Press release
Household Refrigerators and Freezers Industry to grow at 2.7% CAGR from 2016 to 2025
fractovia.org
Manufacturers are constantly trying to develop energy efficient refrigerators by investing heavily in R&D activities, thereby creating high growth prospects for the business. Additionally, hefty government investments for promoting electrification programs in remote areas is also predicted to boost the market demand.
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Taking into consideration the geographical trends, U.S. household refrigerators and freezers industry, which contributed notably toward North America industry share in 2015, is anticipated to grow prominently over the years to come. Growing consumer awareness toward maintaining a green environment coupled with the deployment of advanced technologies that contribute toward cost reduction and energy conservation will drive U.S. household refrigerators and freezers market size.
Growing inclination toward the utilization of energy efficient products along with the rise in per capita income of consumers is projected to upswing Europe household refrigerators and freezers market size over the years to come.
French door bottom refrigerators, top mounted freezers, side-by-side freezers, and bottom mounted freezers are the major products in household refrigerators and freezers market. High capacity side-by-side freezers industry size is expected to grow at a rate of 4% during the period of 2016-2025, driven by escalating preference for high storage space and the rising demand for frozen foods among the urban population base. These products are highly preferred by the population belonging to the middle as well as upper-middle income groups thereby stimulating the business.
Browse key industry insights spread across 110 pages with 184 market data tables & 10 figures & charts from the report, “Household Refrigerators And Freezers Market” in detail along with the table of contents:
https://www.fractovia.org/news/industry-research-report/household-refrigerators-and-freezers-market
French door bottom freezer industry, which contributed over 25% of household refrigerators and freezers market share in 2015, is expected to witness a high surge over the years ahead. Surging demand for advanced products offering a high level of comfort to the consumers will drive the industry growth.
Market players are trying to incorporate new features in their products to gain competitive advantage. AB Electrolux, Haier Group Corporation, General Electric, Frigidaire, Robert Bosch GmbH, Samsung Group, Panasonic Corporation, and LG Electronics Incorporation are few of the major participants of household refrigerators and freezers industry.
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