Global Refrigerator Market 2024-2028

The refrigerator market is forecasted to grow by USD 49.08 bn during 2023-2028, accelerating at a CAGR of 6.91% during the forecast period. The report on the refrigerator market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for energy-efficient models of commercial refrigeration equipment, inclination toward more sophisticated and advanced models of refrigerators, and increase in number of supermarkets and hypermarkets.

Market Scope
Base Year	2023
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	6.43%
CAGR	6.91%
Incremental Value	$49.08bn

Technavio's refrigerator market is segmented as below:

By Product Specification

Freezer on-top refrigerators
Freezer on-bottom refrigerators
Freezer-less refrigerators

By Type

Single door refrigerator
Double door refrigerator
French door refrigerators
Others

By Geographical Landscape

North America
Europe
APAC
South America
Middle East and Africa

This study identifies the increasing integration of IoT in refrigerators as one of the prime reasons driving the refrigerator market growth during the next few years. Also, growing preference for customized refrigerators and new refrigerator launches will lead to sizable demand in the market.

The report on the refrigerator market covers the following areas:

Refrigerator market sizing
Refrigerator market forecast
Refrigerator market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading refrigerator market vendors that include AB Electrolux, Arcelik A.S., FRIGIDAIRE, Godrej and Boyce Manufacturing Co. Ltd., Gree Electric Appliances Inc. of Zhuhai, Haier Smart Home Co. Ltd., Hisense International Co. Ltd., Hitachi Ltd., HOSHIZAKI Corp., LG Electronics Inc., MIDEA Group Co. Ltd., Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sharp Corp., Siemens AG, TCL Electronics Holdings Ltd., Toshiba Corp., Voltas Ltd., and Whirlpool Corp.. Also, the refrigerator market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR74361

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
Exhibit 05: Executive Summary - Chart on Market Segmentation by Product Specification
Exhibit 06: Executive Summary - Chart on Market Segmentation by Type
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global refrigerator market 2018 - 2022
Exhibit 18: Historic Market Size - Data Table on global refrigerator market 2018 - 2022 ($ billion)
4.2 Product Specification Segment Analysis 2018 - 2022
Exhibit 19: Historic Market Size - Product Specification Segment 2018 - 2022 ($ billion)
4.3 Type Segment Analysis 2018 - 2022
Exhibit 20: Historic Market Size - Type Segment 2018 - 2022 ($ billion)
4.4 Geography Segment Analysis 2018 - 2022
Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
4.5 Country Segment Analysis 2018 - 2022
Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Product Specification

6.1 Market segments
Exhibit 30: Chart on Product Specification - Market share 2023-2028 (%)
Exhibit 31: Data Table on Product Specification - Market share 2023-2028 (%)
6.2 Comparison by Product Specification
Exhibit 32: Chart on Comparison by Product Specification
Exhibit 33: Data Table on Comparison by Product Specification
6.3 Freezer on-top refrigerators - Market size and forecast 2023-2028
Exhibit 34: Chart on Freezer on-top refrigerators - Market size and forecast 2023-2028 ($ billion)
Exhibit 35: Data Table on Freezer on-top refrigerators - Market size and forecast 2023-2028 ($ billion)
Exhibit 36: Chart on Freezer on-top refrigerators - Year-over-year growth 2023-2028 (%)
Exhibit 37: Data Table on Freezer on-top refrigerators - Year-over-year growth 2023-2028 (%)
6.4 Freezer on-bottom refrigerators - Market size and forecast 2023-2028
Exhibit 38: Chart on Freezer on-bottom refrigerators - Market size and forecast 2023-2028 ($ billion)
Exhibit 39: Data Table on Freezer on-bottom refrigerators - Market size and forecast 2023-2028 ($ billion)
Exhibit 40: Chart on Freezer on-bottom refrigerators - Year-over-year growth 2023-2028 (%)
Exhibit 41: Data Table on Freezer on-bottom refrigerators - Year-over-year growth 2023-2028 (%)
6.5 Freezer-less refrigerators - Market size and forecast 2023-2028
Exhibit 42: Chart on Freezer-less refrigerators - Market size and forecast 2023-2028 ($ billion)
Exhibit 43: Data Table on Freezer-less refrigerators - Market size and forecast 2023-2028 ($ billion)
Exhibit 44: Chart on Freezer-less refrigerators - Year-over-year growth 2023-2028 (%)
Exhibit 45: Data Table on Freezer-less refrigerators - Year-over-year growth 2023-2028 (%)
6.6 Market opportunity by Product Specification
Exhibit 46: Market opportunity by Product Specification ($ billion)
Exhibit 47: Data Table on Market opportunity by Product Specification ($ billion)

