Market Size of United States Household Refrigerators Industry
| 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 |
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 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 |
United States Household Refrigerators Market Size Summary
The US household refrigerator market is poised for growth, driven by factors such as increasing disposable income, investments in innovative refrigerator technologies, and declining product prices. Refrigerators and freezers are essential components of the home appliance sector, primarily used for food storage and contamination prevention. The market's stability in recent years contrasts with the dynamic nature of other consumer goods sectors. Key drivers of market expansion include the necessity for replacements, consumer credit availability, and overall economic health. However, the market faces challenges from intense competition with imported products. The rising demand for smart refrigeration appliances, which offer features like internet connectivity, touch screens, and sensors, is reshaping the market landscape. Government regulations promoting energy-efficient products further influence industry transformation, aligning with environmental concerns.
The adoption of smart technology in household appliances is increasing, with smart refrigerators offering enhanced convenience and unique features such as transparent panels, recipe recommendations, and integration with smart home systems like Alexa. Innovations like smart tag technology, which alerts users about food expiration dates, are gaining traction. The demand for refrigerators is also bolstered by new housing construction, as increased housing starts lead to a higher need for household appliances. The US market is fragmented, with numerous domestic and global companies competing aggressively. Despite high manufacturing costs, many companies outsource production to remain competitive. Players in the market are focusing on launching new, environmentally friendly refrigerator models to maintain their market position.
United States Household Refrigerators Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 United States Household Refrigerator Market vs Global Household Refrigerator Market
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1.3 Popularity by Refrigerator Type
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1.4 Insights on Consumer Spending on Refrigerators by Price Range
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1.5 Insights on Volume of Imports and Exports by the Country
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1.6 Insights on Power Consumed by Refrigerators
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1.7 Technological Innovations and Developments in the Market
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2. MARKET SEGMENTATION (2016-2019) AND FUTURE OUTLOOK
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2.1 By Type
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2.1.1 Bottom-freeze Refrigerators/Top-freeze Refrigerators
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2.1.2 Side-by-side freezers Refrigerator
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2.1.3 French Door Refrigerator
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2.1.4 Counter-depth Refrigerator
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2.1.5 Chest Freezers
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2.1.6 Other Types
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2.2 By Application
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2.2.1 Frozen Vegetable and Fruit
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2.2.2 Frozen Meat
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2.2.3 Other Applications
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2.3 By Distribution Channel
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2.3.1 Specialty Stores
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2.3.2 Supermarkets/Hypermarkets
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2.3.3 Online
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2.3.4 Other Distribution Channels
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United States Household Refrigerators Market Size 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.
