Household Refrigerators and Freezers Market Estimated to Generate a Revenue of US$ 124.6 Bn By 2030

According to Precedence Research, the household refrigerators and freezers market was valued at approximately USD 90.4 billion in 2021, and it is expected to witness a revenue of USD 124.6 billion in 2030, with a CAGR of 3.6% from 2021 to 2030.

The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030. The report offers exclusive insights to help companies make informed decisions to sustain growth through the assessment period.

The global household refrigerators and freezers market is driven by certain factors such as growing consumer expenditure on home improvement goods, increasing demand for the smart technological home appliances, growing popularity of energy efficient appliances and machines, rising disposable income, and need for storing various food items for a longer time. The various discounts and promotional activities by the supermarkets and hypermarkets and online groceries that occasionally offers fruits, vegetables, and other items on huge discounts propels the customers to make a bulk purchase. Therefore, there is an increased need for storing these fruits and vegetables arises that boosts the demand for the household refrigerators and freezers.

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Scope of the Household Refrigerators and Freezers Market

Report Highlights Details
Market Size USD 124.6 Billion by 2030
Growth Rate CAGR of 3.6% From 2021 to 2030
Largest Market North America
Fastest Growing Market Asia Pacific
Base Year 2021
Forecast Period 2021 to 2030
By Distribution Channel
  • Supermarkets/Hypermarkets
  • Specialty Stores
  • E-commerce
  • Others

Factors, such as a rise in disposable incomes, the growing trend of nuclear families, and the increasing consumption of frozen food, are driving the market growth. Integration of state-of-the-art features with the help of disruptive digital technologies, such as the Internet of Things (IoT), digital temperature control system, and Artificial Intelligence (AI), has enabled the global market to grow exponentially over the last decade.

The strong competition among leading manufacturers has resulted in heavy R&D investments to develop technologically advanced and size-compatible refrigerators.

For instance, in 2021, LG Electronics introduced the InstaView line of door-in-door refrigerators featuring a large glass panel that enables the household consumers to gaze inside the refrigerator without having to open it. This mechanism ensures that cold air inside does not escape and the food is fresh for a longer time.
Furthermore, rising environmental concerns and energy efficiency initiatives are compelling manufacturers to follow regulations set by the agencies, such as the U.S. Environmental Protection Agency (EPA), which focuses on the reduction of Greenhouse Gas (GHG) emissions. An increasing number of consumers are preferring energy-efficient household refrigerators and freezers that consume less power per unit and reduce electricity bills and conserve energy in the long run.

While the COVID-19 pandemic has reduced the frequency of purchases made from traditional, brick-and-mortar retail shops, the demand for online refrigerators and freezers delivery has considerably increased.

Temporary shutdowns of production plants, limited accessibility to parts & components, constrained labor supply, and additional supply chain-related issues were some of the major challenges faced by most of the market players during the initial months of 2021.

However, the end of lockdown is anticipated to bring substantially higher buyer traffic, particularly through e-commerce channels.

Key insights from the report include:

  • Rising demand for a comfortable position for closing and opening doors along with technically advanced flexible storage options would drive industry demand.
  • U.S. household refrigerators and freezers market share represented the majority of the North American demand in 2021. Increasing disposable income and requirements for energy efficient products is likely to generate considerable sales in the region.
  • Key competitors in household refrigerators and freezers industry include Robert Bosch GmbH, Dacor, Inc., Philips Electronics, Whirlpool Corporation, Samsung, AB Electrolux, LG lectronics, Dover Corporation, Godrej Industries Ltd., Liebherr Group, Panasonic Corporation
  • The industry participants are focusing on expanded product portfolio emphasizing on quality and more features. U.S. companies are shifting towards Africa and Asia Pacific to target quicker growth in these potential regions.

Competitive Intelligence

The report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation and so on.

Some of the prominent players in the global household refrigerators and freezers market are listed as below:

  • Robert Bosch GmbH
  • Dacor, Inc.
  • Philips Electronics
  • Whirlpool Corporation
  • Samsung
  • AB Electrolux
  • LG lectronics
  • Dover Corporation
  • Godrej Industries Ltd.
  • Liebherr Group
  • Panasonic Corporation

Segments Covered in the Report

By Door Type

  • Double Door
  • French Door
  • Top Mounted
  • Side by Side
  • Single Door

By Structure

  • Built-in
  • Freestanding

By Distribution Channel

  • Supermarkets/Hypermarkets
  • Specialty Stores
  • E-commerce
  • Others

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Household Refrigerators and Freezers Market 

5.1. COVID-19 Landscape: Household Refrigerators and Freezers Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Household Refrigerators and Freezers Market, By Door

8.1. Household Refrigerators and Freezers Market, by Door Type, 2021-2030

8.1.1. Double Door

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. French Door

8.1.2.1. Market Revenue and Forecast (2019-2030)

8.1.3. Top Mounted

8.1.3.1. Market Revenue and Forecast (2019-2030)

8.1.4. Side by Side

8.1.4.1. Market Revenue and Forecast (2019-2030)

8.1.5. Single Door

8.1.5.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Household Refrigerators and Freezers Market, By Structure

