Global Household Refrigerator And Freezers Market, By Freezer Location (Freezer On Top, Freezer On Bottom And Freezer Less), Refrigerator Door Type (Single Door, Double Door, Side By Side Door And French Door), Cooling Technology (Compressor Refrigerators, Absorption Refrigerators, Solar Refrigerators, Acoustic Refrigerators, Magnetic Refrigerators, And Thermal Mass Refrigerators), Deployment Type (Free-Standing Refrigerators And Built Into Kitchen Refrigerators), Storage Capacity (Small Storage Capacity Refrigerators (<100L), Medium Storage Capacity Refrigerators (100L-200L), Large Storage Capacity Refrigerators (200L-300L) And Others (>300L)), Type Of Model (Single Compressor Based Model And Dual Compressor Based Model), Distribution Channel Specialty Retailers, Department Stores, Mass Retailers, Hypermarkets, Supermarkets, Discount Stores And Online) - Industry Trends and Forecast to 2023 to 2030.
Household Refrigerator and Freezers Market Analysis and Size
The essential factors contributing to the growth of the global household refrigerator and freezers market in the forecast period of 2023 to 2030 include increasing awareness of energy conservation and advances in refrigerator and freezer technology. Kitchen remodeling and upgrades also acts as an opportunity for the household refrigerator and freezers market growth.
Data Bridge Market Research analyses that the global household refrigerator and freezers market which was USD 81.90 billion in 2022, is expected to reach USD 123.74 billion by 2030, growing at a CAGR of 4.9% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
Household Refrigerator and Freezers Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Freezer Location (Freezer On Top, Freezer On Bottom And Freezer Less), Refrigerator Door Type (Single Door, Double Door, Side By Side Door And French Door), Cooling Technology (Compressor Refrigerators, Absorption Refrigerators, Solar Refrigerators, Acoustic Refrigerators, Magnetic Refrigerators, And Thermal Mass Refrigerators), Deployment Type (Free-Standing Refrigerators And Built Into Kitchen Refrigerators), Storage Capacity (Small Storage Capacity Refrigerators (<100L), Medium Storage Capacity Refrigerators (100L-200L), Large Storage Capacity Refrigerators (200L-300L) And Others (>300L)), Type Of Model (Single Compressor Based Model And Dual Compressor Based Model), Distribution Channel (Specialty Retailers, Department Stores, Mass Retailers, Hypermarkets, Supermarkets, Discount Stores And Online)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Haier Inc. (China), Dacor, Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), Whirlpool Corporation (U.S.), Robert Bosch GmbH (Germany), Electrolux (Sweden), LG Electronics (South Korea), Godrej.com (India), Frigidaire (U.S.), Videocon Industries Limited (India), Liebherr-International Deutschland GmbH (Germany), BSH Hausgeräte GmbH (Germany), Aucma (China), THERMADOR (U.S.), SHARP CORPORATION (Japan), HK Appliances GmbH (Germany), Dover Corporation (U.S.), Panasonic Corporation (Japan), GENERAL ELECTRIC COMPANY (U.S), Hitachi, Ltd. (Japan)
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Market Opportunities
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Market Definition
Household refrigerators and freezers are common appliances used for food storage and preservation in residential settings. Refrigerators are designed to store perishable food items at low temperatures to slow down spoilage and bacterial growth. They help keep food fresh for longer periods. Freezers are designed to freeze and store food items at sub-zero temperatures to preserve them for extended periods. They are used for long-term storage of items such as frozen fruits, vegetables, meat, and prepared meals.
Global Household Refrigerator and Freezers Market Dynamics
Drivers
- Increasing Awareness of Energy Conservation
Increasing awareness of energy conservation and environmental concerns has driven the demand for energy-efficient appliances, including refrigerators and freezers. Consumers look for appliances with energy star certification and lower energy consumption to reduce electricity bills and minimize their carbon footprint. Compliance with these regulations is a primary driver for companies to invest in household refrigerator and freezers equipment.
- Advances in Refrigerator and Freezer Technology
Advances in refrigerator and freezer technology have led to the development of smart appliances with features such as touch screens, Wi-Fi connectivity, and smartphone apps for remote control and monitoring. Consumers are drawn to these conveniences and are willing to invest in technologically advanced models.
