Refrigerator and Freezer Market in America

2018-08-07 13:52:50 alice 23

The refrigerator and freezer market in the United States has shown a growth trend for five consecutive years. In 2017, the U.S. economy maintained its upward trend. Trump also expressed high satisfaction with U.S. economic growth. However, due to the high amount of U.S. market, the consumption of refrigerator freezers is also only It is a slight increase, up 2.3% year-on-year.

The refrigerator and freezer market in Canada fell for four consecutive years, with a slight drop of 0.6% in 2017. The main reason was that banks tightened the mortgage regulations, the real estate market continued to cool down, and Canadian households’ debt burden continued to rise, and consumers’ ability to pay became lower. The Canadian market brands include Whirlpool, Electrolux, Mabe, and Samsung, among which Whirlpool has the largest market share.

After the Mexican refrigerator and freezer market increased by 7 percentage points in 2014, the growth rate narrowed year after year, mainly because Mexico’s economic growth continued to slow down, and the growth rate weakened as a result. However, driven by credit growth, refrigerators consumption in refrigerators continued to increase by 2% year-on-year in 2017. The Mexican market is relatively concentrated and the local brand Mabe dominates the market.

The Brazilian refrigerator and freezer market stopped declining in 2017, due to the rebound in Brazil's economy. With the slight decline in the unemployment rate, the control of inflation and the decline in interest rates, consumer confidence rebounded, making the refrigerator freezer market grow slightly in size. 1.6%. The dominant market in the Brazilian market is Whirlpool (including Consul and Brastemp), which has nearly half the market share, followed by Electrolux.

The import of refrigerators in the Americas mainly comes from China and Europe. At the same time, the Americas are also the second largest area for refrigerators in China. In 2017, China's refrigerator freezer exported a total of 12.642 million units to the Americas, of which 8.414 million units were exported to the United States, accounting for 66.6% of the total exports to the Americas. China's refrigerator freezer exports to the Americas mainly include Midea, Omagh, Galanz, Wellcome, and Haier. The five companies account for approximately 55% of the total exports to the Americas.

Although trade between China and the United States continued in 2018, fortunately, the export of refrigerator freezers was not affected. The export of refrigerators to the United States in the first quarter was unchanged from the same period of last year, but the export structure changed, the export volume of refrigerators declined, and the export volume of refrigerators increased. This was mainly due to the increase in costs caused by the increase in raw material and transportation costs last year, and the impact of exchange rate fluctuations. This year, major refrigerator manufacturers have increased the export price of refrigerators, which is about 10% higher than the same period of last year.