Household Refrigerators & Freezers Market size worth $78.2bn by 2025

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Household Refrigerators And Freezers Market size
to reach USD 78.22 billion by 2025 Global Market
Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Household Refrigerators And
Freezers Market

• French door bottom-freezer refrigerator market
  share was over 25 in 2015. Rising demand for
  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 majority of the North American
  demand in 2015. 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 Samsung, Electrolux,
  Haier, Whirlpool and LG. Other prominent players
  are Panasonic, Bosch, General Electric and
  Frigidaire.

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Continued...

• 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.
• Household refrigerators and freezers market size
  is characterized by diverse competitors present
  globally offering new technologies lowering
  energy consumption every year. Growing energy
  efficiency initiatives by the Department of
  Energy have translated into huge savings for
  consumers.
• Refrigerators performing beyond minimum energy
  standards qualify for the ENERGY STAR label.
  Introducing energy efficiency labels to grow
  consumer awareness on the differences in costs,
  energy consumption and benefits would motivate
  consumers to care about the energy usage in home
  appliances. With improving efficiency to meet
  standards, manufacturers have increased the
  refrigerator size by 20 and provide
  user-friendly technological advancements such as
  through-the-door-ice, water tap on the door, and
  more buying options for consumers.

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360 Analysis

• Product Trends
• Side-by-side refrigerators market share is
  projected to grow at 4 CAGR from 2016 to 2025.
  The premium high capacity side-by-side
  refrigerators are gaining popularity among middle
  and upper-middle class owing to increasing number
  of double-income families which prefer more
  storage space. Furthermore, easy financing
  options, maintenance free compressors, and
  increased life cycle would support the demand
  over the forecast period.
• Regional Trends
• The energy efficiency upgrade in September 2015
  will contribute to rising demand for
  environmentally friendly products in the U.S.
  household refrigerators and freezers market.
  Changing lifestyles in rural areas will drive the
  household refrigerators and freezers market size
  from 2016 to 2025. Significant investments by
  government in the rural electrification will also
  support the rising demand.
• Competitive Market Share
• Key competitors in household refrigerators and
  freezers industry include Samsung, Electrolux,
  Haier, Whirlpool and LG. Other prominent players
  are Panasonic, Bosch, General Electric and
  Frigidaire.

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