Press Release
Press Release
The Asia Pacific accounts for a major market share as it is the hub of home appliance manufacturers such as LG Electronics, Inc., Panasonic Corporation, and Samsung Electronics Co. Ltd. The growing population and a rise in the working population expand the food service industry, which, in turn, drives the demand for commercial refrigerators.
The growing demand for home appliance items due to the region's increasing infrastructural development activities is favouring the refrigerator market demand in the Asia Pacific. Further important drivers aiding the market expansion in the Asia Pacific include the growing number of households, rising disposable income, rapid urbanisation, and a strong desire for smart appliances to replace traditional appliances. The expanding hospitality and tourism sectors in countries like Thailand, the Philippines, and Indonesia further contribute to a surge in the demand for refrigerators.
Key players are increasingly attempting to enhance the sustainability profile of refrigerators amid rising environmental concerns. For instance, in September 2023, LG Electronics, Inc. (NYSE: LPL) received International Environmental Product Declaration (EPD) certification for its premium refrigerators (600-litre models) MF-B6**, F62*****B, and M62******2(S). EPD certification helps consumers make more environmentally conscious decisions by giving them clear, reliable information about a product's impact on the environment.
Due to its sophisticated Inverter Linear CompressorTM, vacuum insulation, and optimised refrigeration cycle, the energy-efficient refrigerator lowers energy usage. LG believes that consumers seeking to reduce their home's energy use will benefit with the product's efficiency and newly granted EPD certification.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
The major players in the global refrigerator market are LG Electronics Inc., Haier Group, Whirlpool Corporation, Samsung Electronics Co., Ltd., Hitachi Ltd., Electrolux AB, Panasonic Corporation, BSH Home Appliances Corporation, Miele & Cie. KG, Arcelik A.Az, Toshiba Corporation, Midea Group, Honeywell International Inc, Godrej & Boyce Manufacturing Company Limited, and Sharp Electronics Corporation., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
Breakup by Technology |
|
Breakup by Product Type |
|
Breakup by Weight |
|
Breakup by Distribution Channels |
|
Breakup by Region |
|
Market Dynamics |
|
Competitive Landscape |
|
Companies Covered |
|
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.