7 Market Segmentation by Type

7.1 Market segments
Exhibit 48: Chart on Type - Market share 2023-2028 (%)
Exhibit 49: Data Table on Type - Market share 2023-2028 (%)
7.2 Comparison by Type
Exhibit 50: Chart on Comparison by Type
Exhibit 51: Data Table on Comparison by Type
7.3 Single door refrigerator - Market size and forecast 2023-2028
Exhibit 52: Chart on Single door refrigerator - Market size and forecast 2023-2028 ($ billion)
Exhibit 53: Data Table on Single door refrigerator - Market size and forecast 2023-2028 ($ billion)
Exhibit 54: Chart on Single door refrigerator - Year-over-year growth 2023-2028 (%)
Exhibit 55: Data Table on Single door refrigerator - Year-over-year growth 2023-2028 (%)
7.4 Double door refrigerator - Market size and forecast 2023-2028
Exhibit 56: Chart on Double door refrigerator - Market size and forecast 2023-2028 ($ billion)
Exhibit 57: Data Table on Double door refrigerator - Market size and forecast 2023-2028 ($ billion)
Exhibit 58: Chart on Double door refrigerator - Year-over-year growth 2023-2028 (%)
Exhibit 59: Data Table on Double door refrigerator - Year-over-year growth 2023-2028 (%)
7.5 French door refrigerators - Market size and forecast 2023-2028
Exhibit 60: Chart on French door refrigerators - Market size and forecast 2023-2028 ($ billion)
Exhibit 61: Data Table on French door refrigerators - Market size and forecast 2023-2028 ($ billion)
Exhibit 62: Chart on French door refrigerators - Year-over-year growth 2023-2028 (%)
Exhibit 63: Data Table on French door refrigerators - Year-over-year growth 2023-2028 (%)
7.6 Others - Market size and forecast 2023-2028
Exhibit 64: Chart on Others - Market size and forecast 2023-2028 ($ billion)
Exhibit 65: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
Exhibit 66: Chart on Others - Year-over-year growth 2023-2028 (%)
Exhibit 67: Data Table on Others - Year-over-year growth 2023-2028 (%)
7.7 Market opportunity by Type
Exhibit 68: Market opportunity by Type ($ billion)
Exhibit 69: Data Table on Market opportunity by Type ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 71: Chart on Market share By Geographical Landscape 2023-2028 (%)
Exhibit 72: Data Table on Market share By Geographical Landscape 2023-2028 (%)
9.2 Geographic comparison
Exhibit 73: Chart on Geographic comparison
Exhibit 74: Data Table on Geographic comparison
9.3 North America - Market size and forecast 2023-2028
Exhibit 75: Chart on North America - Market size and forecast 2023-2028 ($ billion)
Exhibit 76: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
Exhibit 77: Chart on North America - Year-over-year growth 2023-2028 (%)
Exhibit 78: Data Table on North America - Year-over-year growth 2023-2028 (%)
9.4 Europe - Market size and forecast 2023-2028
Exhibit 79: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
Exhibit 80: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
Exhibit 81: Chart on Europe - Year-over-year growth 2023-2028 (%)
Exhibit 82: Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.5 APAC - Market size and forecast 2023-2028
Exhibit 83: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
Exhibit 84: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
Exhibit 85: Chart on APAC - Year-over-year growth 2023-2028 (%)
Exhibit 86: Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.6 South America - Market size and forecast 2023-2028
