Global Household Refrigerator And Home Freezer Market

The commercial refrigeration equipment market consists of sales of commercial refrigeration equipment by entities (organizations, sole traders, and partnerships) that produce commercial refrigeration equipment such as refrigerators and freezers used in supermarkets, convenience stores, restaurants, and commercial kitchens. The main product types of commercial refrigeration equipment are refrigerator & freezer, transportation refrigeration, refrigerated display cases, beverage refrigeration, ice cream merchandiser, and refrigerated vending machine. Beverage refrigeration refers to a refrigerated storage area intended to cool beverages using a vehicle's air conditioning system or a separate phase-cooling system. The refrigerant types are fluorocarbons, hydrocarbons, and inorganics. The various applications involved are hotels & restaurants, supermarkets & hypermarkets, convenience stores, and bakeries. The global commercial refrigeration equipment market size is expected to grow from $56.03 billion in 2021 to $59.74 billion in 2022 at a compound annual growth rate (CAGR) of 6.6%. The global commercial refrigeration market size is expected to grow to $79.1 billion in 2026 at a CAGR of 7.3%. The increasing demand for frozen & chilled products from consumers is anticipated to drive the commercial refrigeration market. Preference for frozen & chilled products have increased due to changing lifestyle, accelerated urbanization, and benefits offered by frozen products such as longer shelf life, convenience, reduced food preparation & clean-up time. As per the study of the American Frozen Food Institute (AFFI) released in May 2020, there is a significant growth in the purchase of frozen products among consumers with 70% of consumers buying more frozen food than usual during the COVID-19 situation. Frozen food sales increased to 80% in the week of March 15 and 94% in the week of March 22 when compared to the same weeks in 2019. Frozen and chilled products are stored in commercial refrigerators in supermarkets, hypermarkets, and refrigerated trucks from where they are bought and transported. This is likely to generate a higher requirement for commercial refrigeration equipment for storing, which propels the growth of the market. High equipment and installation cost of equipment is expected to hinder the commercial refrigeration equipment market’s growth. For instance, the total cost of the walk-in cooler including installation range from $3,000 to $9,000. In addition to this, the average cost of commercial refrigeration equipment repair falls between $100 and $325. This high cost of the equipment, installation, and maintenance are extremely unaffordable to smaller retailers who rent these services or opt for non-commercial variants, which hinders the growth of the commercial refrigeration equipment market. Companies are concentrating on incorporating the latest technologies such as artificial intelligence, 5G, and machine learning into commercial refrigeration equipment for decreasing electrical consumption, improved preventive maintenance, and better customer experience. For instance, in August 2020, Axiom Cloud and Turn tide Technologies collaborated to stimulate AI in Commercial refrigeration. Axiom will license divisions of its IoT infrastructure to Turn tide to support Turn tide's mission to reduce the 25% of global electricity consumption that is misused by legacy motors. Furthermore, in May 2019, the UTStarcom company launched the goBox together with China Mobile Group Zhejiang Company (Hangzhou), its first 5G-powered smart commercial refrigerator. The smart vending machine, goBox created a new way of shopping with an enhanced buying experience, driving greater consumption per transaction. The device is enabled by a powerful system platform supported by 5G, mobile cloud, and artificial intelligence. In February 2019, Daikin Industries, Ltd, a Japan-based manufacturer of air conditioning units HVAC-R systems, filtration systems, and chemicals, through its subsidiary Daikin Europe N.V has acquired AHT Cooling Systems GmbH for approximately $656 million (€579 million). This acquisition enabled Daikin Industries, Ltd to be a one-stop provider offering complete coordination of air conditioning and refrigeration products as it has added AHT Cooling Systems GmbH products and services relating to air conditioning and commercial equipment. It also strengthens the expansion of Daikin Industries, Ltd in Europe, and the natural refrigerant portfolio as AHT Cooling Systems GmbH focuses on natural refrigerants like propane-based equipment. AHT Cooling Systems GmbH is an Austria-based provider of refrigerator and freezer systems for retail and industry. Major players in the commercial refrigeration equipment market are Dover Corporation, Daikin Industries Ltd, Carrier Commercial Refrigeration Inc, Johnson Control Inc, Haier Group Corp, Danfoss, and Emerson Electric Company. Asia Pacific was the largest region