Europe Household Side-by-Side Refrigerator Market Size
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2020 - 2022 |
CAGR (2024 - 2029) | 3.00 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Europe Household Side-by-Side Refrigerator Market Analysis
The Europe Household Side By Side Refrigerator Market is expected to register a CAGR of 3% during the forecast period(2024-2029).
Europe is the second largest region in the global refrigerator market. The growth of the market is driven by the growing preference of consumers for smart appliances in the home, including refrigerators. In addition, the high disposable income of the consumers, the penetration of smartphones, and the availability of high-speed Internet will also drive the market growth of advanced featured refrigerators across the region. Sales of household refrigerators through specialist distribution formats such as electronics & appliance specialist retailers but also home & garden specialist retailers have tended to decrease during the review period. E-commerce is rapidly gaining retail volume shares in the refrigeration appliances market. It is convenient and easy for consumers to browse models online or through showrooms and then purchase through e-commerce, especially in the case of freestanding appliances. The market growth of refrigeration appliances is driven by the increasing preference of consumers for smart appliances, including fridges, in the home. The high disposable income of consumers, the prevalence of smartphones, and the availability of high-speed Internet will also drive the growth of refrigerators in the region.
In most European countries, the products that a local vendor manufactures have comparatively better preference than that of the others, which clearly signifies their preference to encourage their domestic market. Local manufacturers can never get a good market share unless the products are qualitative are have affordable prices. This, in short, can be explained as the Europeans prefer to use products that have features like flexibility, multi-utilization/ multi-functional features, convenience to use, eco-friendly, less energy-utilization, and are of low/reasonable cost.
Post-COVID-19, the refrigeration appliances saw growth in retail volume sales sped up slightly from the previous year. The fact that some households sought to stockpile food during the early stages of the pandemic due to the perceived risk of shortages increased demand for these appliances. Furthermore, the introduction of new products by the market players will drive the market growth. Many market players are investing in research and development of eco-friendly and innovative products in the market. Moreover, manufacturers in Europe are focusing on launching and introducing new products to diversify their product portfolios and expand manufacturing & distribution in the region.
Europe Household Side-by-Side Refrigerator Market Trends
The Growing Trend of Smart Kitchens is Positively Influencing the Market
The growing trend of smart kitchens is directly influencing the growth of the household side by side refrigerator market. It is leading to a changing purchasing pattern of the consumer for their kitchen. A surge in the residential side of the market is also driving the market growth. The population is growing in many developed countries due to the increasing number of immigrants from different countries. An increase in the number of working individuals, nuclear families, single-person homes, and job migration has resulted in an increase in the purchase of home appliances. Therefore, the number of household consumption also increased, which is propelling the market demand for side by side refrigerator market.
Online Segment is Driving the Market
The online segment is expected to witness rapid growth during the forecast period owing to the high penetration of the Internet and smartphones, along with technological advancements, changes in shopping behavior due to digitalization, availability of a wide range of products, and a wide range of discounts and offers on online shopping sites. In addition, improvements in after-sales services have provided an impetus to the refrigerator market growth. Manufacturers are working with several other companies to ensure timely delivery and installation after the online sales of the product.
Europe Household Side-by-Side Refrigerator Industry Overview
Europe's household side by side refrigerator market is fragmented in nature as a large number of manufacturers are operating in this industry. Some prominent players are Bosch Group, Electrolux AB, Samsung Electronics Co. Ltd., Whirlpool Corp., LG, General Electric Co., and Haier Group Corp., among others. The key manufacturers have been adopting mergers and acquisitions and new product development strategies to strengthen their presence and distribution channels and, thereby, gain a higher market share.
Europe Household Side-by-Side Refrigerator Market Leaders
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Bosch Group
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Electrolux AB
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LG
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Whirlpool
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Samsung
*Disclaimer: Major Players sorted in no particular order
Europe Household Side-by-Side Refrigerator Market News
- August 2023: LG Electronics Inc. announced it is targeting the European market by releasing home appliances that exceed the highest grades of energy efficiency. The company rolled out new high-efficiency home appliances such as washers, dryers, refrigerators, and dishwashers at this year's IFA.
