SAN FRANCISCO, November 20, 2018
SAN FRANCISCO, November 20, 2018 /PRNewswire/ --
The global household refrigerators and freezers market size is expected to reach USD 125.68 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.8% during the forecast period. Growing investments in innovation of refrigerators units and rising income levels coupled with decline in product prices with high specifications availability are some of the key trends stimulating market growth. The refrigerator and freezer market is growing steadily with significant rise in rising consumer spending power and ease of financing schemes. Increasing inclination towards sophisticated brands is also likely to bolster the growth of the market over the coming years.
Household refrigerators and freezers buyers are very sensitive about costs associated and are often subject to buying inappropriate models with low prices and high electricity consumption. In such cases, they often end up buying refrigerators and freezers that are not considered energy efficient. Energy efficient models help in reducing electricity consumption and ultimately reduce costs related to units. Easily available consumer loans and other purchase schemes are expected to give a moral boost to price-sensitive consumers. In addition, attractive schemes presented by financial institutions and commercial banks are gaining attention of price sensitive consumers.
Increasing electrification and wide usage of internet sales are expected to propel the market for household refrigerators and freezers in rural and semi-urban areas. Furthermore, increasing nuclear families count and environmental changes are anticipated to boost the growth of the overall market. Urban families prefer to cook large meals ahead of time, which augments the necessity of a household refrigerator unit. Also, consumers prefer separate refrigerator units to store beverages.
Browse full research report with TOC on "Household Refrigerators And Freezers Market Analysis Report By Refrigerator Door Type (Single Door, Double Door, Side by Side Door, French Door), By Freezer Location, And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/household-refrigerators-freezers-market
Further Key Findings From the Report Suggest:
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Grand View Research has segmented the global household refrigerators and freezers market on the basis of refrigerator door type, freezer location, and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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