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Household Refrigerators And Freezers Market Size By Product (Top Mounted Freezer, Bottom Mounted, Side-By-Side, French Door Bottom Freezer), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2025

  • Report ID: GMI849
  • Base Year: 2015
  • Report Format: PDF

Industry Trends

Household Refrigerators and Freezers Market size valued at over USD 59 billion in 2015 and is projected to grow at 2.7% CAGR from 2016 to 2025.

Household Refrigerators and Freezers Market
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Growing energy efficiency initiatives and rising purchasing power of consumers would drive the global market growth over the forecast timeline. Capabilities of pairing smartphones with refrigerators and the advent of compressor less products contribute towards the key technological advancements witnessed in the industry.

Household refrigerators and freezers market may observe considerable growth owing to stringent energy regulations for improving energy efficiency. The refrigerators built in 2011 required only 25% of the energy to operate as compared to the models built in 1975. With improving efficiency to meet standards, manufacturers have increased the refrigerator size by 20% and provided user-friendly technological advancements such as through-the-door-ice, water tap on the door, and more buying options for consumers.

The Department of Energy has made the fourth energy upgrade in less than 40 years for the 100-year old industry. Refrigerators that perform beyond the minimum energy standards qualify for the ENERGY STAR label. Key manufacturers are investing in R&D to develop household refrigerators and freezers for continued efficiency improvements. These progressive energy-efficiency standards have translated into huge savings for consumers as manufacturers have responded with new innovations. The energy efficiency standards were last updated in September 2015 under which new models need to cut their energy consumption by 20% to 25%. These new standards are anticipated to save about 5 quads of energy over the next 30 years.

By Product

Russia Household Refrigerators and Freezers Market

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French door bottom-freezer refrigerators accounted for more than 25% of the household refrigerators and freezers market share in 2015. Growing demand for technically advanced products with comfortable position for opening and closing doors will boost the industry demand. Side-by-side refrigerators is predicted to showcase 4% growth rate till 2025. Increasing consumption of frozen and fast foods in urban regions will influence consumption during the forecast timeline.

Rising demand for higher capacity frost-free devices has also shown a steeper growth in the past few years. Many established players have shifted their focus toward the higher-end spectrum with the introduction of premium products. The premium high capacity side-by-side refrigerators are gaining popularity among middle and upper-middle class due to increasing number of double-income families which prefer more storage space. Furthermore, easy financing options, maintenance free compressors, and increased life cycle would support the increasing market demand over the forecast period.

By Region

Increasing disposable income and requirements for energy efficient products is responsible for the Europe household refrigerators and freezers market expansion from 2016 to 2025. The energy efficiency upgrade in September 2015 will contribute to rising demand for environmentally friendly products in the U.S. market. Newly launched models would reduce the energy consumption and operating costs making it reliable for consumers. Moreover, features such as automated temperature adjustability, smartphones connectivity, automated food ordering and desire for having second refrigerator are also forecast to increase demand.

Changing lifestyles in rural areas will propel the market size over the coming years. Significant investments by government in the rural electrification will also support the increasing demand. Affordable single door or direct cool refrigerators are expected to be the largest selling units in these markets. With rising in manufacturing technologies and globalization, products available for all income levels are affordable.

Competitive Landscape

Major companies operational in the market include Electrolux, Samsung, Whirlpool, Haier and LG. Other prominent players are General Electric, Bosch, Panasonic and Frigidaire. Key players are focusing on providing more advanced features to consumers with extensive product portfolio to gain competitive edge.

Industry Background

A household refrigerator is a small cold storage space where food products such as milk, ice-cream, fish, meat, vegetables, fruits, water, etc. can be stored at low temperature. These products make use of vapor compression system for maintaining storage conditions. The sizes of household refrigerator vary from about 100 litres to 600 litres.

An average refrigerator uses around 13.7% of the home’s energy and is classified to be the largest energy user after an air conditioner, which consumes about 16%. Refrigerators need to keep food frozen or cool running 24 hours a day. The normal life of a refrigerator lasts between 15 to 20 years. Consumers prefer their choice of product based on the following factors:

  • Doors & drawers
  • Versatility of switching opening side of the door
  • Freezer position
  • Size (compact, mid-size and large)
  • Price (budget, basic and luxury)
  • Aesthetic (finish, depth, interior storage)
  • Warranties, accessibility and energy-efficiency

The products are available in wide array of sizes and styles depending upon the consumers. The basic configurations are refrigerator with freezer, top-mount, bottom-mount, side-by-side, French-door, chest freezers and upright freezers. Upright refrigerators are the simplest models having a single large door with the refrigerated space & freezer compartment on the back. These models are more economical than others but are less energy efficient as more energy is required to cool the freezer when the door is opened.

Household refrigerators and freezers market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in million units and revenue in USD million from 2010 to 2025, for the following segments:

  • Market By Product
    • Top mounted refrigerators
    • Bottom mounted refrigerators
    • Side-by-side refrigerators
    • French door refrigerators

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • EU
  • EEU
    • Russia
    • Belarus
    • Kazakhstan
    • Armenia
    • Kyrgyzstan
  • Other CIS countries
    • Azerbaijan
    • Moldova
    • Tajikistan
    • Turkmenistan
    • Ukraine
    • Uzbekistan
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
    • Mexico
  • Middle East
  • Africa


Authors: Preeti Wadhwani, Prasenjit Saha

Frequently Asked Questions (FAQ) :

The market size of household refrigerators and freezers valued at over USD 59 billion in 2015.

The industry share of household refrigerators and freezers is set to grow at 2.7% CAGR from 2016 to 2025.

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Premium Report Details

  • Published Date: Dec 2016
  • Companies covered: 11
  • Tables & Figures: 194
  • Countries covered: 18
  • Pages: 110

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