The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The increasing consumption of processed food products such as frozen meat, vegetables, and dairy products as well as change in the dietary habits of consumers are expected to drive innovation in refrigerators manufacturing, thus driving the market during the forecast period.

The global refrigerators market is expected to grow from $45.27 billion in 2022 to $48.79 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The global refrigerators market size is expected to grow to $63.66 billion in 2027 at a CAGR of 6.9%.

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Global Refrigerators Market Segments Include:

• By Type:Single-Door, Double-Door, French-Door, Other Type
• By Distribution Channel:Specialty Retailers, Department Stores, Mass Retailers/Hypermarkets/Supermarkets, Discount Stores, Online
• By Application:Household, Commercial Use, Industrial Use
• 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. Among these regions, Asia Pacific is the largest region in the global refrigerators market in 2021.

Major Market Players in the refrigerators market include Electrolux, Haier, LG Electronics, Samsung Electronics, Whirlpool, Hitachi, Bosch, Hisense, Sharp, and Siemens.

Refrigerators manufacturers are 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, and adjust and monitor the temperature as required.

The Refrigerators Global Market Report 2023  provides a refrigerators market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The refrigerators market forecast analyzes refrigerators market size, refrigerators market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A refrigerator is defined as an electrical appliance used to preserve food at cold temperatures.

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