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Global Refrigerator Market Size, Share, Analysis: By Technology: Inverter, Non-Inverter; By Product Type: French Door, Top Freezer, Bottom Freezer, Others; By Weight; By Distribution Channels: Hypermarkets and Supermarkets, Specialty Retailers, Online, Others; Regional Analysis; Competitive Landscape; Industry Events and Developments; 2022-2027

Global Refrigerator Market Outlook

The global market size for refrigerators reached a value of more than USD 113.05 billion in 2021. The global refrigerator market is expected to grow at a CAGR of 5.70% between 2022 and 2027, reaching a value of USD 157.6 billion by 2027.

 

Key Trends in the Market

A refrigerator, commonly known as a fridge, has become an essential home appliance used to store and preserve food items that are perishable. Refrigerant tetrafluoroethane is used in refrigerators which changes from liquid to gas and cools the surrounding area, creating a desirable surrounding. It has five main working parts including a condenser, refrigerant, compressor, expansion valve, and evaporator.

 

  • Technological advancements in refrigerators are a key trend that is upsurging the growth of the market. High-tech refrigerators are being developed with features such as barcodes to keep track of the food’s expiry and other important details. Moreover, it connects with smartphones and provides advanced services.
  • Glass doors are also becoming popular and are garnering great demand. These refrigerators allow anyone to see the food items kept inside without opening the refrigerator, ensuring that the doors open only when necessary, thus keeping the food fresh for longer.
  • Variety in the types of storage offered by refrigerators, including multiple sections and dedicated sections for specific items, are a growing trend in the refrigerator market. As demand and consumption of frozen products increase, the freezer section size is growing in some types of refrigerators.

 

Market Analysis

Based on product type, the market can be segmented into French door, top freezer, bottom freezer, and others. On the basis of technology, it can be bifurcated into inverter and non-inverter. Based on weight it is divided into small capacity refrigerator (less than 100L), medium capacity refrigerator (100L to 200L), large capacity refrigerator (200L to 300L), and extra large capacity refrigerator (more than 300L). By distribution channel, the market is divided into hypermarkets and supermarkets, specialty retailers, online, and others. The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. 

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global refrigerator market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans. 

 

  • LG Electronics Inc.
  • Haier Group
  • Whirlpool Corporation
  • Samsung Electronics Co., Ltd.
  • Hitachi Ltd.
  • Others

 

Market Share by Technology

Inverter refrigerators are preferred over non-invertor because non-invertor refrigerators tend to be rigid, produce loud noise, and run at a fixed speed whereas inverter refrigerators save a ton of energy and produce low noise. Invertor refrigerators are long-lasting and thereby hold a larger share in the global refrigerator market.


Market Share by Distribution Channels

Specialty retailers give a full demo before selling the product which tends to satisfy concerns of customers and are hence preferred by many consumers. Refrigerators are easily available at supermarkets and buyers can check every detail giving a sense of satisfaction while buying the product. Online stores have also gained popularity because of the offers and discounts that are provided with return options available too. The wide range of purchasing options available are surging the growth of the global refrigerator market.

 

Competitive Landscape

LG Electronics Inc. founded in 1958 has its headquarter in Seoul, South Korea. It is known worldwide and is a global leader in manufacturing commercial products including TVs, monitors, home appliances, service robots, and air solutions.

 

Haier Group is a leading producer of daily use appliances and was founded in 1984 with headquarters in China. With continued collaborations with ecosystem partners, the group has a vision to build IoT ecosystems for customers globally.
 

Whirlpool Corporation is known for developing appliances such as ACs, refrigerators, washing machines, and microwaves. It was established in 1911 and has its headquarters in Michigan, in the United States.

 

Other market players include Samsung Electronics Co., Ltd., Hitachi Ltd., and others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2021
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Technology
  • Product Type
  • Weight
  • Distribution Channels
  • Region
Breakup by Technology
  • Inverter
  • Non-Inverter
Breakup by Product Type
  • French Door
  • Top Freezer
  • Bottom Freezer
  • Others
Breakup by Weight
  • Small Capacity Refrigerator (Less than 100L)
  • Medium Capacity Refrigerator (100L to 200L)
  • Large Capacity Refrigerator (200L to 300L)
  • Extra Large Capacity Refrigerator (More than 300L)
Breakup by Distribution Channels
  • Hypermarkets and Supermarkets
  • Specialty Retailers
  • Online
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • LG Electronics Inc.
  • Haier Group
  • Whirlpool Corporation
  • Samsung Electronics Co., Ltd
  • Hitachi, Ltd.
  • Others

 