Exhibit 87: Chart on South America - Market size and forecast 2023-2028 ($ billion)
Exhibit 88: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
Exhibit 89: Chart on South America - Year-over-year growth 2023-2028 (%)
Exhibit 90: Data Table on South America - Year-over-year growth 2023-2028 (%)
9.7 Middle East and Africa - Market size and forecast 2023-2028
Exhibit 91: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Exhibit 92: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Exhibit 93: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibit 94: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.8 US - Market size and forecast 2023-2028
Exhibit 95: Chart on US - Market size and forecast 2023-2028 ($ billion)
Exhibit 96: Data Table on US - Market size and forecast 2023-2028 ($ billion)
Exhibit 97: Chart on US - Year-over-year growth 2023-2028 (%)
Exhibit 98: Data Table on US - Year-over-year growth 2023-2028 (%)
9.9 China - Market size and forecast 2023-2028
Exhibit 99: Chart on China - Market size and forecast 2023-2028 ($ billion)
Exhibit 100: Data Table on China - Market size and forecast 2023-2028 ($ billion)
Exhibit 101: Chart on China - Year-over-year growth 2023-2028 (%)
Exhibit 102: Data Table on China - Year-over-year growth 2023-2028 (%)
9.10 Germany - Market size and forecast 2023-2028
Exhibit 103: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
Exhibit 104: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
Exhibit 105: Chart on Germany - Year-over-year growth 2023-2028 (%)
Exhibit 106: Data Table on Germany - Year-over-year growth 2023-2028 (%)
9.11 UK - Market size and forecast 2023-2028
Exhibit 107: Chart on UK - Market size and forecast 2023-2028 ($ billion)
Exhibit 108: Data Table on UK - Market size and forecast 2023-2028 ($ billion)
Exhibit 109: Chart on UK - Year-over-year growth 2023-2028 (%)
Exhibit 110: Data Table on UK - Year-over-year growth 2023-2028 (%)
9.12 Japan - Market size and forecast 2023-2028
Exhibit 111: Chart on Japan - Market size and forecast 2023-2028 ($ billion)
Exhibit 112: Data Table on Japan - Market size and forecast 2023-2028 ($ billion)
Exhibit 113: Chart on Japan - Year-over-year growth 2023-2028 (%)
Exhibit 114: Data Table on Japan - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity By Geographical Landscape
Exhibit 115: Market opportunity By Geographical Landscape ($ billion)
Exhibit 116: Data Tables on Market opportunity By Geographical Landscape ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 117: Impact of drivers and challenges in 2023 and 2028
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 118: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 119: Overview on factors of disruption
11.4 Industry risks
Exhibit 120: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 121: Vendors covered
12.2 Market positioning of vendors
Exhibit 122: Matrix on vendor position and classification
12.3 AB Electrolux
Exhibit 123: AB Electrolux - Overview
Exhibit 124: AB Electrolux - Business segments
Exhibit 125: AB Electrolux - Key offerings
Exhibit 126: AB Electrolux - Segment focus
12.4 Godrej and Boyce Manufacturing Co. Ltd.
Exhibit 127: Godrej and Boyce Manufacturing Co. Ltd. - Overview
Exhibit 128: Godrej and Boyce Manufacturing Co. Ltd. - Business segments
Exhibit 129: Godrej and Boyce Manufacturing Co. Ltd. - Key offerings
Exhibit 130: Godrej and Boyce Manufacturing Co. Ltd. - Segment focus
