This Refrigerators market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.
The refrigerators market size has grown strongly in recent years. It will grow from $51 billion in 2024 to $54.15 billion in 2025 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to growing demand for frozen and chilled food products, changing lifestyles and food habits, marketing and advertising, urbanization and smaller living spaces.
The refrigerators market size is expected to see strong growth in the next few years. It will grow to $67.11 billion in 2029 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to energy efficiency and sustainability, smart home integration,health and wellness, customization and aesthetics, aging population. Major trends in the forecast period include french door refrigerators, wi-fi-connected refrigerators, energy-efficient compressors, sustainable materials, specialty refrigerators.
The refrigerators market is experiencing growth driven by the increasing consumption of processed food products, including frozen meat, vegetables, and dairy items. This trend is further fueled by a shift in consumers' dietary habits. Busy lifestyles have led consumers to rely on processed foods and prepared meals, which necessitate the use of refrigerators for storage. Globally, the processed food industry is valued at $2 trillion, signifying a significant market for processed food products, and this is expected to contribute to the growth of the refrigerators market.
The refrigerators market is also expected to benefit from the increasing purchasing power of consumers. Consumer purchasing power is determined by factors such as income and prevailing price levels, influencing the demand for durable goods like refrigerators. For instance, according to the US Bureau of Economic Analysis in August 2022, personal income experienced a monthly growth of 0.2%, with a $47 billion increase, while consumer spending saw a 0.1% rise, representing a $23.7 billion increase. This increase in disposable income, coupled with a 6.3% rise in the Personal Consumption Expenditures (PCE) price index for July compared to the previous year, is driving the growth of the refrigerators market.
Manufacturers in the refrigerators market are actively incorporating advanced technologies such as IoT and embedded sensors to enhance the overall functionality of their products. This includes introducing innovative human-machine interface designs and developing refrigerators with the capability to automatically recognize the type and weight of the food stored, allowing for temperature adjustments and monitoring as needed.
Leading companies in the refrigerators market are focusing on developing innovative energy-efficient solutions, such as high-efficiency AI inverter compressors, to optimize energy usage and improve cooling performance. These advanced compressors dynamically adjust power consumption to maintain optimal cooling while minimizing energy use. For example, in May 2024, Samsung Electronics, a South Korea-based home appliance company, introduced three new refrigerators equipped with next-generation AI inverter compressors. Designed for smarter living in Indian homes, these refrigerators, including an 809L 4-Door Flex French Door Bespoke Family Hub model and two 650L convertible models, feature low noise levels of under 35 dB/A. The AI-powered compressors adapt to temperature changes, generating optimal cooling while reducing energy consumption based on factors such as door activity.
In October 2024, Haier Electronics Group Co., Ltd., a China-based manufacturer of small electrical appliances, acquired Carrier Global Corporation for $775 million. This acquisition aims to enhance Haier’s position in the global commercial refrigeration market. It expands Haier’s product portfolio and enables the company to offer comprehensive refrigeration solutions to clients in the industrial, food retail, and cold storage sectors. Carrier Global Corporation, a US-based company, specializes in advanced refrigeration solutions, including a variety of refrigerators.
A refrigerator is an electrical appliance designed to keep food at low temperatures. It is used to inhibit the growth of bacteria and prevent spoilage, thereby extending the shelf life of perishable items. By creating a controlled environment, refrigerators help preserve the quality and safety of food for everyday use.
The primary categories of refrigerators include single-door, double-door, French-door, and other variations. A single-door refrigerator typically consists of a single outer door, with the freezer compartment accessible only through this main door. These refrigerators come in a range of sizes, starting from as small as 50 liters and going up to 250 liters or more. Freezers can be positioned at the top, bottom, or be entirely freezer-less, catering to various household, commercial, and industrial needs. Refrigerators are distributed through specialty retailers, department stores, mass retailers (including hypermarkets and supermarkets), discount stores, and online channels.
