Ahmed Sherif
Research expert covering IT services and gaming hardware
Refrigerators - statistics & facts
In most countries, refrigeration has grown to become the most essential food storage technique. As key features of any kitchen, refrigerators form a vital part of any home, being the most owned major appliance by households globally. Makers of some of the most popular refrigerator brands such as Midea, Haier Smart Home, and Whirlpool are among the leading household appliance companies worldwide.
The COVID-19 pandemic has left its mark on refrigerator unit shipments globally, culminating in a peak of 189 million units in 2021. Subsequent years witnessed a contraction in these figures. Nonetheless, refrigerator unit sales are expected to recover by 2024, with expected sales exceeding 190 million units worldwide.
Overall, the refrigerator sector is set to continue leading the major home appliances industry in revenues, while showing a strong growth outlook in the coming years.
Multiple players in the industry
When it comes to the global market, refrigerator brand popularity varies by country. In North America, particularly in the U.S. and Canada, Frigidaire, owned by Sweden-based Electrolux, was the dominant brand in 2023. Europe, on the other hand, has a diverse refrigerator market. European companies like Bosch, AEG, and Electrolux have a strong presence in Germany and Sweden, but Asian corporations such as Samsung and LG are also highly competitive and growing in popularity in the market, being more popular in Italy and France.Refrigerator revenues lead the market
As an integral part of the home appliances market, revenues from refrigerators consistently account for the largest share of major home appliances sold globally. In 2023, the refrigerators industry globally generated around 117 billion U.S. in revenue. The market is expected to continue to increase in the coming years and reach over 141 billion U.S. dollars by 2028. Asia accounts for the largest market share of the global refrigerator market, followed by Africa and North America.The COVID-19 pandemic has left its mark on refrigerator unit shipments globally, culminating in a peak of 189 million units in 2021. Subsequent years witnessed a contraction in these figures. Nonetheless, refrigerator unit sales are expected to recover by 2024, with expected sales exceeding 190 million units worldwide.
Overall, the refrigerator sector is set to continue leading the major home appliances industry in revenues, while showing a strong growth outlook in the coming years.
