Global Refrigerators Market Report 2022 – Market Forecast, Trends And Strategies

The global refrigerators market size is expected to grow from $38.57 billion in 2021 to $39.64 billion in 2022 at a compound annual growth rate (CAGR) of 2.8%. The growth in the market 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 refrigerator market is expected to reach $42.67 billion in 2026 at a CAGR of 1.9%.

What is the Global Refrigerators Market?

The refrigerators market consists of revenues generated by entities (organizations, sole traders, or partnerships) that carry out design, manufacturing, and sales of Refrigerators. The market includes sales of household refrigerators which are electrical appliances used to preserve food at cold temperatures.

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What drives the Global Refrigerators Market?

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.

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Global Refrigerators Market Segments
The global refrigerators market is segmented:
By Type: Single-Door, Double-Door, French-Door, Others
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 regions covered in the refrigerators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Refrigerators Global Market Report 2022 provides market size and growth forecasts for the global refrigerators market, global refrigerators market share, refrigerators global market segments and geographies, refrigerators global market competitive landscape including 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.

Global Refrigerators Industry Players include Electrolux, Haier, LG Electronics, Samsung Electronics, Whirlpool, Hitachi, Bosch, Hisense, Sharp, and Siemens. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.