The refrigerators market research report is one of a series of new reports that provides refrigerators market statistics, including refrigerators industry global market size, regional shares, competitors with a refrigerators market share, detailed refrigerators market segments, market trends, and opportunities, and any further data you may need to thrive in the refrigerators industry. This refrigerators market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Major companies operating in the refrigerators market include Electrolux AB, Haier Group Corporation, LG Electronics Inc., Samsung Electronics Co. Ltd., Whirlpool Corporation, Hitachi Ltd., Bosch (Robert Bosch GmbH), Hisense Group Co. Ltd., Sharp Corporation, Siemens AG, TCL Corporation, Kinghome Electrical Appliance Co. Ltd., Midea Group Co. Ltd., Panasonic Corporation, Meiling (Guangdong Meiling Group Co. Ltd.), DIQUA, Frestec (Frestech Group), Casarte, Homa Appliances Co. Ltd., LittleSwan (Qingdao Haier Washing Machine Co. Ltd.), Konka Group Co. Ltd., Toshiba Corporation, Arçelik (Arçelik A.Ş.), Godrej Group, Mitsubishi Electric Corporation, General Electric Appliances (GE Appliances), Galanz Group Co. Ltd., Liebherr Group, Viking Range LLC, Sub-Zero Group Inc., Thermador (Bosch Thermotechnology), Dacor Inc., Fisher & Paykel Appliances Ltd., Gaggenau Hausgeräte GmbH, Jenn-Air Corporation, KitchenAid Inc., Maytag Corporation, Kenmore Appliances, Amana (Amana Corporation), Frigidaire International, Hotpoint Appliances, Indesit Company S.p.A., Smeg S.p.A.
Asia-Pacific was the largest region in the refrigerators market in 2024. Western Europe was the second-largest region in the refrigerators market. The regions covered in the refrigerators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the refrigerators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The refrigerators market consists of sales of double-door refrigerators, french-door refrigerators, and single-door refrigerators. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The refrigerators market size has grown strongly in recent years. It will grow from $51 billion in 2024 to $54.15 billion in 2025 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to growing demand for frozen and chilled food products, changing lifestyles and food habits, marketing and advertising, urbanization and smaller living spaces.
The refrigerators market size is expected to see strong growth in the next few years. It will grow to $67.11 billion in 2029 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to energy efficiency and sustainability, smart home integration,health and wellness, customization and aesthetics, aging population. Major trends in the forecast period include french door refrigerators, wi-fi-connected refrigerators, energy-efficient compressors, sustainable materials, specialty refrigerators.
The refrigerators market is experiencing growth driven by the increasing consumption of processed food products, including frozen meat, vegetables, and dairy items. This trend is further fueled by a shift in consumers' dietary habits. Busy lifestyles have led consumers to rely on processed foods and prepared meals, which necessitate the use of refrigerators for storage. Globally, the processed food industry is valued at $2 trillion, signifying a significant market for processed food products, and this is expected to contribute to the growth of the refrigerators market.
The refrigerators market is also expected to benefit from the increasing purchasing power of consumers. Consumer purchasing power is determined by factors such as income and prevailing price levels, influencing the demand for durable goods like refrigerators. For instance, according to the US Bureau of Economic Analysis in August 2022, personal income experienced a monthly growth of 0.2%, with a $47 billion increase, while consumer spending saw a 0.1% rise, representing a $23.7 billion increase. This increase in disposable income, coupled with a 6.3% rise in the Personal Consumption Expenditures (PCE) price index for July compared to the previous year, is driving the growth of the refrigerators market.
Manufacturers in the refrigerators market are actively incorporating advanced technologies such as IoT and embedded sensors to enhance the overall functionality of their products. This includes introducing innovative human-machine interface designs and developing refrigerators with the capability to automatically recognize the type and weight of the food stored, allowing for temperature adjustments and monitoring as needed.
