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) | 5.12 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Household Side By Side Refrigerator Market Analysis
The Household Side By Side Refrigerator Market is expected to register a CAGR of 5.12% during the forecast period.
Side-by-side refrigerator units help in the convenient storing of items from top to bottom, allowing for effective arrangement of commonly accessed ingredients or beverages at the top for easy access. There is no need to bend down to grab everyday items. The refrigerator has become a daily need in many families throughout the world. Because of the fierce competition in the market, manufacturers have been forced to upgrade their goods to keep customers interested and urge them to replace their old refrigerators with contemporary ones. Since then, new technological and design developments have replaced traditional units, providing the market with endless potential.
Increasing consumer preferences for stylish and modern kitchen appliances, coupled with the growing demand for larger storage capacities, are key factors driving the market's growth. Additionally, advancements in technology have led to the availability of innovative features in side-by-side refrigerators, such as touchscreen displays, smart connectivity, and energy-efficient systems. These advanced features are further pushing the market forward. The rising urbanization, improving living standards, and changing lifestyles of consumers, especially in emerging economies, are boosting the demand for side-by-side refrigerators. The increasing need for convenience, the desire for aesthetically pleasing kitchen appliances, and the growing focus on energy-efficient products are additional factors contributing to the market's growth.
Household Side By Side Refrigerator Market Trends
Rising Sales Through Online Channels
Over the years revenue of global refrigerator sales has observed a continuous increase with a continuous increase in market online revenue share existing at a level of more than 22%. This rise in online sales of refrigerators is leading to an increasing number of manufacturers as well as retailers offering their products through various e-commerce channels or direct websites. Whirlpool, Haier, Midea, LG, Electrolux, and Miele have emerged as manufacturers with a global reach and offer their products through a wide range of digital marketing channels as well as e-commerce. In addition, a further rise in the number of users buying electronics through E-commerce channels is driving the market for side-by-side furniture online sales. A major share of online demand is emerging from metropolitan cities, which exist with a higher level of income as well as employment. These trends are making side-by-side refrigerators a major segment of home appliances.
North America Accounts for the Largest Market Share
North America accounted for a substantial share of the household refrigerators and freezers market. The factors contributing to the overall market growth are the rising demand for multiple refrigerator and freezer units from the food and beverage industries and a growing number of nuclear families. The United States and Canada are the major consumers of household refrigerators and freezers in the North American region, with refrigerators in the region having a significant share in major household appliances existing at more than 25% at a value of more than USD 12 Billion. In addition, rising household income and employment in the region lead people to opt for premium refrigerators, which are side-by-side refrigerators in the market. These trends are comparatively leading to a rise in sales of side-by-side refrigerators in the North American market.
Household Side By Side Refrigerator Industry Overview
The household side-by-side refrigerator market is fragmented. The side-by-side fridge freezer market is witnessing several emerging trends. There is a growing demand for energy-efficient and environmentally friendly appliances as consumers become more aware of sustainability. Smart features and connectivity options are becoming increasingly common, allowing users to control and monitor their fridge freezers remotely. The major players are - Haier Group Corporation, Dacor Inc., Philips Electronics, Whirlpool Corporation and Robert Bosch GmbH.
Household Side By Side Refrigerator Market Leaders
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Haier Group Corporation
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Dacor Inc
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Philips Electronics
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Whirlpool Corporation
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Robert Bosch GmbH
*Disclaimer: Major Players sorted in no particular order
Household Side By Side Refrigerator Market News
- January 2023: LG Electronics (LG) unveiled its groundbreaking MoodUP refrigerator with color-changing LED door panels. The product features color-changing LED door panels and a built-in speaker to play music. Users can choose from 22 colors for the upper and 19 for the lower door panels.
- June 2022: Samsung announced its 2022 lineup of the company’s Curd Maestro and Digi Touch Cool refrigerators with an “India-centric design." The product aims to address the pain points of daily curd making and is designed to upgrade the traditional usage of a refrigerator.
Household Side By Side Refrigerator Market 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 Rising Household Incomes
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4.3 Market Restraints
- 4.3.1 Higher Repair and Maintenance Costs
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4.4 Market Opportunities
- 4.4.1 Technological Advancements in Side By Side Refrigerator
- 4.5 Industry Value Chain Analysis
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4.6 Industry Attractiveness - Porter's Five Forces Analysis
- 4.6.1 Threat of New Entrants
- 4.6.2 Bargaining Power of Buyers
- 4.6.3 Bargaining Power of Suppliers
- 4.6.4 Threat of Substitutes
- 4.6.5 Intensity of Competitive Rivalry
- 4.7 Insights on technology innovation in the Market.
