Market Insights Consumer Household Appliances Major Appliances

Refrigerators - South Korea

South Korea

In 2024, the revenue in the Refrigerators market in South Korea amounts to US$1.48bn.
It is projected to grow annually by 3.53% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this segment, with US$32,170m in 2024.
In relation to the total number of households, each household generates revenues of US$67.64 in 2024.
By 2029, the volume in the Refrigerators market is expected to reach 2.5m pieces units.
However, in 2025, the segment is anticipated to experience a volume growth decline.
The average volume per household in the Refrigerators market is projected to be 0.11pieces units in 2024.
South Korea's refrigerator market is currently experiencing a surge in demand for eco-friendly and energy-efficient models.

Key regions: United States, Europe, Japan, United Kingdom, India

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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.