9.1. Household Refrigerators and Freezers Market, by Structure, 2021-2030

9.1.1. Built-in

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Freestanding

9.1.2.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Household Refrigerators and Freezers Market, By Distribution Channel 

10.1. Household Refrigerators and Freezers Market, by Distribution Channel, 2021-2030

10.1.1. Supermarkets/Hypermarkets

10.1.1.1. Market Revenue and Forecast (2019-2030)

10.1.2. Specialty Stores

10.1.2.1. Market Revenue and Forecast (2019-2030)

10.1.3. E-commerce

10.1.3.1. Market Revenue and Forecast (2019-2030)

10.1.4. Others

10.1.4.1. Market Revenue and Forecast (2019-2030)

Chapter 11. Global Household Refrigerators and Freezers Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Forecast, by Door (2019-2030)

11.1.2. Market Revenue and Forecast, by Structure (2019-2030)

11.1.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.1.4. U.S.

11.1.4.1. Market Revenue and Forecast, by Door (2019-2030)

11.1.4.2. Market Revenue and Forecast, by Structure (2019-2030)

11.1.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Forecast, by Door (2019-2030)

11.1.5.2. Market Revenue and Forecast, by Structure (2019-2030)

11.1.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.2. Europe

11.2.1. Market Revenue and Forecast, by Door (2019-2030)

11.2.2. Market Revenue and Forecast, by Structure (2019-2030)

11.2.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.2.4. UK

11.2.4.1. Market Revenue and Forecast, by Door (2019-2030)

11.2.4.2. Market Revenue and Forecast, by Structure (2019-2030)

11.2.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.2.5. Germany

11.2.5.1. Market Revenue and Forecast, by Door (2019-2030)

11.2.5.2. Market Revenue and Forecast, by Structure (2019-2030)

11.2.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.2.6. France

11.2.6.1. Market Revenue and Forecast, by Door (2019-2030)

11.2.6.2. Market Revenue and Forecast, by Structure (2019-2030)

11.2.6.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Forecast, by Door (2019-2030)

11.2.7.2. Market Revenue and Forecast, by Structure (2019-2030)

11.2.7.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.3. APAC

11.3.1. Market Revenue and Forecast, by Door (2019-2030)

11.3.2. Market Revenue and Forecast, by Structure (2019-2030)

11.3.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.3.4. India

11.3.4.1. Market Revenue and Forecast, by Door (2019-2030)

11.3.4.2. Market Revenue and Forecast, by Structure (2019-2030)

11.3.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.3.5. China

11.3.5.1. Market Revenue and Forecast, by Door (2019-2030)

11.3.5.2. Market Revenue and Forecast, by Structure (2019-2030)

11.3.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.3.6. Japan

11.3.6.1. Market Revenue and Forecast, by Door (2019-2030)

11.3.6.2. Market Revenue and Forecast, by Structure (2019-2030)

11.3.6.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Forecast, by Door (2019-2030)

11.3.7.2. Market Revenue and Forecast, by Structure (2019-2030)

11.3.7.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.4. MEA

11.4.1. Market Revenue and Forecast, by Door (2019-2030)

11.4.2. Market Revenue and Forecast, by Structure (2019-2030)

11.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.4.4. GCC

11.4.4.1. Market Revenue and Forecast, by Door (2019-2030)

11.4.4.2. Market Revenue and Forecast, by Structure (2019-2030)

11.4.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.4.5. North Africa

11.4.5.1. Market Revenue and Forecast, by Door (2019-2030)

11.4.5.2. Market Revenue and Forecast, by Structure (2019-2030)

11.4.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.4.6. South Africa

11.4.6.1. Market Revenue and Forecast, by Door (2019-2030)

11.4.6.2. Market Revenue and Forecast, by Structure (2019-2030)

11.4.6.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Forecast, by Door (2019-2030)

11.4.7.2. Market Revenue and Forecast, by Structure (2019-2030)

11.4.7.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.5. Latin America

11.5.1. Market Revenue and Forecast, by Door (2019-2030)

11.5.2. Market Revenue and Forecast, by Structure (2019-2030)

11.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.5.4. Brazil

11.5.4.1. Market Revenue and Forecast, by Door (2019-2030)

11.5.4.2. Market Revenue and Forecast, by Structure (2019-2030)

11.5.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Forecast, by Door (2019-2030)

11.5.5.2. Market Revenue and Forecast, by Structure (2019-2030)

11.5.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2030)

Chapter 12. Company Profiles

12.1. Robert Bosch GmbH

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Dacor, Inc.

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. Philips Electronics

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. Whirlpool Corporation

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Samsung

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. AB Electrolux

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. LG lectronics

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. Dover Corporation

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. Godrej Industries Ltd.

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Liebherr Group

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

12.11. Panasonic Corporation

12.11.1. Company Overview

12.11.2. Product Offerings

12.11.3. Financial Performance

12.11.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

Why should you invest in this report?

If you are aiming to enter the global household refrigerators and freezers market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for household refrigerators and freezers are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable. 

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