US Household Refrigerators Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 0.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Household Refrigerators Market Analysis
The US household refrigerator market is expected to register a growth, in the upcoming years. Refrigerators and freezers hold a prominent position in the home appliance segment. A household refrigerator is an appliance that is primarily used for food storage and for protecting the food from contamination.
The market size of the refrigerator manufacturing industry in the United States remained steady in 2019, as compared to another consumer goods sector. The rise in disposable income, growing investment in innovation of refrigerator units, coupled with a decline in product prices, are some of the key factors driving the growth of household refrigerator appliances. Some of the other factors influencing the market are replacement due to necessity, the credit market for consumers, and the general wellbeing of the economy.
The headwind for the growth of the market in the United States is high competition from imports of the product. The demand for smart refrigeration appliances, such as those connected with the internet, touch screen, sensors, etc., are gaining popularity in the market. Moreover, government regulation is also driving the transformation in the industry with more energy-efficient and less electricity consumption products being promoted, in order to meet environmental concerns.
US Household Refrigerators Market Trends
This section covers the major market trends shaping the US Household Refrigerators Market according to our research experts:
Increase in Number of Smart Homes in United States is Driving the Market for Smart Refrigerators
The number of households adopting smart technology appliances is on the rise in the US market, thus, leading to the use of more smart refrigerators than the usual ones. The smart refrigerators have all the features of non-smart refrigerators with additional new features, which make them more convenient and unique. Smart features, such as a product with a touch screen that converts to a transparent panel by the knock, recipe recommendation features, and integration with the Alexa, are gaining popularity.
The smart tag technology allows the person to tag items with information, such as the expiratory date of food items, which then warns the user when the date approaches have been introduced in the market. The consumers in the market are also trying to adapt to the technology changes in the product, and they are also demanding new features with every innovation.
Growth in New Housing Starts to Spur the Demand of Refrigerators in the Country
New housing construction in the country is the major factor driving the demand for refrigerators. Housing starts represents the level of new household construction activity, as new houses are built the demand for new refrigerators and freezers rises. Housing starts increased in the United States in 2018, which has continued the trend in 2019 and may serve as a potential opportunity for the industry. Also, as more people move into new houses, the demand for appliances, such as freezers and refrigerators, also rises.
US Household Refrigerators Industry Overview
The Household Refrigerator market in the United States is fragmented with several large domestic and global companies in the market. Many players in the industry have strong brand recognition, compete aggressively in the market, and sell a wide variety of refrigerator appliances. However, due to the high cost of manufacturing in the United States, many companies opt for outsourcing these products that are less expensive. Players are trying to come up with new refrigerator models, which have a minimum impact on the environment. Strategies, such as the launch of new product models by the different players, are adopted to remain competitive in the market.
US Household Refrigerators Market Leaders
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Whirlpool Corporation
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Hisense
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AB Electrolux
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Haier Group Corporation
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Dover Corporation
*Disclaimer: Major Players sorted in no particular order
US Household Refrigerators Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
- 4.2 United States Household Refrigerator Market vs Global Household Refrigerator Market
- 4.3 Popularity by Refrigerator Type
- 4.4 Insights on Consumer Spending on Refrigerators by Price Range
- 4.5 Insights on Volume of Imports and Exports by the Country
- 4.6 Insights on Power Consumed by Refrigerators
- 4.7 Technological Innovations and Developments in the Market
5. MARKET DYNAMICS
- 5.1 Drivers
- 5.2 Restraints / Challenges
- 5.3 Opportunities
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5.4 Industry Attractiveness - Porter's Five Forces Analysis
- 5.4.1 Threat of New Entrants
- 5.4.2 Bargaining Power of Buyers/Consumers
- 5.4.3 Bargaining Power of Suppliers
- 5.4.4 Threat of Substitute Products
- 5.4.5 Intensity of Competitive Rivalry
6. MARKET SEGMENTATION (2016-2019) AND FUTURE OUTLOOK
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6.1 By Type
- 6.1.1 Bottom-freeze Refrigerators/Top-freeze Refrigerators
- 6.1.2 Side-by-side freezers Refrigerator
- 6.1.3 French Door Refrigerator
- 6.1.4 Counter-depth Refrigerator
- 6.1.5 Chest Freezers
- 6.1.6 Other Types
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6.2 By Application
- 6.2.1 Frozen Vegetable and Fruit
- 6.2.2 Frozen Meat
- 6.2.3 Other Applications
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6.3 By Distribution Channel
- 6.3.1 Specialty Stores
- 6.3.2 Supermarkets/Hypermarkets
- 6.3.3 Online
- 6.3.4 Other Distribution Channels
7. COMPETITVE LANDSCAPE
- 7.1 Market Concentration
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7.2 Company Profiles
- 7.2.1 Whirlpool Corporation
- 7.2.2 Haier Group Corporation
- 7.2.3 Hisense
- 7.2.4 Dover Corporation
- 7.2.5 AB Electrolux
- 7.2.6 LG Electronics Inc.
- 7.2.7 Panasonic Corporation
- 7.2.8 Philips Electronics
- 7.2.9 Robert Bosch GmbH
- 7.2.10 Samsung Electronics
- 7.2.11 Siemens Group
- *List Not Exhaustive
8. FUTURE OF THE MARKET AND ANALYST RECOMMENDATIONS
9. INVESTMENT ANALYSIS
10. APPENDIX
US Household Refrigerators Industry Segmentation
The study on the US household refrigerators market provides a comprehensive evaluation of the market with market segmentation. The report also focuses on the exhaustive trends in import/export, production, consumption, and volumes data of the product. Moreover, the competitive profile of the key manufacturers, along with insights on government regulations, are also provided.
| By Type | Bottom-freeze Refrigerators/Top-freeze Refrigerators |
| Side-by-side freezers Refrigerator | |
| French Door Refrigerator | |
| Counter-depth Refrigerator | |
| Chest Freezers | |
| Other Types | |
| By Application | Frozen Vegetable and Fruit |
| Frozen Meat | |
| Other Applications | |
| By Distribution Channel | Specialty Stores |
| Supermarkets/Hypermarkets | |
| Online | |
| Other Distribution Channels |
US Household Refrigerators Market Research FAQs
What is the current United States Household Refrigerators Market size?
The United States Household Refrigerators Market is projected to register a CAGR of greater than 0.5% during the forecast period (2024-2029)
Who are the key players in United States Household Refrigerators Market?
Whirlpool Corporation, Hisense, AB Electrolux, Haier Group Corporation and Dover Corporation are the major companies operating in the United States Household Refrigerators Market.
What years does this United States Household Refrigerators Market cover?
The report covers the United States Household Refrigerators Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the United States Household Refrigerators Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
U.S. Household Refrigerators Industry Report
Statistics for the 2023 U.S. Household Refrigerators market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. U.S. Household Refrigerators analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
