GLOBAL INDUSTRY INSIGHT: Domestic Refrigeration Appliances Market Analysis, Development, Growth and Demand Forecast to 2020
Domestic Refrigeration Appliances Market Analysis, Development, Growth and Demand Forecast to 2020
The global domestic refrigeration appliances market has gone through significant product innovation in the past few years. The growth in environmentally-conscious consumer, in addition to technical up-gradation and innovations for more energy-efficient refrigeration appliances are driving the growth of the global domestic refrigeration appliances market. Majority of domestic refrigeration systems are factory produced, free standing appliances with hermetically sealed design which uses vapor compression cycle for refrigeration. Explore report at: https://www.psmarketresearch.com/market-analysis/domestic-refrigerationappliances-market The demand of domestic refrigeration appliances in most of the developing countries is growing in double digit. The gross domestic product (GDP) of India is expected to grow at 7.5% during the next 3 to 4 years. Despite the slightly decelerated economic growth in China, the country is still expected to maintain a GDP growth of 7% during the next five to six years. The increasing disposable income is one of major driver for the growth of white goods industry in the developing countries. The significant growth in middleclass population within the developing countries is expected during the forecast period, owing to the astronomical economic growth of these countries. Single door refrigerators still dominate the global domestic refrigeration appliance market in developing countries. However, the double door refrigerators are expected to witness higher growth, compared to single door refrigerators during the forecast period. Browse More Reports: https://www.psmarketresearch.com/industry-report/semiconductor-andelectronics The improvement in energy efficiencies, along with environment friendly and clean technological developments in white good products are driving the growth of the domestic refrigeration appliances market in the developed countries of North America and Europe.
The energy cost in
Western European countries has increased over the years, and as a result, the replacement of old and conventional home appliance with energy efficient and environment friendly appliance has gained momentum. The new grade of domestic refrigerators with energy label ‘A’ and beyond is driving the growth of the European market. Moreover, the supportive government regulation and funding for the adoption of clean and energy efficient domestic appliances in the member countries of European Union is further expected to increase the growth of the market during the forecast period.
The energy efficiency grade of ‘A’ based domestic refrigerators hold the majority of
© P&S Market Research. All rights reserved
2
Domestic Refrigeration Appliances Market Analysis, Development, Growth and Demand Forecast to 2020
market share in Europe. However, the market of high energy efficient models with grade ‘A+’ and ‘A++’ is expected to witness the fastest growth during the forecast period. The extended replacement cycle of the domestic refrigeration appliances, in addition to high level of market saturation in developed countries are expected to be two of the major factors that will impact the growth of the market negatively during the forecast period. The new purchases in the developed countries are largely anticipated from the replacement of existing units. Some of the competitors in the global domestic refrigeration appliances market are BSH Hausgeräte GmbH, AB Electrolux, Whirlpool Corporation, LG Electronics Inc., and Groupe SEB.
Global Domestic Refrigeration Appliances Market Segmentation By Product •
Refrigerators
•
By Technology o
Static
o
Frost-Free
By Type o
Built-in Refrigerators
o
Free Standing Refrigerators
By Format o
Single Door
o
Double Door
o
Other (including 3 door and 4 door refrigerator)
Freezers
By Technology
© P&S Market Research. All rights reserved
3
Domestic Refrigeration Appliances Market Analysis, Development, Growth and Demand Forecast to 2020
•
o
Static
o
Frost-Free
By Type o
Built-in Freezers
o
Free Standing Freezers
By Format o
Chest
o
Upright
o
Others (including table top and drawer)
Others (including wine coolers and bottle chillers)
By Geography •
•
•
North America
The U.S.
Canada
Europe
Germany
France
Italy
The U.K.
Rest of Europe
Asia-Pacific
Japan
China
India
Rest of Asia-Pacific
© P&S Market Research. All rights reserved
4
Domestic Refrigeration Appliances Market Analysis, Development, Growth and Demand Forecast to 2020
•
Rest of the World
Brazil
Other
About P&S Market Research P&S Market Research is a global market research and consulting company. We provide market research reports, industry reports, business intelligence and research based consulting services across a range of industries. With the help of our professional corporate relations with various companies, our market research offers the most accurate market forecasting. Our analysts and consultants interact with leading companies of the concerned domain to substantiate every single data presented in our publication. Our research assists our client in identifying new and different windows of opportunity and frame informed and customized strategies for expansion in different regions.
Contact: Abhishek Executive – Client Partner 347, 5th Ave. #1402 New York City, NY - 10016 US/ Canada Toll-Free: 1-888-778-7886 Email: enquiry@psmarketresearch.com Web: https://www.psmarketresearch.com
© P&S Market Research. All rights reserved
5