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Household Refrigerator And Home Freezer Market Overview - Forecast Market Size, Top Segments And Largest Region
The Business Research Company's Household Refrigerator And Home Freezer Global Market Report 2023 identifies Urbanization as the major driver for the Household Refrigerator And Home Freezer market's growth in the forecast period. Rapid Urbanization Is Expected To Contribute To The Growth Of Household Refrigerator And Home Freezer In The Forecast Period. For Instance, In April 2022, According To The World Economic Forum, A Switzerland-Based Independent International Organization, More Than 4.3 Billion People, Or 55% Of The World's Population, Lived In Urban Settings, And The Number Is Expected To Rise To 80% By 2050. The Growth In The Urban Population, Coupled With The Rise In Disposable Incomes And Affordability Among Residents Of Cities, Will Drive The Demand For Household Refrigerator And Home Freezer.
The household refrigerator and home freezer market size has grown strongly in recent years. It will grow from $59.18 billion in 2023 to $62.89 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to electrification of households, changing consumer lifestyles, energy efficiency and environmental concerns, kitchen remodeling and upgrades, adoption of modular kitchens, increase in the number of nuclear families worldwide.
The household refrigerator and home freezer market size is expected to see strong growth in the next few years. It will grow to $78.46 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
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Major competitors in the Household Refrigerator And Home Freezer market are LG Electronics, Haier, Samsung, Panasonic Corporation, Godrej, Electrolux, Whirlpool, Robert Bosch, Liebherr-International AG.
A key trend in the Household Refrigerator And Home Freezer market includes technological advancement. Household Refrigerator And Home Freezer manufacturers are increasingly producing energy-efficient products to reduce carbon footprints and enable energy savings for consumers. The rise of energy-efficient appliances can be attributed to stringent government regulations on electric home appliances and advances in technology. Energy-efficient appliances are designed to utilize the minimum amount of energy to complete the required task. Currently, over 80 countries have standards and labels for energy-efficient appliances. For example, in the USA, Energy Star-certified washing machines use 25% less energy and 33% less water than a standard washing machine.
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The Household Refrigerator And Home Freezer market is segmented -
• By Type: Refrigerators, Freezers, Ice Boxes, Refrigerator/Freezer Combinations
• By Refrigerator Door Type: Single Door, Double Door, Side by Side Door, French Door
• By Freezer Location: Freezer on top, Freezer on bottom, Freezer less
• By Application: Frozen Vegetable and Fruit, Frozen Meat, Other Applications
• By Distribution Channel: Specialty Stores, Supermarkets/Hypermarkets, Online, Other Distribution Channels
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Household Refrigerator And Home Freezer market.
The Business Research Company's "Global Household Refrigerator And Home Freezer Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Household Refrigerator And Home Freezer Market Include:
1. Household Refrigerator And Home Freezer Market Executive Summary
2. Household Refrigerator And Home Freezer Market Segments
3. Household Refrigerator And Home Freezer Market Size And Household Refrigerator And Home Freezer Market Growth Rate
4. Key Household Refrigerator And Home Freezer Market Trends
5. Major Household Refrigerator And Home Freezer Market Drivers
……
25. Key Mergers And Acquisitions In The Household Refrigerator And Home Freezer Market
26. Top Household Refrigerator And Home Freezer Companies
27. Household Refrigerator And Home Freezer Market Opportunities And Strategies
28. Household Refrigerator And Home Freezer Market, Conclusions And Recommendations
29. Appendix
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