*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.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Refrigerator Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Refrigerator Historical Market (2017-2021) 
    8.3    Global Refrigerator Market Forecast (2022-2027)
    8.4    Global Refrigerator Market by Technology
        8.4.1    Inverter
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Non-Inverter
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
    8.5    Global Refrigerator Market by Product Type
        8.5.1    French Door
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Top Freezer
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Bottom Freezer
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
        8.5.4    Others
    8.6    Global Refrigerator Market by Weight
        8.6.1    Small Capacity Refrigerator (Less than 100L)
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Medium Capacity Refrigerator (100L to 200L)
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
        8.6.3    Large Capacity Refrigerator (200L to 300L)
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2017-2021)
            8.6.3.3    Forecast Trend (2022-2027)
        8.6.4    Extra Large Capacity Refrigerator (More than 300L)
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2017-2021)
            8.6.4.3    Forecast Trend (2022-2027)
    8.7    Global Refrigerator Market by Distribution Channels
        8.7.1    Hypermarkets and Supermarkets
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2017-2021)
            8.7.1.3    Forecast Trend (2022-2027)
        8.7.2    Specialty Retailers
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2017-2021)
            8.7.2.3    Forecast Trend (2022-2027)
        8.7.3    Online
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2017-2021)
            8.7.3.3    Forecast Trend (2022-2027)
        8.7.4    Others
    8.8    Global Refrigerator Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
        9.2.3.1    United Kingdom
        9.2.3.2    Germany
        9.2.3.3    France
        9.2.3.4    Italy
        9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Trade Data Analysis (HS Code- 8418)

    12.1    Major Exporting Countries
        12.1.1    By Value
        12.1.2    By Volume
    12.2    Major Importing Countries
        12.2.1    By Value
        12.2.2    By Volume 
13    Competitive Landscape
    13.1    Market Structure
    13.2    Company Profiles
        13.2.1    LG Electronics Inc.
            13.2.1.1    Company Overview
            13.2.1.2    Product Portfolio
            13.2.1.3    Demographic Reach and Achievements
            13.2.1.4    Certifications
        13.2.2    Haier Group
            13.2.2.1    Company Overview
            13.2.2.2    Product Portfolio
            13.2.2.3    Demographic Reach and Achievements
            13.2.2.4    Certifications
        13.2.3    Whirlpool Corporation
            13.2.3.1    Company Overview
            13.2.3.2    Product Portfolio
            13.2.3.3    Demographic Reach and Achievements
            13.2.3.4    Certifications
        13.2.4    Samsung Electronics Co., Ltd
            13.2.4.1    Company Overview
            13.2.4.2    Product Portfolio
            13.2.4.3    Demographic Reach and Achievements
            13.2.4.4    Certifications
        13.2.5    Hitachi, Ltd.
            13.2.5.1    Company Overview
            13.2.5.2    Product Portfolio
            13.2.5.3    Demographic Reach and Achievements
            13.2.5.4    Certifications
        13.2.6    Others
14    Industry Events and Developments


List of Key Figures and Tables

1.    Global Refrigerator Market: Key Industry Highlights, 2017 and 2027
2.    Global Refrigerator Historical Market: Breakup by Technology (USD Million), 2017-2021
3.    Global Refrigerator Market Forecast: Breakup by Technology (USD Million), 2022-2027
4.    Global Refrigerator Historical Market: Breakup by Product Type (USD Million), 2017-2021
5.    Global Refrigerator Market Forecast: Breakup by Product Type (USD Million), 2022-2027
6.    Global Refrigerator Historical Market: Breakup by Weight (USD Million), 2017-2021
7.    Global Refrigerator Market Forecast: Breakup by Weight (USD Million), 2022-2027
8.    Global Refrigerator Historical Market: Breakup by Distribution Channels (USD Million), 2017-2021
9.    Global Refrigerator Market Forecast: Breakup by Distribution Channels (USD Million), 2022-2027
10.    Global Refrigerator Historical Market: Breakup by Region (USD Million), 2017-2021
11.    Global Refrigerator Market Forecast: Breakup by Region (USD Million), 2022-2027
12.    North America Refrigerator Historical Market: Breakup by Country (USD Million), 2017-2021
13.    North America Refrigerator Market Forecast: Breakup by Country (USD Million), 2022-2027
14.    Europe Refrigerator Historical Market: Breakup by Country (USD Million), 2017-2021
15.    Europe Refrigerator Market Forecast: Breakup by Country (USD Million), 2022-2027
16.    Asia Pacific Refrigerator Historical Market: Breakup by Country (USD Million), 2017-2021
17.    Asia Pacific Refrigerator Market Forecast: Breakup by Country (USD Million), 2022-2027
18.    Latin America Refrigerator Historical Market: Breakup by Country (USD Million), 2017-2021
19.    Latin America Refrigerator Market Forecast: Breakup by Country (USD Million), 2022-2027
20.    Middle East and Africa Refrigerator Historical Market: Breakup by Country (USD Million), 2017-2021
21.    Middle East and Africa Refrigerator Market Forecast: Breakup by Country (USD Million), 2022-2027
22.    Global Refrigerator Market Structure

Key Questions Answered in the Report

The global market size for refrigerators reached a value of more than USD 113.05 billion in 2021.

The market is expected to reach a value of USD 157.6 billion by 2027.

The market is expected to grow at a CAGR of 5.70% between 2022 and 2027.

The major market drivers are longer durations between grocery shopping trips, smarter features, and versatile storage options.

Major trends of the market include technological advancements, and glass doors.

The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key players in the for the global refrigerator market are LG Electronics Inc., Haier Group, Whirlpool Corporation, Samsung Electronics Co., Ltd., and Hitachi Ltd., among others.

A refrigerator, commonly known as a fridge, is an common home appliance used to store and preserve food items that are perishable.

The market is segmented based on product type, technology, weight, distribution channel and region.

Tetrafluoroethane gas is commonly used in refrigerators.

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