Opportunities
- Kitchen Remodeling and Upgrades
Home remodeling and kitchen upgrades contribute to increased demand for new refrigerators and freezers. As consumers invest in updating their homes, they often opt for modern and stylish appliances that match their kitchen aesthetics. As a result, the need for household refrigerator and freezers equipment has grown.
- Expansion in E-Commerce and Online Shopping
The growth of online grocery shopping and home delivery services has boosted the need for additional storage capacity in households. Consumers purchase more frozen and refrigerated goods, driving demand for larger and more efficient appliances.
Restraints/Challenges
- Long Replacement Cycles
Refrigerators and freezers typically have long replacement cycles, often lasting 10 years or more. This extended replacement cycle can limit frequent purchases, making it challenging for manufacturers to stimulate demand. Modern refrigerators and freezers are built to be durable and reliable. While this is a positive feature for consumers, it can reduce the frequency of replacements and impact sales for manufacturers.
- Cost Constraints
Consumers are often price-sensitive when it comes to purchasing appliances. High-quality, energy-efficient refrigerators and freezers can be expensive, which may deter some buyers, especially in price-sensitive segments of the market. The household appliance market is highly competitive, with numerous manufacturers and brands vying for market share. Intense competition can lead to pricing pressures and reduced profit margins for manufacturers.
This household refrigerator and freezers market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Household refrigerator and freezers market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In December 2022, Haier, the global leader in home appliances and consumer electronics and the world’s number 1 brand in major appliances for 12 consecutive years*, has secured the recognition of ‘Appliance of the Year’ in the Refrigerator category by Bureau of Energy Efficiency’s National Energy Conservation Awards – 2021 for its refrigerator model HRD 1922
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Household Refrigerator and Freezers Market Scope
The global household refrigerator and freezers market is segmented on the basis of freezer location, refrigerator door type, cooling technology, deployment type, storage capacity, type of model and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Freezer Location
- Freezer On Top
- Freezer On Bottom
- Freezer Less
Refrigerator Door Type
- Single Door
- Double Door
- Side By Side Door
- French Door
Cooling Technology
- Compressor Refrigerators
- Absorption Refrigerators
- Solar Refrigerators
- Acoustic Refrigerators
- Magnetic Refrigerators
- Thermal Mass Refrigerators
Deployment Type
- Free-Standing Refrigerators
- Built Into Kitchen Refrigerators
Storage Capacity
- Small Storage Capacity Refrigerators (<100L)
- Medium Storage Capacity Refrigerators (100L-200L)
- Large Storage Capacity Refrigerators (200L-300L)
- Others (>300L)
Type of Model
- Single Compressor Based Model
- Dual Compressor Based Model
Distribution Channel
- Specialty Retailers
- Department Stores
- Mass Retailers
- Hypermarkets
- Supermarkets
- Discount Stores
- Online
Global Household Refrigerator and Freezers Market Regional Analysis/Insights
The global household refrigerator and freezers market is analysed and market size insights and trends are provided by freezer location, refrigerator door type, cooling technology, deployment type, storage capacity, type of model and distribution channel as referenced above.
The countries covered in the global household refrigerator and freezers market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
North America is expected to dominate the global household refrigerator and freezers market owing to the increased demand for energy efficient household refrigerators.
Asia-Pacific will however, register the highest CAGR for the forecast period owing to the presence of major market players in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Household Refrigerator and Freezers Market Share Analysis
The global household refrigerator and freezers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the company’s focus related to household refrigerator and freezers market.
Some of the major players operating in the global household refrigerator and freezers market are:
- Haier Inc. (China)
- Dacor, Inc. (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Whirlpool Corporation (U.S.)
- Robert Bosch GmbH (Germany)
- Electrolux (Sweden)
- LG Electronics (South Korea)
- Godrej.com (India)
- Frigidaire (U.S.)
- Videocon Industries Limited (India)
- Liebherr-International Deutschland GmbH (Germany)
- BSH Hausgeräte GmbH (Germany)
- Aucma (China)
- THERMADOR (U.S.)
- SHARP CORPORATION (Japan)
- HK Appliances GmbH (Germany)
- Dover Corporation (U.S.)
- Panasonic Corporation (Japan)
- GENERAL ELECTRIC COMPANY (U.S.)
- Hitachi, Ltd. (Japan)
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