in the global commercial refrigeration equipment market in 2021. North America was the second largest region in the global commercial refrigeration market. The regions covered in the global commercial refrigeration equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the commercial refrigeration equipment market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global commercial refrigeration equipment market is segmented - 1) By Product Type: Refrigerator and Freezer, Transportation Refrigeration, Refrigerated Display Case, Beverage Refrigeration, Ice Cream Merchandiser, Refrigerated Vending Machine 2) By Refrigerant Type: Fluorocarbons, Hydrocarbons, Inorganics 3) By Application: Hotels and Restaurants, Supermarkets and Hypermarkets, Convenience Stores, Bakery

The household appliance market consists of sales of household appliances by entities (organizations, sole traders and partnerships) that produce small electric appliances, electric housewares, and major household appliances. The main types of household appliance are small electrical appliance, household cooking appliance, household refrigerator and home freezer, household laundry equipment and other major household appliance. Household laundry equipment refers to machinery and equipment that includes residential laundry equipment such as washing machines and dryers. The appliances are operated by online and offline mode and are used for cooking, cleaning, and other applications. The global household appliances market size is expected to grow from $502.28 billion in 2021 to $557.70 billion in 2022 at a compound annual growth rate (CAGR) of 11.0%. 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 household appliance market is expected to reach $818.87 billion in 2026 at a CAGR of 10.1%. The rising trend of outdoor parties and cookouts on weekends and holiday is expected to drive the market for barbeques and grills in the forecast period. Rapidly evolving lifestyle along with the increasing outdoor recreational activities will increase the demand for barbeque machines and grills. The Europe barbeque grill market is expected to grow to $5.98 million by 2026. Increasing access to unique camping sites, and increasing adventure camping, coupled with the rising disposable income will drive the market for barbeques globally, which in turn will boost the market for household appliances in the forecast period. Increasing demand for online on demand laundry services is expected to restrain the market for household washing machines in the forecast period. The on-demand laundry services market is expected to be aided by stable economic growth forecast in many developed and developing countries. The International Monetary Fund (IMF) stated that the global real GDP growth was 3.7% over 2019 and 2020, and 3.6% from 2021 to 2023. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. For instance, China is forecast to register GDP growth of 6.2% in 2019. Stable economic growth, increasing internet penetration, and rising disposable income coupled with hectic lifestyle of individuals will lead to an increase in on demand laundry services, thereby decreasing the market for household washing machines. Household appliance manufacturers are embedding LED lights in their products to minimize power consumption. LED lights require lesser wattage as compared to CFL or incandescent light bulbs. Household appliance manufacturers are more focused on introducing products with LED lighting for minimal power consumption and improved visual appearance. For instance, GE’s LED refrigerator lighting systems minimizes power consumption by 80% compared to halogen lamps. The company has introduced products such as café’s French door refrigerators and profile wall ovens with this lighting. For instance, some of the major companies manufacturing LED lighting include Philip Electronics N.V., Osram Opto, Digital Lumens Inc and Cree Corporation. Major companies in the household appliance market include Samsung Electronics Co. Ltd., Haier Smart Home Co. Ltd., LG Electronics, Qingdao Haier Co. Ltd., Daikin Industries Ltd, Whirlpool Corp, Midea Group co ltd, Robert Bosch GmbH, Apple and Electrolux AB. Asia Pacific was the largest region in the household appliances market in 2021. Western Europe was the second largest region in the household appliances market. The regions covered in the household appliance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the household appliances market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The global household appliances market is segmented - 1) By Type: Small Electrical Appliance, Household Cooking Appliance, Household Refrigerator and Home Freezer, Household Laundry Equipment, Other Major Household Appliances 2) By Application: Cooking, Cleaning, Others 3) By Mode: Online, Offline Subsegments Covered: Household Type Fans, Household Type Vacuum Cleaners, Other Household Type Small Electric Appliances, Electric Stoves, Microwave Ovens, Barbecues and Grills, Other Household Cooking Appliances, Refrigerators, Freezers, Ice Boxes, Refrigerator/Freezer Combinations, Washing Machines, Ironers, Dryers, Other Household Laundry Equipment, Dishwashers, Waste Disposable Units, Water Heaters, All Other Major Household Appliances