Leading companies in the refrigerators market are focusing on developing innovative energy-efficient solutions, such as high-efficiency AI inverter compressors, to optimize energy usage and improve cooling performance. These advanced compressors dynamically adjust power consumption to maintain optimal cooling while minimizing energy use. For example, in May 2024, Samsung Electronics, a South Korea-based home appliance company, introduced three new refrigerators equipped with next-generation AI inverter compressors. Designed for smarter living in Indian homes, these refrigerators, including an 809L 4-Door Flex French Door Bespoke Family Hub model and two 650L convertible models, feature low noise levels of under 35 dB/A. The AI-powered compressors adapt to temperature changes, generating optimal cooling while reducing energy consumption based on factors such as door activity.
In October 2024, Haier Electronics Group Co., Ltd., a China-based manufacturer of small electrical appliances, acquired Carrier Global Corporation for $775 million. This acquisition aims to enhance Haier’s position in the global commercial refrigeration market. It expands Haier’s product portfolio and enables the company to offer comprehensive refrigeration solutions to clients in the industrial, food retail, and cold storage sectors. Carrier Global Corporation, a US-based company, specializes in advanced refrigeration solutions, including a variety of refrigerators.
A refrigerator is an electrical appliance designed to keep food at low temperatures. It is used to inhibit the growth of bacteria and prevent spoilage, thereby extending the shelf life of perishable items. By creating a controlled environment, refrigerators help preserve the quality and safety of food for everyday use.
The primary categories of refrigerators include single-door, double-door, French-door, and other variations. A single-door refrigerator typically consists of a single outer door, with the freezer compartment accessible only through this main door. These refrigerators come in a range of sizes, starting from as small as 50 liters and going up to 250 liters or more. Freezers can be positioned at the top, bottom, or be entirely freezer-less, catering to various household, commercial, and industrial needs. Refrigerators are distributed through specialty retailers, department stores, mass retailers (including hypermarkets and supermarkets), discount stores, and online channels.
The refrigerators market research report is one of a series of new reports that provides refrigerators market statistics, including refrigerators industry global market size, regional shares, competitors with a refrigerators market share, detailed refrigerators market segments, market trends, and opportunities, and any further data you may need to thrive in the refrigerators industry. This refrigerators market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Major companies operating in the refrigerators market include Electrolux AB, Haier Group Corporation, LG Electronics Inc., Samsung Electronics Co. Ltd., Whirlpool Corporation, Hitachi Ltd., Bosch (Robert Bosch GmbH), Hisense Group Co. Ltd., Sharp Corporation, Siemens AG, TCL Corporation, Kinghome Electrical Appliance Co. Ltd., Midea Group Co. Ltd., Panasonic Corporation, Meiling (Guangdong Meiling Group Co. Ltd.), DIQUA, Frestec (Frestech Group), Casarte, Homa Appliances Co. Ltd., LittleSwan (Qingdao Haier Washing Machine Co. Ltd.), Konka Group Co. Ltd., Toshiba Corporation, Arçelik (Arçelik A.Ş.), Godrej Group, Mitsubishi Electric Corporation, General Electric Appliances (GE Appliances), Galanz Group Co. Ltd., Liebherr Group, Viking Range LLC, Sub-Zero Group Inc., Thermador (Bosch Thermotechnology), Dacor Inc., Fisher & Paykel Appliances Ltd., Gaggenau Hausgeräte GmbH, Jenn-Air Corporation, KitchenAid Inc., Maytag Corporation, Kenmore Appliances, Amana (Amana Corporation), Frigidaire International, Hotpoint Appliances, Indesit Company S.p.A., Smeg S.p.A.