- 4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 By Type
- 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 End Users
- 5.2.1 Commercial
- 5.2.2 Residential
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5.3 By Distribution Channel
- 5.3.1 Multi Branded Stores
- 5.3.2 Supermarkets/ Hypermarkets
- 5.3.3 Exclusive Stores
- 5.3.4 Online
- 5.3.5 Others
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5.4 By Geography
- 5.4.1 North America
- 5.4.1.1 USA
- 5.4.1.2 Canada
- 5.4.1.3 Rest of North America
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 Rest of Europe
- 5.4.3 Asia Pacific
- 5.4.3.1 India
- 5.4.3.2 China
- 5.4.3.3 Rest of Asia Pacific
- 5.4.4 Latin America
- 5.4.4.1 Brazil
- 5.4.4.2 Chile
- 5.4.4.3 Rest of Latin America
- 5.4.5 Middle East and Africa
- 5.4.5.1 UAE
- 5.4.5.2 Saudi Arabia
- 5.4.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concetration Overview
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6.2 Company Profiles
- 6.2.1 Philips
- 6.2.2 Haier Group Corporation
- 6.2.3 Dacor Inc
- 6.2.4 Whirlpool Corporation
- 6.2.5 Robert Bosch GmbH
- 6.2.6 Samsung
- 6.2.7 AB Electrolux
- 6.2.8 LG
- 6.2.9 Godrej Industries Ltd.
- 6.2.10 Panasonic Corporation*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Household Side By Side Refrigerator Industry Segmentation
Side-by-side refrigerators are a type of household appliance that typically feature a freezer compartment on one side and a refrigerator compartment on the other, with both sections placed vertically side by side. These refrigerators usually have a similar amount of storage space for both freezer and fresh food items, providing easy access to both compartments. The study gives a brief description of the household side-by-side refrigerator market. It includes details on market sales of different types of side-by-side refrigerators, investments by the manufacturers, and the launch of new side-by-side refrigerators.
The household side-by-side refrigerator market is segmented by type, by end-user, by distribution channel, and by geography. By type the market is segmented into under 15 cu.ft., 15-20 cu. Ft., 20-25 cu.ft., and above 25 cu. Ft. By end user, the market is segmented into residential and commercial. By distribution channel, the market is segmented into multi-branded stores, supermarkets/ hypermarkets, exclusive stores, online, and others. By geography, the market is segmented into North America, the USA, Canada, and the Rest of North America. The report offers market size and forecasts for the household side-by-side refrigerator market in value (USD) for all the above segments.
| By Type | Under 15 cu.ft. | |
| 15-20 cu. ft. | ||
| 20-25 cu.ft. | ||
| Above 25 cu. ft. | ||
| By End Users | Commercial | |
| Residential | ||
| By Distribution Channel | Multi Branded Stores | |
| Supermarkets/ Hypermarkets | ||
| Exclusive Stores | ||
| Online | ||
| Others | ||
| By Geography | North America | USA |
| Canada | ||
| Rest of North America | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| Rest of Europe | ||
| By Geography | Asia Pacific | India |
| China | ||
| Rest of Asia Pacific | ||
| By Geography | Latin America | Brazil |
| Chile | ||
| Rest of Latin America | ||
| By Geography | Middle East and Africa | UAE |
| Saudi Arabia | ||
| Rest of Middle East and Africa |
Household Side By Side Refrigerator Market Research FAQs
What is the current Household Side By Side Refrigerator Market size?
The Household Side By Side Refrigerator Market is projected to register a CAGR of 5.12% during the forecast period (2024-2029)
Who are the key players in Household Side By Side Refrigerator Market?
Haier Group Corporation, Dacor Inc, Philips Electronics, Whirlpool Corporation and Robert Bosch GmbH are the major companies operating in the Household Side By Side Refrigerator Market.
What years does this Household Side By Side Refrigerator Market cover?
The report covers the Household Side By Side Refrigerator Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Household Side By Side Refrigerator Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Household Side By Side Refrigerator Industry Report
Statistics for the 2024 Household Side By Side Refrigerator market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. 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.