- January 2023: Samsung Electronics announced the global launch of the Bespoke Infinite Line Refrigerator in select markets around the world. Having originally launched in Europe, the Bespoke Infinite Line Refrigerator will likely expand to countries including Mexico, Thailand, and Australia by the end of the year.
Europe Household Side By Side RefrigeratorMarket Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Growing Consumption of Frozen Food Products is Driving the Market
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4.3 Market Restraints
- 4.3.1 Rising Awareness on Environmental Protection to Hinder the Market Growth
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4.4 Market Opportunities
- 4.4.1 Eco-friendly and Energy Efficiency Refrigerators
- 4.4.2 Introduction of New Products by Companies with Smart Technology
- 4.5 Industry Value Chain Analysis
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4.6 Industry Attractiveness - Porter's Five Forces Analysis
- 4.6.1 Bargaining Power of Suppliers
- 4.6.2 Bargaining Power of Buyers/Consumers
- 4.6.3 Threat of New Entrants
- 4.6.4 Threat of Substitutes
- 4.6.5 Intensity of Competitive Rivalry
- 4.7 Insights on Impact of Technology in the Market
- 4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 By Application
- 5.1.1 Under 15 cu.ft.
- 5.1.2 15-20 cu.ft.
- 5.1.3 20-25 cu.ft.
- 5.1.4 Above 25 cu.ft.
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5.2 By Distribution
- 5.2.1 Speciality Stores
- 5.2.2 Supermarkets/ Hypermarkets
- 5.2.3 Online Stores
- 5.2.4 Other Distribution Channels
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5.3 By Country
- 5.3.1 United Kingdom
- 5.3.2 France
- 5.3.3 Italy
- 5.3.4 Germany
- 5.3.5 Spain
- 5.3.6 Rest of Europe
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
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6.2 Company Profiles
- 6.2.1 Bosch Group
- 6.2.2 Electrolux AB
- 6.2.3 LG
- 6.2.4 Whirlpool
- 6.2.5 Samsung
- 6.2.6 General Electric Co
- 6.2.7 Haier Group
- 6.2.8 Liebherr-Hausger te Ochsenhausen GmbH
- 6.2.9 Midea
- 6.2.10 Miele
- 6.2.11 Brandt*
- *List Not Exhaustive
7. FUTURE OF THE MARKET
8. DISCLAIMER AND ABOUT US
** Subject To AvailablityEurope Household Side-by-Side Refrigerator Industry Segmentation
Side-by-side refrigerators feature two separate compartments, each with its own door. One side is the freezer compartment, while the other is the fresh food compartment. This report covers the complete background analysis of the European household side by side refrigerator market, which includes an assessment of the economy, a market overview, market size estimation for key segments, emerging trends in the market, market dynamics, and key company profiles.
Europe's household side by side refrigerator market is segmented on the basis of type (under 15 cu.ft., 15-20 cu.ft., 20-25 cu.ft., and above 25 cu.ft.), distribution channel (hypermarkets/supermarkets, specialty stores, online, and offline), and country (United Kingdom, France, Italy, Germany, Spain, and the Rest of Europe).
The market size and forecasts are provided in terms of value (USD) for all the above segments.
By Application | Under 15 cu.ft. |
15-20 cu.ft. | |
20-25 cu.ft. | |
Above 25 cu.ft. | |
By Distribution | Speciality Stores |
Supermarkets/ Hypermarkets | |
Online Stores | |
Other Distribution Channels | |
By Country | United Kingdom |
France | |
Italy | |
Germany | |
Spain | |
Rest of Europe |
Europe Household Side By Side RefrigeratorMarket Research FAQs
What is the current Europe Household Side By Side Refrigerator Market size?
The Europe Household Side By Side Refrigerator Market is projected to register a CAGR of 3% during the forecast period (2024-2029)
Who are the key players in Europe Household Side By Side Refrigerator Market?
Bosch Group, Electrolux AB, LG, Whirlpool and Samsung are the major companies operating in the Europe Household Side By Side Refrigerator Market.
What years does this Europe Household Side By Side Refrigerator Market cover?
The report covers the Europe Household Side By Side Refrigerator Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Europe Household Side By Side Refrigerator Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Household Side By Side RefrigeratorIndustry Report
Statistics for the 2024 Europe Household Side By Side Refrigerator market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Household Side By Side Refrigerator analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.