Updated Jan 11, 2023 16:38

Combined Refrigerator-Freezer Market in Argentina

Market Overview
The Argentinian combined refrigerator-freezer market was finally on the rise to reach $ in , after four years of decline. In general, consumption, however, showed a abrupt shrinkage. Over the period under review, the market hit record highs at $ in 2007; however, from 2008 to , consumption remained at a lower figure.


Consumption
In , consumption of combined refrigerators-freezers was finally on the rise to reach units for the first time since 2017, thus ending a four-year declining trend. Over the period under review, consumption, however, continues to indicate a deep reduction. Combined refrigerator-freezer consumption peaked at units in 2007; however, from 2008 to , consumption remained at a lower figure.

The revenue of the combined refrigerator-freezer market in Argentina skyrocketed to $ in , jumping by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a deep slump. Combined refrigerator-freezer consumption peaked at $ in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.


Market Forecast
Depressed by shrinking demand for combined refrigerator-freezer in Argentina, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to units by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Driven by a growing demand, the share of imports in total supply in Argentina increased significantly over the last fifteen years (from % to %). Combined refrigerator-freezer market in Argentina consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.


Trade Balance
Argentina remains a net importer of combined refrigerator-freezer; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.