The home automation market consists of sales of home automation devices by entities (organizations, sole traders, and partnerships) that use hardware and software technologies that allow users to control and manage their home's appliances and devices. A home automation system is a technological solution that allows the majority of electrical, electronic, and technology-based activities in a home to be automated. Home automation is also referred to as domotics, and a home equipped with an automation system is referred to as a smart home. The main types of products in home automation are lighting control, security and access control, HVAC control, entertainment and others. Lighting controls are a type of smart lighting gadget that allows users to adjust the amount, quality, and features of light in a specific area. These smart devices help to cut down on electricity waste while also promoting energy efficiency. The different technologies include wired home automation system and wireless home automation system and is implemented in various areas such as residential, commercial and others. The global home automation market size is expected to grow from $54.41 billion in 2021 to $61.62 billion in 2022 at a compound annual growth rate (CAGR) of 13.3%. The change in the home automation market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $95.07 billion in 2026 at a CAGR of 11.4%. The increasing use of internet of things (IoT) devices in a home automation system are expected to propel the growth of the home automation market in the forecast period. The Internet of Things based home automation system uses internet protocols or cloud computing to operate all of the smart home's equipment. The IoT-based home automation system has numerous advantages over wired systems, including flexibility, ease-of-installation, avoidance of the complexity of flowing through wires or weak electrical wiring, easy problem detection and triggering, and, most all, mobility. For instance, according to the Ericsson statistics on IoT in modern homes, consumer devices accounted for 63% of all installed IoT equipment in 2020 and the number of mobile IoT connections is predicted to reach 3.5 billion by 2023. Therefore, the increasing use of IoT devices in home automation systems drive the growth of the home automation market. The growing technological advancements are shaping the home automation market. Major companies operating in the home automation sector are focused on developing technological solutions for home automation to strengthen their position. For instance, in December 2019, Crestron Electronics, a US-based manufacturer and distributor of audiovisual automation and integration equipment launched Horizon EX Dimmers and Keypads based on wireless mesh technology. The new series of wall-box controllers, which includes matching dimmers and keypads, provides an innovative custom control solution as part of a complete Crestron smart home. In June 2020, Jersey Telecom (JT) Ltd., a UK-based telecommunications company acquired Zero1 for an undisclosed amount. Through this acquisition, Jersey Telecom expanded its intelligent engineering and home automation service offerings. Zero1 is a designer and supplier of environment and entertainment automation systems for homes and businesses in the Channel Islands. Major players in the home automation market are ABB, Crestron Electronics Inc., Schneider Electric, Honeywell International Inc., Johnson Controls Inc., Siemens AG, Legrand, Control4, Home Brain, Savant Systems Inc., Lutron Electronics Company, Sauter AG, United Technologies Corporation, Bosch Security and Safety Systems, Silvan Innovation Labs, Elan Home Systems LLC, Fueb and Harman International. North America was the largest region in the home automation market in 2021. The regions covered in the home automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the home automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global home automation market is segmented - 1) By Product: Lighting Control, Security and Access Control, HVAC Control, Entertainment, Others 2) By Technology: Wired Home Automation System, Wireless Home Automation System 3) By End-User: Residential, Commercial, Others

