French Door Refrigerator - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020-2029

The French Door Refrigerator Market size is estimated at USD 21.05 billion in 2024, and is expected to reach USD 27.55 billion by 2029, growing at a CAGR of 5.53% during the forecast period (2024-2029).

Over the last two years sales volume and revenue of refrigerator segments of global manufacturers have observed a continuous increase resulting in rising sales of the French Door refrigerator segment as well. Asia, Europe, and North America exist as the regions occupying more than half of the share in the global retail volume of refrigerator appliances leading to global manufacturers strengthening their supply chains in these regions to raise market sales and revenue. With the existing larger average household size in Asia, a French door refrigerator provides with wider dimension that allows users to store large amounts of food items.

The availability of French door refrigerators in varying dimensions, advanced freezing technology, and attractive designs have led to these refrigerators gaining popularity across the globe. In developed as well as developing economies, manufacturers are targeting their customers with cost-effective products integrated with the IoT (Internet of Things) technology raising the demand for French door refrigerators. Post covid, expenditure on major household appliances observed a continuous increase with rising pent-up demand and increasing household income signalling a positive market for sales of the French door refrigerator.

Post Covid with a change in consumer behaviour, retailers and wholesalers are collaborating with online E-commerce platforms to increase the sales of their French door refrigerators and manufacturers such as Samsung, Panasonic, Hisense, LG, and others are offering their refrigerator products through direct websites channels resulting in consumers choosing among a large segment of french door refrigerator at a given point of time. In addition, rising online revenue share of the global refrigerator market by more than 22% is expected to drive the sales of French door refrigerators over the coming period.

French Door Refrigerator Market Trends

Rising Sales In Asia

The demand and popularity of French door refrigerators in Asian countries such as China and India are observing a continuous increase with a rise in expenditure on kitchen electrical and household appliances by the users. Asia exists with the largest revenue share in the global refrigerator market and market revenue of more than USD 70 Billion with a growth rate of around 9% per year. Rising household income and an increase in the standard of living in emerging markets of Asia are resulting in consumers making their preference towards high-end refrigerator products creating growth opportunities for the sale of French door refrigerators. In the Indian market refrigerator manufacturers LG, Samsung, Whirlpool, and Godrej occupy more than 80% of the refrigerator market creating a form of oligopoly among the manufacturers. In addition, another major Asian country, China with significant production and sales of refrigerators is dominated by firms of Haier, Media, HiSense, and Homa. These existing regional variations of the firm's domination in the Asian market are providing opportunities for global French door refrigerator manufacturers to increase their supply chain in the region.

Increasing Online Sale

Online sales of refrigerators are observing a continuous increase resulting in a rising number of people ordering French door refrigerators through online channels only. In the global market online revenue share of refrigerators is observing a continuous increase rising to more than 22% of the sales revenue last year. Among online sales E-Commerce and direct company websites are observing a continuous increase in searches for refrigerators and French door refrigerators as well leading to increasing sales opportunities for the manufacturer and retailers/wholesalers. The French door refrigerators are equipped with smart features resulting in a rising consumer attraction towards these products instead of buying traditional refrigerators. The availability of a large variety of French door refrigerators in online sales channels and flexible payment options of EMI options, coupon code discounts, Net banking, and pay-on-delivery are leading to users finding these sales channels more preferable than spending their time in different showrooms. These changing trends in favor of online sales are creating emerging opportunities for global manufacturers.

French Door Refrigerator Industry Overview

The French door refrigerator market is partially fragmented with an increasing number of refrigerator manufacturers launching their French door refrigerator products in the market. With technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets. Some of the existing manufacturers of French door refrigerators are Haier, Whirlpool Corporation, Electrolux, Bosch and LG.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

This product will be delivered within 2 business days.