Global Household Refrigerators and Freezers Market was valued US$ 77.84 Bn in 2019 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Report estimates the growth rate and the Household Refrigerators and Freezers Market value based on market dynamics, development inducing factors. The complete knowledge is based on the latest industry news, opportunities, and trends. Increasing investments in innovation of refrigerators units and growing income levels coupled with a decline in product costs with high specifications availability are some of the key trends stimulating market growth. The refrigerator and freezer market is growing progressively with significant growth in rising consumer spending power and ease of financing schemes. Increasing inclination towards sophisticated brands is also expected to bolster the growth of the market over the coming years.
Major initiatives by government in the rural electrification will also support the increasing demand for appliances. Affordable direct cool or single door fridges are likely to have a huge sale in developing economies. Growing globalization and manufacturing technologies will provide affordable products for all income levels.
In terms of the refrigerator door, because of high affordability and energy efficiency, single door types are collected to hold a large share in the market during the forecast period. French door types have separate spaces to store food, beverages, groceries, and other products.
Based on freezer location, freezer on top is the most widely adopted types of refrigerators for household applications. The freezer on top and bottom segments are estimated to show similar growth rates during the forecast period. Freezer less type is regularly less chosen as it is used for the storage of beverages only. Refrigerators and freezers are considered safe, easy, and convenient ways to preserve food and food products as well as hold a prominent position in the household kitchen appliances segment. Increasing preference in the direction of stylish brands is also likely to boost the growth of the market.
Region-Wise, North America is projected to account for the leading share in the global arena during the forecast horizon because of the presence of a large base of urban population, growing nuclear families, and surging usage of multiple refrigerator and freezer units for beverages and other food products.
The US household refrigerators and freezers market share represented the majority of the North American demand in 2018. Growing disposable income and requirements for energy-efficient products is expected to generate considerable sales in the region.
The objective of the report is to present a comprehensive analysis of the Global Household Refrigerators and Freezers Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Household Refrigerators and Freezers Market dynamics, structure by analyzing the market segments and project the Global Household Refrigerators and Freezers Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Household Refrigerators and Freezers Market make the report investor’s guide.
The scope of Global Household Refrigerators and Freezers Market:
Global Household Refrigerators and Freezers Market, by Refrigerator Door
• Single Door
• Double Door
• Side by Side Door
• French Door
Global Household Refrigerators and Freezers Market, by Freezer Location
• Freezer on top
• Freezer on bottom
• Freezer less
Global Household Refrigerators and Freezers Market, by Region
• North America
• Middle East & Africa
• Asia Pacific
• Latin America
Key players operated in Global Household Refrigerators and Freezers Market:
• LG Electronis
• Rober Bosch
• Dover Corporation
• Haier Inc.
• LG Electronics
• Panasonic Corporation
• Robert Bosch GmbH
• Whirlpool Corporation
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