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. The main types of refrigerators are single-door, double-door, French-door and others. A single door refrigerator has only one outer door, the freezer too, has a door; but it can be reached only through the outer door. Also, usually available in size as small as 50 liters and can go up to 250 liters. The various freezer location includes freezer-on-top, freezer-on-bottom and freezer-less that are used for household, commercial and industrial applications. The refrigerators are distributed through specialty retailers, department stores, mass retailers/hypermarkets/supermarkets, discount stores and online channels. 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%. 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. Intense pricing pressure on manufacturers is restraining the growth of the refrigerators market. The market has numerous players competing in terms of price, specifications, and other characteristics. Durable goods such as TV, freezers are more price elastic than necessities. People are more likely to purchase when there is reduction in the price of the goods and less likely to purchase when there is a price hike. 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, adjust and monitor the temperature as per requirement. In March 2019, The Legacy Companies, a Florida based food and beverages company acquired Avanti Products Inc for an undisclosed amount. Through this acquisition the Legacy Companies plans to produce some of Avanti’s product solutions in its wholly owned manufacturing plants thereby securing a source of competitive advantage. Avanti Products Inc, a Florida based company that develops, manufacturers and markets compact appliances including refrigerators, freezers, ranges, microwave ovens, wine refrigerators, ice makers, water dispensers, laundry appliances and other compact appliances. Major players in the refrigerators market are Electrolux, Haier, LG Electronics, Samsung Electronics, Whirlpool, Hitachi, Bosch, Hisense, Sharp, and Siemens. Asia Pacific was the largest region in the refrigerators market in 2021. Western Europe was the second-largest region in the refrigerators market.The regions covered in the refrigerators market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the refrigerators market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global refrigerators market is segmented - 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

The smart refrigerators market consists of sales of smart refrigerators and related services that are used in residential and commercial sectors. A smart refrigerator is a programmed high-tech refrigerator that can identify the type of products stored therein and keep track of important information such as expiry and usage. Such refrigerators operate on a barcode or RFID network whereby the batch is collected and information are generated directly from the Internet. The main product types of smart refrigerators are top freezer refrigerator, bottom freezer fridge, side-by-side refrigerator, French door refrigerator and the technologies used are wi-fi, radio frequency identification (RFID), cellular technology, Bluetooth, zigbee and touchscreen. The top freezer refrigerator are more energy efficient and easy to freeze products. The smart refrigerators are found in two types of doors such as single, double, side by side and French and used for residential and commercial purpose. The global smart refrigerators market size is expected grow from $4.89 billion in 2021 to $5.23 billion in 2022 at a compound annual growth rate (CAGR) of 7.1%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while 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 smart refrigerator market is expected to reach $6.84 billion in 2026 at a CAGR of 6.9%. The rise in adoption of smart cities and smart infrastructures is a key factor driving the growth of the smart refrigerators market. The Internet of Things (IoT) market has been growing, with smart home devices and appliances, home is getting smarter with new devices that are available with internet connectivity. Smart home devices such as Google Nest, Ring and smart fridges have held users aware of the Internet of Things (IoT) trend, which relates to the connectivity of everyday items over the Internet. according to IoT-analytics the global number of connected IoT devices to grow by 9% to 12.3 billion active endpoints and grew to 27 billion connections by 2025. Therefore, companies are investing more in IoT due growing interest in the smart home and this factor is driving the smart refrigerators market. Smart refrigerators are generally more expensive than ordinary refrigerators. Although, smart refrigerators have high-tech features and can be controlled via smartphones, the high cost is hindering its growth. Additionally, the high repair cost is a key factor hampering the growth of the smart refrigerator market. Consumers might have to invest more on specific parts that are difficult to locate, and there might also be shortage of parts for some models in some cases. This results in using second-hand parts. Popular issues include a non-running refrigerator, or having a freezer portion that does not remain cold. The cost to fix these problems ranges between $140 and $200 nationally. The more recent issue with smart refrigerators is hacking. Smart refrigerators are not build with security and can’t be protected by antivirus software. Using devices that incorporates hardware, cloud and software designed to safeguard the