The Global Refrigerators Market Report by The Business Research Company covers refrigerators market drivers and restraints, refrigerators market size, major players, and the impact of COVID-19 on the refrigerators market.
The household refrigerators market includes sales of household refrigerators, which are electrical appliances used to preserve food at cold temperatures.
The increasing consumption of processed food products such as frozen meat, vegetables, dairy products as well as change in the dietary habits of consumers is driving the refrigerators market growth. Due to busy lifestyles, consumers are increasingly relying on processed food, prepared meals that require refrigerators for storage. According to Rentokil, the processed food industries are valued at $2 trillion globally. The huge market for processed food products is expected to drive the refrigerators market.
The global refrigerators market is expected to grow from $31.61 billion in 2020 to $34 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $44.26 billion in 2025 at a CAGR of 7%.
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Some refrigerators market trends include refrigerator manufacturers implementing technologies such as IoT and embedded sensors in their products to improve overall functionality. Manufacturers are introducing advanced human machine interface designs in refrigerators and also manufacturing refrigerators that can automatically recognize the type and weight of the food stored in the refrigerators, adjust and monitor the temperature as per requirement.
Global refrigerators market segments include:
1) By Type: Single-Door, Double-Door, French-Door, Others.
2) By Distribution Channel: Specialty Retailers, Department Stores, Mass Retailers/Hypermarkets/Supermarkets, Discount Stores, Online.
3) By Application: Household, Commercial Use, Industrial Use.
4) By Freezer Location: Freezer-On-Top, Freezer-On-Bottom, Freezer-Less.
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Refrigerators Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides refrigerators market overviews, analyzes and forecasts market size, share, refrigerators market players, refrigerators market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The refrigerators market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Refrigerators Global Market Report 2021: COVID 19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.
Market Players Covered: Electrolux, Haier, LG Electronics, Samsung Electronics, Whirlpool, Hitachi, Bosch, Hisense, Sharp, Siemens, TCL, Kinghome, Midea, Panasonic, Meiling, DIQUA, Frestec, Casarte, Homa, LittleSwan, Konka, Toshiba, Arçelik, Godrej, Mitsubishi Electric, Panasonic.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The refrigerators Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The refrigerators Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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