12.5 Haier Smart Home Co. Ltd.
Exhibit 131: Haier Smart Home Co. Ltd. - Overview
Exhibit 132: Haier Smart Home Co. Ltd. - Business segments
Exhibit 133: Haier Smart Home Co. Ltd. - Key offerings
Exhibit 134: Haier Smart Home Co. Ltd. - Segment focus
12.6 Hisense International Co. Ltd.
Exhibit 135: Hisense International Co. Ltd. - Overview
Exhibit 136: Hisense International Co. Ltd. - Product / Service
Exhibit 137: Hisense International Co. Ltd. - Key offerings
12.7 Hitachi Ltd.
Exhibit 138: Hitachi Ltd. - Overview
Exhibit 139: Hitachi Ltd. - Business segments
Exhibit 140: Hitachi Ltd. - Key news
Exhibit 141: Hitachi Ltd. - Key offerings
Exhibit 142: Hitachi Ltd. - Segment focus
12.8 HOSHIZAKI Corp.
Exhibit 143: HOSHIZAKI Corp. - Overview
Exhibit 144: HOSHIZAKI Corp. - Business segments
Exhibit 145: HOSHIZAKI Corp. - Key news
Exhibit 146: HOSHIZAKI Corp. - Key offerings
Exhibit 147: HOSHIZAKI Corp. - Segment focus
12.9 LG Electronics Inc.
Exhibit 148: LG Electronics Inc. - Overview
Exhibit 149: LG Electronics Inc. - Product / Service
Exhibit 150: LG Electronics Inc. - Key offerings
12.10 Panasonic Holdings Corp.
Exhibit 151: Panasonic Holdings Corp. - Overview
Exhibit 152: Panasonic Holdings Corp. - Business segments
Exhibit 153: Panasonic Holdings Corp. - Key news
Exhibit 154: Panasonic Holdings Corp. - Key offerings
Exhibit 155: Panasonic Holdings Corp. - Segment focus
12.11 Robert Bosch GmbH
Exhibit 156: Robert Bosch GmbH - Overview
Exhibit 157: Robert Bosch GmbH - Business segments
Exhibit 158: Robert Bosch GmbH - Key news
Exhibit 159: Robert Bosch GmbH - Key offerings
Exhibit 160: Robert Bosch GmbH - Segment focus
12.12 Samsung Electronics Co. Ltd.
Exhibit 161: Samsung Electronics Co. Ltd. - Overview
Exhibit 162: Samsung Electronics Co. Ltd. - Business segments
Exhibit 163: Samsung Electronics Co. Ltd. - Key news
Exhibit 164: Samsung Electronics Co. Ltd. - Key offerings
Exhibit 165: Samsung Electronics Co. Ltd. - Segment focus
12.13 Sharp Corp.
Exhibit 166: Sharp Corp. - Overview
Exhibit 167: Sharp Corp. - Business segments
Exhibit 168: Sharp Corp. - Key news
Exhibit 169: Sharp Corp. - Key offerings
Exhibit 170: Sharp Corp. - Segment focus
12.14 Siemens AG
Exhibit 171: Siemens AG - Overview
Exhibit 172: Siemens AG - Business segments
Exhibit 173: Siemens AG - Key news
Exhibit 174: Siemens AG - Key offerings
Exhibit 175: Siemens AG - Segment focus
12.15 Toshiba Corp.
Exhibit 176: Toshiba Corp. - Overview
Exhibit 177: Toshiba Corp. - Business segments
Exhibit 178: Toshiba Corp. - Key offerings
Exhibit 179: Toshiba Corp. - Segment focus
12.16 Voltas Ltd.
Exhibit 180: Voltas Ltd. - Overview
Exhibit 181: Voltas Ltd. - Business segments
Exhibit 182: Voltas Ltd. - Key offerings
Exhibit 183: Voltas Ltd. - Segment focus
12.17 Whirlpool Corp.
Exhibit 184: Whirlpool Corp. - Overview
Exhibit 185: Whirlpool Corp. - Business segments
Exhibit 186: Whirlpool Corp. - Key offerings
Exhibit 187: Whirlpool Corp. - Segment focus

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 188: Inclusions checklist
Exhibit 189: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 190: Currency conversion rates for US$
13.4 Research methodology
Exhibit 191: Research methodology
Exhibit 192: Validation techniques employed for market sizing
Exhibit 193: Information sources
13.5 List of abbreviations
Exhibit 194: List of abbreviations