Household Refrigerators And Freezers Market Size, Emerging Trends, Growth Rate, Key Vendors Analysis To 2024

Shifting trends towards the energy efficient as well as eco-friendly products will drive household refrigerators and freezers market over the coming eight years. According to Global Market Insights, Inc., “Global household refrigerators & freezers market worth more than USD 59 billion in 2015, is anticipated record a CAGR of 2.7% over the period of 2016 to 2025.” The latest energy efficiency standard demands the new models of refrigerators and freezers to cut their energy consumption by 20% – 25%, which is pushing the manufacturers to spend heavily in R&D to develop the high-efficiency refrigerators meeting the energy standards. The active partaking of the manufacturers along with the high demand from the consumers for the advanced refrigerators will enhance the household refrigerators & freezers industry outlook over the coming timeframe.

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On the basis of product, French door bottom freezers accounted around 25% of the overall volume, increasing demand for technically advanced products accompanied with user friendly interface and comfortable positioning for opening and closing doors will support the demand. Side-by-side refrigerators in household refrigerators and freezers market are further anticipated to showcase a growth at a CAGR of 4% in the forecast timeframe this growth is credited to growing consumptions of frozen food products in urban areas.

Several key players in household refrigerators and freezers market have shifted their focus towards development and deployment of premium energy efficient and environmentally friendly products. These premium products are gaining popularity among the upper-middle and middle class segment. Adding to this, rise in disposable income has further contributed to boost the industry growth as consumers are able to afford premium and high-end products.

The implementation of the new generation features such as smartphone connectivity and automated temperature adjustability in the refrigerators and freezers will surge the product demand. Gradually changing lifestyle in the rural areas along with increasing disposable income of the consumers will build a lucrative roadmap for household refrigerators and freezers market trends over the period of 2016 to 2025. In addition, heavy investment by government in electrification across the rural areas will further boost the household refrigerators and freezers market trends significantly.

Geographically, U.S. contributed majorly towards the North America household refrigerators and freezers market share in 2015 and will grow noticeably over the coming timeframe, owing to the growing demand for eco-friendly products.

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Europe household refrigerators and freezers industry is predicted to exhibit a lucrative growth rate over the coming eight years. The attributing factors towards the market growth are surging need of energy efficient products and rising disposable income.

The market players are focusing on technological developments to enhance the product portfolio in terms of better efficiency, as it is a major value add for the consumers leveraging a decent energy and cost saving for them. Whirlpool, Electrolux, Haier, Samsung, and L.G. are some of the major giants in the household refrigerators and freezers market. Other notable key players include Panasonic, Frigidaire, Bosch, and General Electric.

Major Key Points from Table of Content:

Chapter 3       Household Refrigerators and Freezers Market Insights

3.1     Household refrigerators and freezers industry segmentation

3.2     Industry size and forecast, 2010 – 2025

3.3     Industry ecosystem analysis

3.3.1     Vendor matrix

3.3.2     Distribution channel analysis

3.3.3     Product cost structure analysis

3.3.4     Profit margin indicators

3.3.5     Customer insights

3.4     Technology & innovation landscape

3.5     Regulatory landscape

3.6     Household refrigerators and freezers industry impact forces

3.6.1     Growth drivers

3.6.1.1     Growing energy efficiency initiatives

3.6.1.2     Increasing purchasing power

3.6.1.3     Technological advancements in product development

3.6.2     Industry pitfalls and challenges

3.6.2.1     Significant untapped population base

3.7     Growth potential analysis

3.8     Porter’s analysis

3.9     Company market share analysis, 2015

3.9.1     Strategy dashboard

3.9.2     Market concentration

3.10      PESTEL analysis

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