Asia-Pacific was the largest region in the refrigerators market in 2024. Western Europe was the second-largest region in the refrigerators market. The regions covered in the refrigerators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the refrigerators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The refrigerators market consists of sales of double-door refrigerators, french-door refrigerators, and single-door refrigerators. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Refrigerators Market Characteristics3. Refrigerators Market Trends and Strategies4. Refrigerators Market - Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics, and the Recovery from COVID-19 on the Market32. Global Refrigerators Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Refrigerators Market34. Recent Developments in the Refrigerators Market
5. Global Refrigerators Growth Analysis and Strategic Analysis Framework
6. Refrigerators Market Segmentation
7. Refrigerators Market Regional and Country Analysis
8. Asia-Pacific Refrigerators Market
9. China Refrigerators Market
10. India Refrigerators Market
11. Japan Refrigerators Market
12. Australia Refrigerators Market
13. Indonesia Refrigerators Market
14. South Korea Refrigerators Market
15. Western Europe Refrigerators Market
16. UK Refrigerators Market
17. Germany Refrigerators Market
18. France Refrigerators Market
19. Italy Refrigerators Market
20. Spain Refrigerators Market
21. Eastern Europe Refrigerators Market
22. Russia Refrigerators Market
23. North America Refrigerators Market
24. USA Refrigerators Market
25. Canada Refrigerators Market
26. South America Refrigerators Market
27. Brazil Refrigerators Market
28. Middle East Refrigerators Market
29. Africa Refrigerators Market
30. Refrigerators Market Competitive Landscape and Company Profiles
31. Refrigerators Market Other Major and Innovative Companies
35. Refrigerators Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Refrigerators Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on refrigerators market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for refrigerators ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The refrigerators market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include: the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Single-Door; Double-Door; French-Door; Other Types2) By Freezer Location: Freezer-on-Top; Freezer-on-Bottom; Freezer-Less
3) By Distribution Channel: Specialty Retailers; Department Stores; Mass Retailers/Hypermarkets/Supermarkets; Discount Stores; Online
4) By Application: Household; Commercial Use; Industrial Use
Subsegments:
1) By Single-Door: Compact Refrigerators; Top-Freezer Refrigerators2) By Double-Door: Top-Freezer Double-Door; Bottom-Freezer Double-Door
3) By French-Door: Side-by-Side French Door; Four-Door French Door
4) By Other Types: Mini Refrigerators; Smart Refrigerators; Commercial Refrigerators
Key Companies Mentioned: Electrolux AB; Haier Group Corporation; LG Electronics Inc.; Samsung Electronics Co. Ltd.; Whirlpool Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
The major companies featured in this Refrigerators market report include:- Electrolux AB
- Haier Group Corporation
- LG Electronics Inc.
- Samsung Electronics Co. Ltd.
- Whirlpool Corporation
- Hitachi Ltd.
- Bosch (Robert Bosch GmbH)
- Hisense Group Co. Ltd.
- Sharp Corporation
- Siemens AG
- TCL Corporation
- Kinghome Electrical Appliance Co. Ltd.
- Midea Group Co. Ltd.
- Panasonic Corporation
- Meiling (Guangdong Meiling Group Co. Ltd.)
- DIQUA
- Frestec (Frestech Group)
- Casarte
- Homa Appliances Co. Ltd.
- LittleSwan (Qingdao Haier Washing Machine Co. Ltd.)
- Konka Group Co. Ltd.
- Toshiba Corporation
- Arçelik (Arçelik A.Ş.)
- Godrej Group
- Mitsubishi Electric Corporation
- General Electric Appliances (GE Appliances)
- Galanz Group Co. Ltd.
- Liebherr Group
- Viking Range LLC
- Sub-Zero Group Inc.
- Thermador (Bosch Thermotechnology)
- Dacor Inc.
- Fisher & Paykel Appliances Ltd.
- Gaggenau Hausgeräte GmbH
- Jenn-Air Corporation
- KitchenAid Inc.
- Maytag Corporation
- Kenmore Appliances
- Amana (Amana Corporation)
- Frigidaire International
- Hotpoint Appliances
- Indesit Company S.p.A.
- Smeg S.p.A
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | April 2025 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value ( USD | $ 54.15 Billion |
| Forecasted Market Value ( USD | $ 67.11 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 44 |
