Global Refrigerator Market Size Analysis Report - Market Share, Forecast Trends and Outlook (2024-2032)

Market Share by Distribution Channels

According to refrigerator market research, speciality retailers give a full demo before selling the product which tends to satisfy concerns of customers and are hence preferred by many consumers. Refrigerators are easily available at supermarkets and buyers can check every detail giving a sense of satisfaction while buying the product. Online stores have also gained popularity because of the offers and discounts that are provided with return options available too. The wide range of purchasing options available are surging the global refrigerator market size. With increasing availability and accessibility of refrigerators across various distribution channels, consumers are more likely to purchase new and improved models of refrigerators.

Market Share by Region

Asia Pacific is projected to dominate the market with a larger refrigerator market share due to its vast population and increase in individual households. The region's growing need for infrastructure will enhance the demand for home appliance products. Strong demand for smart appliances to replace traditional appliances, rising disposable income, rapid urbanisation, and the growing number of households are additional key factors propelling market expansion in the Asia Pacific.

Additionally, the region is a manufacturing hub with the headquarters of many top industry players, including Panasonic Corp., LG Electronics, Samsung, and Haier Group. Programmes by governments in developing nations like Bangladesh, India, Nepal, Indonesia, and the Philippines to electrify rural areas would help the regional market expand. The commercial refrigeration market share is also expected to expand in the Asia Pacific, with an increasing number of restaurants and food service businesses opening in the region.

North America is projected to hold a significant portion of the market due to the rise in disposable income in countries like the United States and Canada. The US refrigerator market share is relatively large as families tend to buy groceries in bulk, utilising large refrigerators for high volume grocery storage. Additionally, factors like the region's massive metropolitan population base will encourage more people to use such equipment. This will likely increase the US refrigerator market size. The growing trend of meal planning in the United States, with working people preparing meals in advance and freezing them for instant use, is also expanding the U.S. refrigerator market size.

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