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Promise of Energy Savings to Underpin Growth of Inverter Technology Refrigerators Market through 2020, says Report

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Published on : Oct 13, 2016

ALBANY, NY, Oct 13, 2016: Despite there being a relatively small market for inverter technology refrigerators in developed countries in Europe and North America, the global market is expected to register an 11.44% CAGR from 2016 through 2020, says a new report that has been added to ResearchMoz.us. The report is titled, “Global Inverter Technology Refrigerators Market 2016-2020.” Originally developed in Japan, inverter technology has come to find applications across industry verticals. It is especially useful in household appliances, especially refrigerators and air conditioners. In the former, inverter compressors are used to regulate the cooling capacity as required. It is, however, the electricity saving capacity of inverters as compared to conventional refrigerators that is driving their uptake globally. 

Developing countries that are racing toward urbanization are still plagued with power cuts. These include countries such as India, Brazil, and China as well as several countries in the Middle East and Africa region. The sales of inverter technology refrigerators are rising in these regions thanks to the increased purchasing power of consumers and a heightened level of awareness about the availability of these products on the market. 

The authors of the report predict bright prospects for the growth of the global inverter technology refrigerator market. Inverter refrigerators fitted with variable speed electric drive motors offer proven savings – an attribute that is highly desirable among consumers of home appliances. On an average, inverter technology refrigerators could offer energy savings in the 30% to 50% range. Yet, purchase decisions may often be deferred on account of some consumers regarding inverter refrigerators as being prohibitively expensive. This could deal a blow to overall sales, ultimately holding down the growth of the global inverter technology refrigerator market. 

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The report also contains a comprehensive section on comparison between inverter technology refrigerators and conventional refrigerators. Inverter technology can be applied to liner, rotary, and reciprocating compressors, which expands its scope of application. For a detailed analysis of the global inverter technology refrigerator market, the report analyzes the various distribution channels, the regional markets, and top-vendor offerings. 

By geography, the report segments the global inverter technology refrigerator market into Asia Pacific, the Middle East and Africa, Europe, and the Americas. In many of these markets, consumers looking for upgrade purchases represent a lucrative target market manufacturers of inverter technology refrigerators. The sophistication of inverter technology refrigerators in terms of design is yet another factor that will work in favor of the market. 

The key vendors studied in the report include LG Electronics, Samsung Electronics, Hitachi, and Panasonic. Other companies that have a sizeable stake in the global inverter technology refrigerator market are Haier, Toshiba, Whirlpool, Robert Bosch, Godrej, and Mitsubishi Electric. The 66-page report has been published in September 2016. 

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