Household Refrigerators & Freezers Market to expand $78.2bn by 2025: Fractovia.org The report “Household Refrigerators And Freezers Market Size By Product (Top Mounted Freezer, Bottom Mounted, Side-By-Side, French Door Bottom Freezer), Industry Analysis Report, Regional Outlook (U.S., Canada, Russia, Belarus, Kazakhstan, Armenia, Kyrgyzstan, Azerbaijan, Moldova, Tajikistan, Turkmenistan, Ukraine, Uzbekistan, China, India, Japan, Brazil, Mexico, Middle East, Africa), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2025�, says that report by Global Market Insights, Inc. household refrigerators and freezers market forecast to grow at 2.7% CAGR from 2016 to 2025 to surpass USD 78.2 billion by 2023 Household refrigerators and freezers market is expected to witness a lucrative growth, subject to strict norms governing energy consumption. The refrigerators introduced in 2011 consumed only one-fourth of energy during operations as compared to the models that were launched in 1975. Thus, the need to reduce energy consumption have forced the industry players to now increase the size of a refrigerator by twenty percent. Manufacturers are constantly trying to develop energy efficient refrigerators by investing heavily in R&D activities, thereby creating high growth prospects for the business. Additionally, hefty government investments for promoting electrification programs in remote areas is also predicted to boost the market demand.
Taking into consideration the geographical trends, U.S. household refrigerators and freezers industry, which contributed notably toward North America industry share in 2015, is anticipated to grow prominently over the years to come. Growing consumer awareness toward maintaining a green environment coupled with the deployment of advanced technologies that contribute toward cost reduction and energy conservation will drive U.S. household refrigerators and freezers market size. Growing inclination toward the utilization of energy efficient products along with the rise in per capita income of consumers is projected to upswing Europe household refrigerators and freezers market size over the years to come. French door bottom refrigerators, top mounted freezers, side-by-side freezers, and bottom mounted freezers are the major products in household refrigerators and freezers market. High capacity side-by-side freezers industry size is expected to grow at a rate of 4% during the period of 2016-2025, driven by escalating preference for high storage space and the rising demand for frozen foods among the urban population base. 1|Page