appliance is an additional expense. Therefore, the high cost with smart refrigerators is expected to limit the growth of the smart refrigerators market. The IoT-enabled family hub refrigerator is a key trend in smart refrigerators market. The new Family Hub refrigerator provides features such as testing from anywhere what's inside the refrigerator, leaving messages on the White Board, seeing who's at the front door via a connected doorbell, adjusting the thermostat, watching CCTV video, suggestions for recipes, shopping recommendations, etc. In July 2020 Samsung launched its connected SpaceMax Family Hub Refrigerator which has additional storage space. Major players in the smart refrigerators market are Haier, Samsung Electronics, LG Electronics Inc., Panasonic Corporation, Whirlpool, Siemens AG, Midea Group, Hisense Co. Ltd, Electrolux, and GE Appliances. Asia Pacific was the largest region in the smart refrigerators market in 2021. Western Europe was the second-largest region in the smart refrigerators market. The regions covered in the smart refrigerator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the smart refrigerators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global smart refrigerators market is segmented - 1) By Product: Top Freezer Refrigerator, Bottom Freezer Fridge, Side-by-Side Refrigerator, French Door Refrigerator 2) By Technology: Wi-Fi, Radio Frequency Identification (RFID), Cellular Technology, Bluetooth, ZigBee, Touchscreen 3) By Door Type: Single, Double, Side-by-Side, French 4) By End-Use: Residential, Commercial

Laboratory Freezers Market Definition

The laboratory freezer market consists of revenues generated by the companies that are engaged in selling and manufacturing of laboratory freezer products and related services which are used to store blood samples, medicines and injections, and others for a long period of time. A laboratory freezer is an explicitly designed piece of laboratory equipment used to maintain consistent below-freezing temperatures and monitor it with digital displays. They have a thermally insulated compartment and a heat pump (mechanical, electronic, or chemical) which moves heat from within the device to its external environment so that the inside of the freezer is cooled to a certain temperature. Laboratory freezers are used to store a variety of samples which include pharmaceutical, biological, and other commonly used laboratory samples. Different forms of sizes of laboratory freezers are available, including upright, freestanding, and under-counter models.

The home freezers market consists of sales of home freezers. A freezer is a larger container where temperature is maintained below the freezing point for storing the food inside for longer periods. The main products of home freezers are chest freezer, upright freezer and others. A chest freezer is a cabinet freezer with a door that lifts up to open. Freezers are available as 1 door, 2 doors, 3 doors and 4 doors. The capacity of home freezers ranges from 200 and below, 200-300, 300-500, and 500. The global home freezers market size is expected to grow from $6.05 billion in 2021 to $6.16 billion in 2022 at a compound annual growth rate (CAGR) of 1.7%. 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 home freezer market is expected to reach $6.29 billion in 2026 at a CAGR of 0.5%. 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 freezers market growth. Due to busy lifestyles, consumers are increasingly relying on processed food, prepared meals that require freezers 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 freezers market. Intense pricing pressure on manufacturers is restraining the growth of the freezers market. The market has numerous players competing in terms of price, specifications, and other characteristics. Durable goods such as TV, freezers are more price elastic than necessities. People are more likely to purchase when there is reduction in the price of the goods and less likely to purchase when there is a price hike. Freezer 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 freezers and also manufacturing freezers that can automatically recognize the type and weight of the food stored in the refrigerators, adjust and monitor the temperature as per requirement. Major players in the home freezers market are Daihan Scientific, ThermoFisher Scientific, Haier Group Corporation, AB Electrolux, Hitachi Ltd, LG Electronics, Liebherr Group, Siemens Home Appliances, Brandt, and Beverage-Air Corporation. Asia Pacific was the largest region in the home freezers market in 2021. Western Europe was the second-largest region in the home freezer market. The regions covered in the home freezers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the home freezer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The home freezer market is segmented: 1) By Product: Chest Freezer, Upright Freezer, Others 2) By Type of Door: 1 Door, 2 Door, 3 Door, 4 Door 3) By Capacity: 200 & below, 200-300, 300-500, 500 & Above