Product Launches Drive Indonesia Refrigeration Appliances Market

Triton Market Research presents the Indonesia Refrigeration Appliances Market report sectioned by Category (Freezers, Fridge Freezers, Fridges, Electric Wine Coolers/Chillers) and Distribution Channel (Hypermarkets, Electronics and Appliance Specialists, E-commerce, Other Distribution Channels). The report further discusses the Market Summary, Definition, Size & Forecast, Drivers, Restraints, Key Players, Market Outlook, Impact of COVID-19, Market Share Analysis, Brand Share Analysis, Pestle Analysis, Key Buying Criteria, Value Chain Analysis, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2022-2028).

Triton's report suggests that the market for refrigeration appliances in Indonesia is anticipated to witness growth at a CAGR of 5.57% over the forecast period 2022-2028.

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Refrigeration appliances refer to cooling systems or equipment used for freezing or chilling, usually for preservative purposes.

Manufacturers in the market are constantly introducing new products and marketing them with various discounts, prizes, and offers to attract customers. For instance, in 2022, PT LG Electronics Indonesia introduced the LG macaron refrigerator integrated with advanced technology. Another company, GT Scien, introduced a smart vaccine refrigerator to support healthcare facilities in managing the vaccine lifecycle. Such product launches are thus expected to create demand for advanced appliances, accelerating the refrigeration appliances market growth during the forecast period.

However, factors such as dependence on imports and less integration of SMEs as suppliers are likely to hamper the market growth over the forecast years.

In Indonesia, the increasing number of middle-income consumers is one of the factors anticipated to contribute to the growth of the refrigerator appliances market. Moreover, the rise in people working from home will elevate the need for these appliances. Therefore, these factors are anticipated to boost the sales of refrigeration units, driving the studied market across the nation.

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The established players in the refrigeration appliances market include Samsung Electronics Co. Ltd, Sharp Corporation, LG Corporation, Toshiba Corporation, and Panasonic Corporation.

Brand awareness about consumers is among the major factors elevating competition in the market. Sharp, Aqua, Polytron, and LG are among the dominant brands gaining the majority of shares. Additionally, a growing demand for product differentiation has led to the entry of new players, which may further increase competition among players over the forecast period.

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This release was published on openPR.