The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Refrigerators Global Market Report 2024 offers crucial insights into the refrigerators market help businesses analyse and build stronger strategies.

The refrigerators market has experienced robust growth in recent years, with a notable surge in size from $48.22 billion in 2023 to $51.19 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.2%. The upward trajectory is projected to continue, reaching $63.58 billion in 2028 at a CAGR of 5.6%. Let’s delve into the key drivers and trends shaping this dynamic industry.

Processed Food Consumption and Changing Dietary Habits Fuel Refrigerators Market Growth

• Busy Lifestyles Drive Demand: The increasing consumption of processed food products, such as frozen meat and vegetables, is a primary driver. Busy lifestyles prompt consumers to rely on prepared meals that necessitate refrigeration.
• Global Processed Food Market: Valued at $2 trillion globally, the processed food industry significantly contributes to the refrigerators market’s growth.
• Key Market Players: Major companies such as Electrolux AB, LG Electronics Inc., and Samsung Electronics Co. Ltd. dominate the market.

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Increasing Focus on Introducing Eco-Friendly Refrigeration Systems to Gain a Competitive Edge

• Eco-Friendly Innovations: Leading companies prioritize the development of eco-friendly refrigeration systems to stay competitive. These systems reduce greenhouse gas emissions and environmental impact.
• MIRAI Cold 80 T: An exemplary case is the MIRAI Cold 80 T introduced by MIRAI Intex s.r.o., utilizing air as the refrigerant, eliminating oil lubrication, and operating with water as the primary cooling agent.
• CoolSys Inc. Acquisition: In November 2021, CoolSys Inc. acquired Triangle Refrigeration, emphasizing the industry’s commitment to sustainability and innovation.

Coolsys Inc. Acquired Triangle Refrigeration

• Strategic Expansion: CoolSys Inc., a US-based refrigeration solutions provider, expanded its market presence by acquiring Triangle Refrigeration in 2021.
• Market Segmentation: The refrigerators market is segmented by type, freezer location, distribution channel, and application, providing a comprehensive understanding of consumer preferences.
• Asia-Pacific Dominance: In 2023, Asia-Pacific emerged as the largest region in the refrigerators market, showcasing the global nature of the industry.

Future Growth Drivers and Trends

• Energy Efficiency and Sustainability: Anticipated growth is fueled by a focus on energy-efficient and sustainable solutions, aligning with global environmental concerns.
• Smart Home Integration: The integration of refrigerators with smart home technologies continues to be a significant trend, enhancing convenience for consumers.
• Health and Wellness: A rising emphasis on health-conscious living is reflected in the demand for refrigerators that cater to the storage of nutritious foods.
• Customization and Aesthetics: Consumers increasingly seek refrigerators that align with their kitchen aesthetics, driving innovation in design and customization.
• Aging Population: The aging population contributes to market growth, with demands for features that cater to the specific needs of seniors.
• Major Trends: French door refrigerators, Wi-Fi-connected refrigerators, energy-efficient compressors, sustainable materials, and specialty refrigerators define the industry’s evolving landscape.

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The Refrigerators Global Market Report 2024  provides a comprehensive outlook of the refrigerators market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The refrigerators market forecast offers a thorough analysis on refrigerators market size, refrigerators market share, prominent players and their strategies.

The Table Of Content For The Refrigerators Market Include:
1. Refrigerators Market Executive Summary
2. Refrigerators Market Segments
3. Refrigerators Market Size And Refrigerators Market Growth Rate
4. Key Refrigerators Market Trends
5. Major Refrigerators Market Drivers
……
25. Key Mergers And Acquisitions In The Refrigerators Market
26. Top Refrigerators Companies
27. Refrigerators Market Opportunities And Strategies
28. Refrigerators Market, Conclusions And Recommendations
29. Appendix

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