Household Refrigerators and Freezers Market Door Type Estimates and Trend Analysis Report by 2028

Household Refrigerators and Freezers Industry Overview

The global household refrigerators and freezers market size is estimated to reach USD 117.25 billion by 2028, registering a CAGR of 4.8% from 2021 to 2028, according to a new report by Grand View Research, Inc. Factors, such as a rise in disposable incomes, the growing trend of nuclear families, and increasing consumption of frozen food, are driving the market growth. Integration of state-of-the-art features with the help of disruptive digital technologies, such as the Internet of Things (IoT), digital temperature control system, and Artificial Intelligence (AI), has enabled the global market to grow exponentially over the last decade. The strong competition among leading manufacturers has resulted in heavy R&D investments to develop technologically advanced and size-compatible refrigerators.

For instance, in 2020, LG Electronics introduced the InstaView line of door-in-door refrigerators featuring a large glass panel that enables the household consumers to gaze inside the refrigerator without having to open it. This mechanism ensures that cold air inside does not escape and the food is fresh for a longer time. Furthermore, rising environmental concerns and energy efficiency initiatives are compelling manufacturers to follow regulations set by the agencies, such as the U.S. Environmental Protection Agency (EPA), which focuses on the reduction of Greenhouse Gas (GHG) emissions. An increasing number of consumers are preferring energy-efficient household refrigerators and freezers that consume less power per unit and reduce electricity bills and conserve energy in the long run.

Household Refrigerators and Freezers Market Segmentation

Grand View Research has segmented the global household refrigerators & freezers market on the basis of door type, structure, capacity, and region:

Based on the Door Type Insights, the market is segmented into Single Door and Double Door

• The double door segment accounted for the highest revenue share of more than 67% in 2020 due to the high demand for products with several shelves, door bins, and adjustable freshness and temperature control features for the freezing compartment.
• The double door segment is further divided into top-mounted freezers, side by side, and French door. Among these, the French door segment is expected to witness the fastest growth during the forecast period.

Based on the Structure Insights, the market is segmented into Built-in and Freestanding

• The freestanding segment led the global market in 2020 accounting for a revenue share of more than 58%.
• The built-in structure segment is anticipated to register the fastest CAGR of over 5.0% from 2021 to 2028. The rising trend of modular kitchen spaces is projected to supplement the growth of the segment.

Based on the Capacity Insights, the market is segmented into Less than 15 cu. Ft., 15 to 30 cu. Ft., and More than 30 cu. Ft.

• The 15 to 30 cu. Ft. segment accounted for the highest revenue share of over 47.0% in 2020.
• The majority of the households worldwide require 4 to 6 cu. Ft. of storage space per adult.
• Refrigerators offering a usable capacity of more than 30 cu. Ft. are also expected to witness substantial growth over the forecast period.

Household Refrigerators and Freezers Regional Outlook

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Key Companies Profile & Market Share Insights

The market is witnessing exponential growth worldwide with numerous domestic and international companies operating globally. However, established players have a stronghold on the market owing to brand image, diverse product portfolios, and constant focus on innovations. Leading vendors also spend more on R&D activities to introduce modernized systems that can help them attain a competitive edge in the market.

Some prominent players in the global Household Refrigerators and Freezers market include:

• AB Electrolux
• Dover Corp.
• LG Electronics
• Whirlpool Corp.
• Samsung
• Robert Bosch GmbH

Order a free sample PDF of the Household Refrigerators and Freezers Market Intelligence Study, published by Grand View Research.