Market Insights Consumer Household Appliances Major Appliances

Freezers - Iceland

Iceland

In 2024, the Freezers market in Iceland generated a revenue of ISK US$1.71m.
It is projected to have an annual growth rate of 3.29% (CAGR 2024-2029).
When compared globally, in China leads the market with a revenue of ISK US$5,491m in 2024.
Looking at the ratio of revenue to the total number of households, each household in Iceland is estimated to have a revenue of ISK US$10.62 in 2024.
Moving forward, the volume in the Freezers market is expected to reach 4.5k pieces by 2029.
In 2025, the segment is projected to experience a volume growth of 2.1%.
Lastly, the average volume per household in the Freezers market is anticipated to be 0.03pieces in 2024.
Iceland's freezer market is booming due to its high demand for frozen seafood and the need for preserving food in its cold climate.

Key regions: Indonesia, Japan, India, Germany, Europe

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on Household Appliances.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, trade data, national statistical office data, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global Survey), as well as performance factors. In addition, we use relevant key market indicators and data from country-specific associations, such as number of households, consumer spending, and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques, such as exponential trend smoothing, for instance. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Survey data is reweighted for representativeness.