The global refrigerator accessories Market is estimated to be worth USD 18.9 billion in 2018 and is projected to reach USD 24.2 billion by 2028, growing at a CAGR of 3.8% from 2018-2028. The demand for refrigerators has increased globally due to the changing lifestyles, increasing middle class population, increasing purchasing power and rising awareness about food safety among consumers which can be attributed as the major drivers for this market during the forecast period.
On basis of type, the market can be segmented into refrigerator door handles, freezer con asas, ice makers, fridge-cool fans and universal mobile bases. On basis of application it can be classified into household applications and commercial applications. The refrigerators are mainly used in households to store food items which leads to a higher demand for refrigerator accessories such as freezer con asas or ice maker that will increase the revenue generated by this market during forecast period
Refrigerator Invertor is another type of accessory representing an important source of income for global refrigerator accessories Market worth USD 425 million in 2018 growing at a CAGR of 12% from 2018-2028 with North America being its major contributor followed by Europe and Asia Pacific respectively. Asia Pacific is expected to grow at a CAGR of 11% during forecast period on account for increasing demand from China and India. The main reason for this is the rise in population and rapid urbanization.
On account for household refrigerators being more used than those at commercial places or laboratories; it has been seen that majority of revenues generated are contributed by households thereby leading to an increase in demand for Household application which also leads to a higher growth rate (14%) Seen during forecast period . Commercial segment is expected to grow at a CAGR of 11% during forecast period on account for increase in demand from the wholesale and retail traders. Laboratories are expected to see an increasing trend, as it is seen that there has been increased research activities around refrigeration, which leads to commercialization
In Europe region, Fridge Cool Fan segment dominates this market with 32% share followed by Freezer Con Asas (14%) during 2018-2028. In North America region, Ice Maker segment dominates this market with 33% share followed by Refrigerator Door Handle (12%)during 2018-2028 . Asia Pacific sees Universal Mobile Base being its most dominant type of application followed by Water Filter segment. Lab Use were not considered because they don't have a huge market share in the region.
The market is driven by factors such as increasing use of household appliances, increasing population and economic growth in certain regions. Disadvantages of using refrigerators include noise pollution caused by the cooling system which can cause discomfort, frostbite hazards for sensitive skin due to low temperatures. Change in lifestyle has also led to increase in the demand for refrigerators. The major players operating in this market are Whirlpool Corporation (U.S.), LG Electronics Inc., Samsung SDI Co Ltd, Bosch Thermotechnology GmbH, Electrolux AB and Emerson Electric Company among others.
Up Market Research published a new report titled “refrigerator accessories Market research report which is segmented by Types (Refrigerator Door Handle, Freezer Con Asas, Ice Maker, FridgeCool Fan, Universal Mobile Base, Water Filter, Refrigerator Invertor, Heating Element, Compressor Relay), By Applications (Household, Commercial, Laboratory Use, Others), By Players/Companies Panasonic, Philipp Kirsch, Oxford Instruments, Thermo Scientific, LG, KW, Haier, Electrolux, Samsung, Whirlpool, Robert Bosch, Godrej”.
Report Attributes | Report Details |
Report Title | refrigerator accessories Market Research Report |
By Type | Refrigerator Door Handle, Freezer Con Asas, Ice Maker, FridgeCool Fan, Universal Mobile Base, Water Filter, Refrigerator Invertor, Heating Element, Compressor Relay |
By Application | Household, Commercial, Laboratory Use, Others |
By Companies | Panasonic, Philipp Kirsch, Oxford Instruments, Thermo Scientific, LG, KW, Haier, Electrolux, Samsung, Whirlpool, Robert Bosch, Godrej |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 226 |
Number of Tables & Figures | 159 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Refrigerator Door Handle, Freezer Con Asas, Ice Maker, FridgeCool Fan, Universal Mobile Base, Water Filter, Refrigerator Invertor, Heating Element, Compressor Relay and By Application Household, Commercial, Laboratory Use, Others.
Some of the companies that are profiled in this report are:
refrigerator accessories Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the refrigerator accessories Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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