Press release
Refrigerators Market Anticipated To Witness Robust Growth, Surpassing $67.11 Billion By 2029
Refrigerators
What Is the Current Refrigerators Market Size and Its Estimated Growth Rate?
The refrigerators market has shown strong growth in recent years. It will increase from $51 billion in 2024 to $54.15 billion in 2025, with a CAGR of 6.2%. This growth is fueled by the rising demand for frozen and chilled food, changing food habits and lifestyles, effective marketing and advertising, urbanization, and smaller living spaces.
The refrigerators market is expected to grow steadily, reaching $67.11 billion by 2029 at a CAGR of 5.5%. Growth will be driven by energy-efficient technologies, smart home compatibility, health-conscious consumers, aesthetic preferences, and an aging population. Prominent trends include French door designs, Wi-Fi-enabled models, efficient compressors, eco-friendly materials, and specialty appliances.
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How Are Emerging Segments Shaping the Refrigerators Market Landscape?
The refrigerators market covered in this report is segmented -
1) By Type: Single-Door, Double-Door, French-Door, Other Types
2) By Freezer Location: Freezer-on-Top, Freezer-on-Bottom, Freezer-Less
3) By Distribution Channel: Specialty Retailers, Department Stores, Mass Retailers/Hyper markets/Super markets, Discount Stores, Online
4) By Application: Household, Commercial Use, Industrial Use
Subsegments:
1) By Single-Door: Compact Refrigerators, Top-Freezer Refrigerators
2) By Double-Door: Top-Freezer Double-Door, Bottom-Freezer Double-Door
3) By French-Door: Side-by-Side French Door, Four-Door French Door
4) By Other Types: Mini Refrigerators, Smart Refrigerators, Commercial Refrigerators
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Which Growth Factors Are Influencing Refrigerators Market Expansion?
The refrigerators market is experiencing growth due to the increasing consumption of processed food products and changing dietary habits. As consumers rely more on processed food and ready-made meals, refrigerators are essential for storage. The processed food industry, valued at $2 trillion globally, is driving the demand for refrigeration solutions.
Who Are the Dominant Players Across Different Refrigerators Market Segments?
Major companies operating in the refrigerators market include Electrolux AB, Haier Group Corporation, LG Electronics Inc., Samsung Electronics Co. Ltd., Whirlpool Corporation, Hitachi Ltd., Bosch (Robert Bosch GmbH), Hisense Group Co. Ltd., Sharp Corporation, Siemens AG, TCL Corporation, Kinghome Electrical Appliance Co. Ltd., Midea Group Co. Ltd., Panasonic Corporation, Meiling (Guangdong Meiling Group Co. Ltd.), DIQUA, Frestec (Frestech Group), Casarte, Homa Appliances Co. Ltd., LittleSwan (Qingdao Haier Washing Machine Co. Ltd.), Konka Group Co. Ltd., Toshiba Corporation, Arçelik (Arçelik A.Ş.), Godrej Group, Mitsubishi Electric Corporation, General Electric Appliances (GE Appliances), Galanz Group Co. Ltd., Liebherr Group, Viking Range LLC, Sub-Zero Group Inc., Thermador (Bosch Thermotechnology), Dacor Inc., Fisher & Paykel Appliances Ltd., Gaggenau Hausgeräte GmbH, Jenn-Air Corporation, KitchenAid Inc., Maytag Corporation, Kenmore Appliances, Amana (Amana Corporation), Frigidaire International, Hotpoint Appliances, Indesit Company S.p.A., Smeg S.p.A
What Refrigerators Market Trends Are Gaining Traction Across Different Segments?
Refrigerator manufacturers are adopting IoT and embedded sensor technologies to enhance functionality. These technologies enable refrigerators to automatically detect and adjust the temperature based on the type and weight of food stored inside, improving energy efficiency and food preservation.
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Which Geographic Regions Are Expected to Dominate the Refrigerators Market in the Coming Years?
Asia-Pacific was the largest region in the refrigerators market in 2023. Western Europe was the second-largest region in the refrigerators market. The regions covered in the refrigerators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Refrigerators Market?
2. What is the CAGR expected in the Refrigerators Market?
3. What Are the Key Innovations Transforming the Refrigerators Industry?
4. Which Region Is Leading the Refrigerators Market?
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