Household Refrigerator Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
- Transparency Market Research
Household refrigerator is a household appliance primarily used for food storage with protecting it from getting contaminated. It consists of thermally insulated compartment(s) and a heat pump that transfers heat from the inside of the appliance to its external environment maintaining the refrigerator temperature below the ambient room temperature. This reduces the reproduction rate of bacteria and reduces the rate of food spoilage. Recent technological advancements in household refrigerator technology has led to changing ecosystem of household appliances. For instance, filtered hot water on demand and integration of smart phone to check what’s inside the fridge, by selecting icons from a panel with the assistance of voice-recognition technology.
The upgraded models of household refrigerators are meticulously designed with integrated technologies for enhancing utility of appliance and storage of food in specially controlled conditions. Emerging technologies such as wireless communication and Internet of Things (IoT) along with their high adoption rate has led to integration of these technologies in household appliances. Similar trend is expected to transform the household refrigerator market. For instance, refrigerators with Wi-Fi-enabled touchscreen and embedded apps for cooking, messaging and music such as Epicurious for recipes and Evernote for note-taking are supporting additional activities along with food storage, leading to growth in household refrigerator market.
Household refrigerator market has been experiencing sustainable growth in recent years due to increasing demand for consumer goods, rapid economic growth, increasing demand for refrigerated food products, easy consumer finance, growth in urbanization and import and export activities in food and beverage sector. The other additional factor contributing to the growth of household refrigerator market is emerging commercialization and changing lifestyles of human in line with adoption of smart technologies. However, low rural penetration and inadequate infrastructure is hindering the household refrigerator market growth. The trends towards smaller families and seasonality in demand is expected to provide opportunities for growth of household refrigerator market during the forecast period.
The global Household refrigerator market is segmented on the basis of cooling technology, deployment type, storage capacity, type of model, and geography. Based on cooling technology, the global household refrigerator market is segmented as compressor refrigerators, absorption refrigerators, solar refrigerators, acoustic refrigerators, magnetic refrigerators, and thermal mass refrigerators. In terms of deployment type, the global household refrigerator market is segmented into free-standing refrigerators and ‘built into a kitchen’ refrigerators. On the basis of storage capacity, the global household refrigerator market is segmented into small storage capacity refrigerators (<100L), medium storage capacity refrigerators (100L-200L), large storage capacity refrigerators (200L-300L) and others (>300L). Additionally, based on type of model, the global household refrigerator market is segmented into single compressor based model and dual compressor based model. Moreover, based on geography the global household refrigerator market is segmented into North America, Europe, South America, Asia Pacific and Middle East and Africa. North America is leading the household refrigerator market due to increased manufacturing of energy efficient household refrigerator in the region. Moreover, Asia Pacific is expected to show significant growth in household refrigerator market due to advancements in the regional home appliance sector and high demand for smart household refrigerators in this region during the forecasted period.
Some of the key players operating in household refrigerator market with most significant developments are Godrej Appliances Ltd, Frigidaire, GE Appliances, Whirlpool Corporation, Electrolux AB, Videocon International Ltd., BPL Refrigeration, LG Electronics Inc., Samsung Electronics Limited, Haier Group and Sears Holdings Management Corporation.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Have query on this report?Make an Enquiry
The team was the biggest help to us. Not only were we provided with customized solutions but also we were guided through the most complicated situations. The information was on-point yet comprehensive. The experience was absolutely satisfying and helped us turn many challenges into opportunities.
Ours is a startup with a unique set of challenges and we were therefore hesitant but the team totally put us at ease with their knowledge and expertise. Our business and its challenges were understood perfectly and help was extended accordingly. The tailor made approach really helped us gain the most informative insights.
The report repository is absolutely impressive –updated and exhaustive in terms of markets covered and information provides. Besides, with the support extended to us by the team, we could reduce costs as well as move to sustainable growth. This really helped us tap into new opportunities. Happy to have gone ahead with ResearchMos.us.
We have had a long term engagement with ResearchMoz.us and never have we felt that the work done and help extended were below flawless. The report repository is one of the best one can hope to tap into. Recently, our partner businesses opted for consultancy services and they are all thrilled with the outcome.
Insights from reports helped us improve our profit margins significantly. Most of the knowledge we needed on the market were provided to us on a granular basis. From trends, and drivers to competitive analysis, the information was not just crisp but also insightful. That helped us chart a robust growth strategy and as of now we are happy to state that we are reaping big benefits.
More from ICT
TechnologyHigh-Performance Computing-Thematic Research