What's Driving the Household Refrigerators and Freezers Market Growth? Electrolux, GE, Samsung Electronics, Whirlpool Corporation, Haier, LG Electronics, Panasonic, Dacor

Global household refrigerators and freezers market size will reach over USD 78.22 billion by 2025. The surge in disposable income at hand has accelerated the purchasing power of consumers, especially across the developing nations, which will boost the demand for the product in the region.

The presence of various global competitors providing new technologies that lower energy consumption per year will drive household refrigerators and freezers market trends in the coming years. The U.S. Department of Energy has taken several initiatives regarding the growth of energy efficiency which has resulted in the consumers being able to save significantly on electric bills.

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A major rise in consumer awareness concerning energy consumption has been observed, along with the benefits and the differences in cost with the introduction of energy efficiency labels. This has greatly encouraged consumers to keep a track of energy use for home appliances.

Rapid globalization has resulted in the rise in automation of business processes across various industries. This has helped make manufacturing economical as it has enabled the firms to lower the cost of all the appliances for the consumers across the world.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Electrolux
2. Aucma Co., Ltd.
3. Dacor
4. Frigidaire Home Products
5. GE
6. Robert Bosch Ltd
7. Samsung Electronics
8. Whirlpool Corporation
9. Haier
10. LG Electronics
11. Panasonic

The manufacturers are increasingly shifting their focus on a majority of the rural population base in emerging economies as this market is largely left untapped. This will prove to be an opportunity for the manufacturers which will foster household refrigerators and freezers market share in the forecast timeframe. There are several applications that necessitate the use of refrigerators like packaging, preserving and storing food across different environments.

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The demand for frost-free fridge has been experiencing a steep growth over the past few years on account of the steady increase in the purchase capacity of consumers. Multiple companies have placed their focus on the high-end spectrum by having launched premium products.

Surging numbers of double-income families, who have been choosing to own refrigerators with larger space storage, has resulted in a huge demand and popularity of high capacity side-by-side fridges among the upper-middle-class population. Moreover, maintenance free compressors, availability of easy financing options and an increased life cycle will be accelerating household refrigerators and freezers market share in the forthcoming years.

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