The global refrigerator market is forecast to grow at a CAGR of 4.5% during the period 2016-2020.
According to the report, warmer or hotter weather condition is the primary driver for the refrigerator market. The hot and humid weather conditions have made consumers increasingly concerned about food spoilage and hygiene levels (for cooked food, perishable food items, beverages, and others) and have generated the demand for efficient refrigerators.
The low temperatures inside the refrigerator slow down the growth of microorganisms and the rate of chemical (including enzymes) changes in food. This allows for food storage for a few days until consumption.
Further, the report states that the high cost of refrigerator types like freezer-on-bottom refrigerators and smart connected refrigerators is hindering the growth of the market.
The prices offered by global players are very high, which pose a significant challenge as most end-users in developing countries (like India and China) are reluctant to make such premium purchases, which affects the overall revenue of the global refrigerator market. The high cost of these refrigerators allows only the elite section of the population to adopt these refrigerators.
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- LG Electronics
- Samsung Electronics
- Mitsubishi Electric
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by freezer location
PART 07: Market segmentation by door type
PART 08: Market segmentation by distribution channel
PART 09: Geographical segmentation
PART 10: Key leading countries
PART 11: Market drivers
PART 12: Impact of drivers
PART 13: Market challenges
PART 14: Impact of drivers and challenges
PART 15: Market trends
PART 16: Vendor landscape
PART 17: Key vendor analysis
PART 18: Appendix
PART 19: About the Author
For more information about this report visit http://www.researchandmarkets.com/research/7v4mq9/global
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets