Global Household Refrigerators And Freezers Market Overview, Growth Challenges Survey & Forecast to 2025
Category: #Technology  By Ronak Bora  Date: 2021-03-23
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Global Household Refrigerators And Freezers Market Overview, Growth Challenges Survey & Forecast to 2025

Global household refrigerators and freezers market will reach over USD 78.22 billion by 2025. The surge in disposable income at hand has accelerated the purchasing power of consumers, especially across the developing nations, which will boost the demand for the product in the region. With the rapid increase in urbanization, there has been a spurt in double-income families in these urban areas.

The presence of various global competitors providing new technologies that lower energy consumption per year will drive household refrigerators and freezers market trends in the coming years. The U.S. Department of Energy has taken several initiatives regarding the growth of energy efficiency which has resulted in the consumers being able to save significantly on electric bills.

A major rise in consumer awareness concerning energy consumption has been observed, along with the benefits and the differences in cost with the introduction of energy efficiency labels. This has greatly encouraged consumers to keep a track of energy use for home appliances.

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Surge in the number of double income families in urban areas have led to increasing spending on advanced household appliances. Availability of surplus disposable income could drive the demand and purchase of latest refrigerators and freezer models. Efficiency in the overall manufacturing process on account of growing automation as well as globalization has allowed companies to decrease the costs such appliances.

Refrigerator and freezer manufacturers are shifting their focus towards rural economies as it comprises of a larger untapped population base. The demand and usefulness of refrigerators mainly depends on several factors such as food storing, preserving and packaging. Government across rural areas are focusing on introducing key initiatives to boost electrification. Such initiatives could support the demand for refrigeration solutions across households.

Meanwhile, in developing countries, direct cool or single door fridges are projected to witness high sale in the coming years. Adoption of advanced manufacturing technologies and globalization may help offer affordable refrigerators and freezers to all income levels.

List of the Key Companies that are Operating in the Household Refrigerators And Freezers Market. They are as follows:

AB Electrolux, Aucma Company Ltd., Dacor Inc, Frigidaire, (Avago Technologies), General Electric, Robert Bosch, Samsung, Whirlpool Corporation, Haier Incorporation, LG Corporation, Panasonic Corporation

Over the years, competitors have put their focus on developing high-end premium products. For instance, in 2020, Whirlpool India launched the country’s most advanced bottom mount refrigerator called Intellifresh Pro, incorporated with advanced Adaptive Intelligence technology.

The demand for higher capacity frost-free fridges has considerably grow in the past few years. The sale of high capacity side-be-side fridges is expected to grow significantly amongst the upper middle class due to growing number of families having double income that prefer a wide storage space in refrigerators. Additionally, enhanced life cycle, maintenance free compressors and easy financing options may propel the household refrigerators and freezers market share over the forecast period.

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Table Of Content:

Chapter 4       Household Refrigerators and Freezers Market Insights, By Product

4.1     Global household refrigerators and freezers market share by product, 2015 & 2025

4.2     Top Mounted Freezer Refrigerators

4.2.1     Top mounted freezer refrigerators market estimates and forecast, 2010 – 2025

4.2.2     Top mounted freezer refrigerators market estimates and forecast by region, 2010 – 2025

4.3     Bottom Mounted Refrigerators

4.3.1     Bottom mounted refrigerators market estimates and forecast, 2010 – 2025

4.3.2     Bottom mounted refrigerators refrigerators market estimates and forecast by region, 2010 – 2025

4.4     Side-By-Side Refrigerators

4.4.1     Side-by-side refrigerators market estimates and forecast, 2010 – 2025

4.4.2     Side-by-side refrigerators market estimates and forecast by region, 2010 – 2025

4.5     French Door Bottom Freezer Refrigerators

4.5.1     French Door Bottom Freezer refrigerators market estimates and forecast, 2010 – 2025

4.5.2     French door bottom freezer refrigerators market estimates and forecast by region, 2010 – 2025

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About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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