The
global Household Refrigerators And Freezers Market size
is expected to reach USD 125.68 billion by 2025, according to a new report by
Grand View Research, Inc., progressing at a CAGR of 6.8% during the forecast
period. Growing investments in innovation of refrigerators units and rising
income levels coupled with decline in product prices with high specifications
availability are some of the key trends stimulating market growth. The
refrigerator and freezer market is growing steadily with significant rise in
rising consumer spending power and ease of financing schemes. Increasing
inclination towards sophisticated brands is also likely to bolster the growth
of the market over the coming years.
Household
refrigerators and freezers buyers are very sensitive about costs associated and
are often subject to buying inappropriate models with low prices and high electricity
consumption. In such cases, they often end up buying refrigerators and freezers
that are not considered energy efficient. Energy efficient models help in
reducing electricity consumption and ultimately reduce costs related to units.
Easily available consumer loans and other purchase schemes are expected to give
a moral boost to price-sensitive consumers. In addition, attractive schemes
presented by financial institutions and commercial banks are gaining attention
of price sensitive consumers.
Increasing
electrification and wide usage of internet sales are expected to propel the
market for household refrigerators and freezers in rural and semi-urban areas.
Furthermore, increasing nuclear families count and environmental changes are
anticipated to boost the growth of the overall market. Urban families prefer to
cook large meals ahead of time, which augments the necessity of a household
refrigerator unit. Also, consumers prefer separate refrigerator units to store
beverages.
Browse
Details of Report @
https://www.grandviewresearch.com/industry-analysis/household-refrigerators-freezers-market
https://www.grandviewresearch.com/industry-analysis/household-refrigerators-freezers-market
Further key findings from the report suggest:
- The
household refrigerators and freezers market was valued at USD 72.43
billion in 2017
- French door
refrigerators emerged as the fastest growing segment over the forecast
period
- Freezer on
top emerged as the largest segment in 2017 and is estimated to generate
revenue of approximately USD 58.50 billion by 2025
- The North
America market held the largest share in the household refrigerators and
freezers market in 2017. Adoption and usage of refrigerators and freezers
for storing and preserving food and food products is high in the region
- Key players
include Haier, LG Electronis, Electrolux, Samsung, Whirlpool, and Rober
Bosch.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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