With the promotion of factors such as energy conservation, emissions reduction, consumer upgrades, technological innovation, connectivity, and the Internet of Things, the trend of upgrading the product structure in the refrigerator market has become more apparent. The research and development innovation of refrigerator products has always been at the forefront of the home appliance industry.

       In recent years, the scale of imports and exports of refrigerators in China has shown a fluctuating trend with relatively small overall changes. According to customs data, China's refrigerator exports have been declining since 2022, with a total export value of 9.717 billion USD and a total export quantity of 60.295 million units, representing a year-on-year decrease of 18.42%.

       As of the present, from January to June 2023, the total export value amounted to 4.889 billion USD, indicating an 11.12% decrease compared to the same period. However, the total export quantity was 34.333 million units, showing a slight increase of 0.13% during the same period. It can be observed that the profit from refrigerator exports has reduced due to the downward trend in export value, despite the slight improvement in export quantity.

Notes：Annual Summary

      Translation: Precise preservation, large capacity, intelligence, energy-saving and low-carbon, modularization, and home aesthetics have transformed refrigerators from simple cooling products in the early days into versatile products that can meet consumers' various needs in different scenarios. Driven by consumer upgrades and other factors, the high-end market still demonstrates significant growth potential. Among them, markets such as the United States, the United Kingdom, Japan, Germany, France, Italy, Canada, and the Netherlands account for over 50% of the market share.

Notes：Market share

        Translation: Refrigerators have become indispensable household appliances in modern family life. However, with the development of augmented reality and virtual reality technologies, future refrigerators may offer more interactive experiences and entertainment features, making shopping, cooking, and other processes more enjoyable and convenient. Nevertheless, technology is constantly evolving, and the future prospects of refrigerator development may also be influenced by many other factors. Based on current trends and potential technological advancements, the refrigerator industry may experience positive impacts in the future, enabling refrigerators to continue playing a significant role in home life.

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