Household Refrigerators And Freezers Market Analysis

Household Refrigerators And Freezers Market Analysis

French door bottom-freezer refrigerators accounted for more than 25% of the household refrigerators and freezers market share in 2015. Growing demand for technically advanced products with comfortable position for opening and closing doors will boost the industry demand. Side-by-side refrigerators is predicted to showcase 4% growth rate till 2025. Increasing consumption of frozen and fast foods in urban regions will influence consumption during the forecast timeline.
 

Rising demand for higher capacity frost-free devices has also shown a steeper growth in the past few years. Many established players have shifted their focus toward the higher-end spectrum with the introduction of premium products. The premium high capacity side-by-side refrigerators are gaining popularity among middle and upper-middle class due 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 increasing market demand over the forecast period.
 

Increasing disposable income and requirements for energy efficient products is responsible for the Europe household refrigerators and freezers market expansion from 2016 to 2025. The energy efficiency upgrade in September 2015 will contribute to rising demand for environmentally friendly products in the U.S. market. Newly launched models would reduce the energy consumption and operating costs making it reliable for consumers. Moreover, features such as automated temperature adjustability, smartphones connectivity, automated food ordering and desire for having second refrigerator are also forecast to increase demand.
 

Changing lifestyles in rural areas will propel the market size over the coming years. Significant investments by government in the rural electrification will also support the increasing demand. Affordable single door or direct cool refrigerators are expected to be the largest selling units in these markets. With rising in manufacturing technologies and globalization, products available for all income levels are affordable.