The global household refrigerators and freezers market is expected to witness a high growth in the coming years on account of rising initiatives for achieving energy efficiency by the governments across countries and the growing spending capacity of consumers. Manufacturers are striving to meet the standards and are thus manufacturing efficient products. They are also offering user-friendly features, such as water tap on the door, through-the-door-ice, and similar other technological advancements. The pairing of refrigerators with smartphones will be another trend, driving the growth of this market. The growth of this market can also be attributed to the growing trend of having nuclear families and high disposable incomes, which has resulted in the want for improved lifestyle products across the globe. Players in the market are concentrating on improving the structure of the equipment from the inside, and research and development is being carried out to bring about these improvements and innovations. The growing culture of packaged food and irregular eating habits among the urban population has caused an exponential surge during the forecast period of 2017–2025. French door bottom-freezer refrigerators account for the maximum market shares, although side-by-side refrigerators are projected for the best growth rate. The rising demand for higher capacity and frost-free products is a trend that must be noted by the players; besides focusing on the higher-end spectrum or premium products that ultimately offer higher profit.
The market for the dealer fraternity is getting tougher by the day on the back of highly competitive environment. Despite all challenging factors, we are bullish on gaining back our...Read More