The global household refrigerators market is expected to grow from $45.27 in 2022 to $48.79 in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services affecting many markets across the globe. The household refrigerators market is expected to grow to $63.66 billion in 2027 at a CAGR of 6.9%.
The household refrigerator market consists of sales of single-door, double-door, french-door, and other household 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.
Household refrigerator refers to electrical appliances used to preserve food at cold temperatures.
North America was the largest region in the global refrigerators market in 2021. The regions covered in the household refrigerators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of household refrigerators market are single-door, double-door, french-door, and others. A single door has been provided with hinges or pivots which is permitting it to swing 90° in one direction only. The distribution channels are specialty retailers, department stores, mass retailers/hypermarkets/supermarkets, discount stores, and online. The freezer locations are freezer-on-top, freezer-on-bottom, and freezer-less. The applications are for household, commercial use, and industrial use.
The increasing consumption of processed food products such as frozen meat, vegetables, and dairy products as well as the change in the dietary habits of consumers is driving the refrigerators market growth. Due to busy lifestyles, consumers are increasingly relying on processed food and prepared meals that require refrigerators for storage. According to Rentokil, the processed food industries are valued at $2 trillion globally. The huge market for processed food products is expected to drive the refrigerators market.
Intense pricing pressure on manufacturers is restraining the growth of the refrigerators market. The market has numerous players competing in terms of price, specifications, and other characteristics. Durable goods such as TV, and freezers are more price elastic than necessities. People are more likely to purchase when there is a reduction in the price of the goods and less likely to purchase when there is a price hike.
Refrigerator manufacturers are implementing technologies such as IoT and embedded sensors in their products to improve overall functionality. Manufacturers are introducing advanced human-machine interface designs in refrigerators and also manufacturing refrigerators that can automatically recognize the type and weight of the food stored in the refrigerators, and adjust and monitor the temperature as per requirement.
In December 2020, Arcelik AS, a turkey-based manufacturer of household appliances acquired Hitachi Global Life Solutions for the amount of $300 million. This acquisition of Hitachi GLS will establish a new company into which it will transfer its global home appliances business outside of Japan. Hitachi is a Japan-based manufacturer.
The countries covered in the household refrigerators market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The household refrigerators market research report is one of a series of new reports that provides household refrigerators market statistics, including household refrigerators industry global market size, regional shares, competitors with a household refrigerators market share, detailed household refrigerators market segments, market trends and opportunities, and any further data you may need to thrive in the household refrigerators industry. This household 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 players in the household refrigerators market are Electrolux, Haier, LG Electronics, Samsung Electronics, Whirlpool, Hitachi, Bosch, Hisense, Sharp, and Siemens.
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Table of Contents
1. Executive Summary2. Household Refrigerators Market Characteristics
3.Household Refrigerators Market - Macro Economic Scenario
3.1 COVID-19 Impact On Household Refrigerators Market
3.2 Ukraine-Russia War Impact On Household Refrigerators Market
3.3 Impact Of High Inflation On Household Refrigerators Market
4. Household Refrigerators Market Size And Growth
4.1. Global Refrigerators Historic Market, 2017 - 2022, $ Billion
4.1.1. Drivers Of The Market
4.1.2. Restraints On The Market
4.2. Global Refrigerators Forecast Market, 2022 - 2027F, 2032F, $ Billion
4.2.1. Drivers Of The Market
4.2.2. Restraints On the Market
5. Household Refrigerators Market Segmentation
5.1. Global Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
- Single-Door
- Double-Door
- French-Door
- Other Types
- Specialty Retailers
- Department Stores
- Mass Retailers/Hypermarkets/Supermarkets
- Discount Stores
- Online
- Household
- Commercial Use
- Industrial Use
- Freezer-on-Top
- Freezer-on-Bottom
- Freezer-Less
6.1. Global Household Refrigerators Market , Split By Region, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
6.2. Global Household Refrigerators Market , Split By Country, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
7. Asia-Pacific Household Refrigerators Market
7.1. Asia-Pacific Household Refrigerators Market Overview
7.2. Asia-Pacific Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
8. China Household Refrigerators Market
8.1. China Household Refrigerators Market Overview
8.2. China Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F,$ Billion
9. India Household Refrigerators Market
9.1. India Household Refrigerators Market Overview
9.2. India Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
10. Japan Household Refrigerators Market
10.1. Japan Household Refrigerators Market Overview
10.2. Japan Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
11. Australia Household Refrigerators Market
11.1. Australia Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
12. Indonesia Household Refrigerators Market
12.1. Indonesia Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
13. South Korea Household Refrigerators Market
13.1. South Korea Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
14. Western Europe Household Refrigerators Market
14.1. Western Europe Household Refrigerators Market Overview
14.2. Western Europe Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
15. UK Household Refrigerators Market
15.1. UK Household Refrigerators Market Overview
15.2. UK Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
16. Germany Household Refrigerators Market
16.1. Germany Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
17. France Household Refrigerators Market
17.3. France Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
18. Eastern Europe Household Refrigerators Market
18.1. Eastern Europe Household Refrigerators Market Overview
18.2. Eastern Europe Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
19. Russia Household Refrigerators Market
19.1. Russia Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
20. North America Household Refrigerators Market
20.1. North America Household Refrigerators Market Overview
20.2. North America Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
21. USA Household Refrigerators Market
21.1. USA Household Refrigerators Market Overview
21.2. USA Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
22. South America Household Refrigerators Market
22.1. South America Household Refrigerators Market Overview
22.2. South America Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
23. Brazil Household Refrigerators Market
23.1. Brazil Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
24. Middle East Household Refrigerators Market
24.1. Middle East Household Refrigerators Market Overview
24.2. Middle East Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
25. Africa Household Refrigerators Market
25.1. Africa Household Refrigerators Market Overview
25.2. Africa Household Refrigerators Market , Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
26. Household Refrigerators Market Competitive Landscape And Company Profiles
26.1. Household Refrigerators Market Competitive Landscape
26.2. Household Refrigerators Market Company Profiles
26.2.1. Electrolux
26.2.1.1. Overview
26.2.1.2. Products and Services
26.2.1.3. Strategy
26.2.1.4. Financial Performance
26.2.2. Haier
26.2.2.1. Overview
26.2.2.2. Products and Services
26.2.2.3. Strategy
26.2.2.4. Financial Performance
26.2.3. LG Electronics
26.2.3.1. Overview
26.2.3.2. Products and Services
26.2.3.3. Strategy
26.2.3.4. Financial Performance
26.2.4. Samsung Electronics
26.2.4.1. Overview
26.2.4.2. Products and Services
26.2.4.3. Strategy
26.2.4.4. Financial Performance
26.2.5. Whirlpool
26.2.5.1. Overview
26.2.5.2. Products and Services
26.2.5.3. Strategy
26.2.5.4. Financial Performance
27. Key Mergers And Acquisitions In The Household Refrigerators Market
28. Household Refrigerators Market Trends And Strategies
29. Household Refrigerators Market Future Outlook and Potential Analysis
30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Historic And Forecast Inflation Rates
30.4. Research Inquiries
30.5. About the Publisher
30.6. Copyright And Disclaimer
Executive Summary
Household Refrigerators Global Market Report 2023 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on household 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.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
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.
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
Companies Mentioned: Electrolux; Haier; LG Electronics; Samsung Electronics; Whirlpool
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
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 segmentations: 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
- Electrolux
- Haier
- LG Electronics
- Samsung Electronics
- Whirlpool
- Hitachi
- Bosch
- Hisense
- Sharp
- Siemens
- TCL
- Kinghome
- Midea
- Panasonic
- Meiling
- DIQUA
- Frestec
- Casarte
- Homa
- LittleSwan
- Konka
- Toshiba
- Arçelik
- Godrej
- Mitsubishi Electric
- Panasonic.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | February 2023 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value ( USD | $ 48.79 Billion |
| Forecasted Market Value ( USD | $ 63.66 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 26 |
