased by +54.0% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 67%. As a result, the export price attained the peak level of $596 per unit, and then fell in the following year.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was India ($2,173 per unit), while the average price for exports to the United Arab Emirates ($115 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 Thailand (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.
Refrigerator and Freezer Imports in Singapore
In 2022, refrigerator and freezer imports into Singapore rose markedly to 266K units, picking up by 7.9% compared with 2021 figures. The total import volume increased at an average annual rate of +3.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, refrigerator and freezer imports fell to $103M in 2022. The total import value increased at an average annual rate of +7.4% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 33%. As a result, imports reached the peak of $112M, and then fell in the following year.
Import of Refrigerator and Freezer in Singapore (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 20.4 | 21.4 | 31.5 | 31.2 | 15.2% |
Thailand | 32.1 | 31.0 | 30.3 | 27.6 | -4.9% |
Japan | 7.9 | 10.1 | 17.8 | 15.2 | 24.4% |
Vietnam | 3.5 | 2.9 | 4.2 | 5.6 | 17.0% |
Indonesia | 2.9 | 3.7 | 5.2 | 4.4 | 14.9% |
South Korea | 1.8 | 1.4 | 3.1 | 3.3 | 22.4% |
Turkey | 1.8 | 1.4 | 1.3 | 1.8 | 0.0% |
Others | 12.7 | 12.3 | 18.3 | 13.7 | 2.6% |
Total | 82.9 | 84.2 | 112 | 103 | 7.5% |
Top Suppliers of Refrigerator and Freezer to Singapore in 2022:
- China (129.3K units)
- Thailand (75.9K units)
- Vietnam (15.8K units)
- Japan (11.3K units)
- Indonesia (8.6K units)
- South Korea (4.3K units)
- Turkey (4.0K units)
Refrigerator and Freezer Exports in Singapore
In 2022, overseas shipments of refrigerators and freezers decreased by -13.6% to 40K units, falling for the second year in a row after two years of growth. In general, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2020 when exports increased by 2.1% against the previous year. As a result, the exports attained the peak of 68K units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, refrigerator and freezer exports fell dramatically to $21M in 2022. Over the period under review, exports showed a noticeable reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 13% against the previous year. As a result, the exports attained the peak of $28M, and then dropped dramatically in the following year.
Export of Refrigerator and Freezer in Singapore (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
India | 2,678 | 2,916 | 2,809 | 4,092 | 15.2% |
Malaysia | 656 | 644 | 797 | 2,023 | 45.6% |
Vietnam | 1,116 | 1,155 | 2,370 | 1,305 | 5.4% |
Thailand | 437 | 1,576 | 1,320 | 1,070 | 34.8% |
United Arab Emirates | 122 | 135 | 287 | 812 | 88.1% |
Bangladesh | 999 | 835 | 1,378 | 723 | -10.2% |
Philippines | 455 | 581 | 1,878 | 673 | 13.9% |
Maldives | 670 | 447 | 645 | 656 | -0.7% |
Cambodia | 376 | 643 | 296 | 620 | 18.1% |
Congo | 71.0 | 169 | 240 | 291 | 60.0% |
Burkina Faso | 166 | 217 | 126 | 186 | 3.9% |
Equatorial Guinea | 129 | 184 | 51.0 | 174 | 10.5% |
Cameroon | 97.6 | 257 | 137 | 130 | 10.0% |
Others | 15,825 | 14,621 | 15,172 | 7,809 | -21.0% |
Total | 23,795 | 24,379 | 27,505 | 20,564 | -4.7% |
Top Export Markets for Refrigerator and Freezer from Singapore in 2022:
- United Arab Emirates (7.1K units)
- Malaysia (7.0K units)
- Maldives (3.0K units)
- Vietnam (2.6K units)
- India (1.9K units)
- Cambodia (1.5K units)
- Bangladesh (1.3K units)
- Congo (1.2K units)
- Cameroon (0.9K units)
- Equatorial Guinea (0.8K units)
- Burkina Faso (0.8K units)
- Philippines (0.7K units)
- Thailand (0.7K units)
This report provides an in-depth analysis of the refrigerator and freezer market in Singapore. 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:
- Singapore
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Singapore
- 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
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