Refrigerator Market 2020-2026

Global Refrigerator Market Size, Share & Trends Analysis Report By Product Type (Single Door, Double Door, Side by Side Door, French Door and Other), By Application (Household and Commercial), By Distribution Channel (Online Channel and Offline Channel), Forecast Period 2020-2026.

The global refrigerator market is anticipated to grow at a CAGR of 6.2% during the forecast period. The growth of the market can be attributed to the rapidly increasing urbanization coupled with increasing disposable income. Due to this, the demand for luxury, premium branded and smart feature equipped refrigerator is significantly high since the past few years. In addition to this, continuous innovation in the product offering will also drive the growth of the refrigerator market. For instance, at the consumer electronics show (CES) 2020 LG showcased its two new InstaView smart fridges that feature glass doors to allow a quick scan of the fridge's inventory with the door closed. The glass panel of the refrigerator will also work as a dual smart display.

The global refrigerator market is segmented based on product type, application, and distribution channels. Based on the product type, the market is sub-segmented into a single door, double door, side by side door, French door, and other. Based on the application, the market is sub-segmented into household and commercial. Further, based on the distribution channel the market is sub-segmented into online channel and offline channel.

The global refrigerator market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific is expected to hold a major market share with significant growth during the forecast period. The growth in the region is attributed to the increasing adoption of smart featured refrigerator coupled with the rising purchasing power of the people across the region.

The key players of the global refrigerator market include Electrolux AB, General Electric Co., Haier Group Corp., Robert Bosch GmbH, Whirlpool Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers, and acquisitions, collaborations, and geographical expansion to stay competitive in the market. For instance, in September 2019, Robert Bosch GmbH in its refrigerator portfolio launched Bosch Fresh by Design collection that features the company’s FarmFresh System which aims to keep food fresh for up to three times longer while reducing food waste.

Research Methodology

The market study of the global refrigerator market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. the team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. the analysts try to contact as many executives, managers, key opinion leaders, and industry experts to bring more authenticity to the reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for refrigerator manufacturers & distributors, consumer appliances manufacturers, start-ups, venture capitalists, seed funders, research organizations, and other related organizations for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, products offered by the companies, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.

Market Segmentation:

1. Global Refrigerator Market Research and Analysis by Product Type
2. Global Refrigerator Market Research and Analysis by Application
3. Global Refrigerator Market Research and Analysis by Distribution Channel

The Report Covers:

• Comprehensive research methodology of the global refrigerator market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global refrigerator market.
• Insights about market determinants which are stimulating the global refrigerator market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.