Refrigerators Market Report 2026

The refrigerators market size has grown steadily in recent years. It will grow from $51.64 billion in 2025 to $53.95 billion in 2026 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to rising urbanization, increasing household income, growing middle-class population, rising demand for frozen & processed food, adoption of electrical appliances in rural areas.

The refrigerators market size is expected to see strong growth in the next few years. It will grow to $66.47 billion in 2030 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to increasing smart home adoption, growth in online retail channels, focus on sustainable & eco-friendly appliances, integration of AI & iot in refrigerators, rising demand for energy-efficient appliances. Major trends in the forecast period include energy-efficient refrigerators, smart refrigeration systems, IOT-enabled refrigerators, AI-powered temperature control, sustainable & eco-friendly materials.

The growing demand for frozen and chilled food products is expected to drive the expansion of the refrigerators market going forward. Frozen and chilled food products are preserved at low temperatures to maintain freshness, extend shelf life, and retain nutritional value. This rising demand is fueled by increasing urbanization, as busy urban lifestyles and longer working hours leave consumers with limited time for meal preparation, prompting greater reliance on convenient, ready-to-eat frozen and chilled options. The higher consumption of these products directly boosts the need for refrigeration units to store temperature-sensitive items properly at home. For instance, in July 2024, according to the American Frozen Food Institute, a US-based non-profit organization, the sales volume of frozen fruit grew by 8.8% in the first six months of 2023. Therefore, the increasing demand for frozen and chilled food products is driving the growth of the refrigerators market.

Leading companies in the refrigerators market are focusing on developing innovative energy-efficient solutions, such as high-efficiency AI inverter compressors, to optimize energy usage and improve cooling performance. These advanced compressors dynamically adjust power consumption to maintain optimal cooling while minimizing energy use. For example, in May 2024, Samsung Electronics, a South Korea-based home appliance company, introduced three new refrigerators equipped with next-generation AI inverter compressors. Designed for smarter living in Indian homes, these refrigerators, including an 809L 4-Door Flex French Door Bespoke Family Hub model and two 650L convertible models, feature low noise levels of under 35 dB/A. The AI-powered compressors adapt to temperature changes, generating optimal cooling while reducing energy consumption based on factors such as door activity.

In October 2024, Haier Electronics Group Co., Ltd., a China-based manufacturer of small electrical appliances, acquired Carrier Global Corporation for $775 million. This acquisition aims to enhance Haier’s position in the global commercial refrigeration market. It expands Haier’s product portfolio and enables the company to offer comprehensive refrigeration solutions to clients in the industrial, food retail, and cold storage sectors. Carrier Global Corporation, a US-based company, specializes in advanced refrigeration solutions, including a variety of refrigerators.

Major companies operating in the refrigerators market are Electrolux AB, Haier Group Corporation, LG Electronics Inc., Samsung Electronics Co. Ltd., Whirlpool Corporation, Hitachi Ltd., Bosch (Robert Bosch GmbH), Hisense Group Co. Ltd., Sharp Corporation, Siemens AG, TCL Corporation, Kinghome Electrical Appliance Co. Ltd., Midea Group Co. Ltd., Panasonic Corporation, Meiling (Guangdong Meiling Group Co. Ltd.), DIQUA, Frestec (Frestech Group), Casarte, Homa Appliances Co. Ltd., LittleSwan (Qingdao Haier Washing Machine Co. Ltd.), Konka Group Co. Ltd., Toshiba Corporation, Arçelik (Arçelik A.Ş.), Godrej Group, Mitsubishi Electric Corporation, General Electric Appliances (GE Appliances), Galanz Group Co. Ltd., Liebherr Group, Viking Range LLC, Sub-Zero Group Inc., Thermador (Bosch Thermotechnology), Dacor Inc., Fisher & Paykel Appliances Ltd., Gaggenau Hausgeräte GmbH, Jenn-Air Corporation, KitchenAid Inc., Maytag Corporation, Kenmore Appliances, Amana (Amana Corporation), Frigidaire International, Hotpoint Appliances, Indesit Company S.p.A., Smeg S.p.A.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have impacted the refrigerator market by increasing the cost of imported components such as compressors, semiconductors, and insulation materials, leading to higher production costs. The double-door and smart refrigerator segments are most affected, particularly in regions like North America and Europe that rely heavily on imports. However, tariffs have encouraged local manufacturing and sourcing strategies, fostering domestic production and innovation, which may positively influence long-term cost optimization and supply chain resilience.

The refrigerators market research report is one of a series of new reports that provides refrigerators market statistics, including refrigerators industry global market size, regional shares, competitors with a refrigerators market share, detailed refrigerators market segments, market trends, and opportunities, and any further data you may need to thrive in the refrigerators industry. This refrigerators market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A refrigerator is an electrical appliance designed to keep food at low temperatures. It is used to inhibit the growth of bacteria and prevent spoilage, thereby extending the shelf life of perishable items. By creating a controlled environment, refrigerators help preserve the quality and safety of food for everyday use.

The primary categories of refrigerators include single-door, double-door, French-door, and other variations. A single-door refrigerator typically consists of a single outer door, with the freezer compartment accessible only through this main door. These refrigerators come in a range of sizes, starting from as small as 50 liters and going up to 250 liters or more. Freezers can be positioned at the top, bottom, or be entirely freezer-less, catering to various household, commercial, and industrial needs. Refrigerators are distributed through specialty retailers, department stores, mass retailers (including hypermarkets and supermarkets), discount stores, and online channels.Asia-Pacific was the largest region in the refrigerators market in 2025. Western Europe was the second-largest region in the refrigerators market. The regions covered in the refrigerators market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the refrigerators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The refrigerators market consists of sales of double-door refrigerators, french-door refrigerators, and single-door refrigerators. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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