Study - Id23652 - Refrigerators and Freezers Statista Dossier
Study - Id23652 - Refrigerators and Freezers Statista Dossier
Study - Id23652 - Refrigerators and Freezers Statista Dossier
Refrigerators
Table of Contents
Global smart refrigerator market size comparison 2018-2027 06 Global refrigeration appliances retail value 2015-2024, by region 24
Sales volume of the refrigerators industry Worldwide 2018-2028 07 Most owned refrigerator brands 2023, by country 25
Ownership rate of refrigerators and freezers in Europe 2023, by country 26
03 Companies
Refrigerator segment revenue of Haier Smart Home 2016-2022 16
LG Electronics' refrigerator production volume 2015-2022 17
LG Electronics revenue from home appliances & air solution segment Q1 2017-Q2 2022 18
Midea Group revenue 2016-2022, by segment 19
Sales revenue of Whirlpool worldwide 2008-2022, by segment 20
1
CHAPTER 01
Overview
Household appliances retail sales value worldwide from 2015 to 2024 (in
billion U.S. dollars), by category
Global household appliances retail sales value 2015-2024, by category
Refrigeration appliances Major kitchen appliances Laundry appliances Air-Conditioners Small home appliances
600
500
141
Sales value in billion U.S. dollar
132.7
124.4
400 116.4
98.3 106.5
109.8
93.9 96.8
86.2 90.8
81.9 84.6
300 79.2 77.4 78.1
74.3 70.9
61.3 88.6
62.2 81.5
65.8 66.2 70.6 75.7
200 58.6 66.3
51.8 52.8
97.1 102.6
88.9 89 87.9 92.3
76.2 78.1 84.1 84
100
0
2015 2016 2017 2018 2019 2020* 2021* 2022* 2023* 2024*
3 Description: Global retail sales of home and household appliances are forecast to grow to almost 450 billion U.S. dollars in 2021 and surpass the 500 billion dollar mark in the upcoming years. Refrigeration appliances sales take up the most significant share of the
market, with retail sales of more than 90 billion U.S. dollars in 2020. Read more
Note(s): Worldwide; 2015 to 2020; *Forecast Read more
Source(s): Euromonitor; Frost & Sullivan; Haier Smart Home; HKExnews
Major domestic appliances sales worldwide from 2005 to 2021 (in billion
euros)*
Global sales of major domestic appliances 2005-2021
250
235
164
157 157
150 140
130
100
50
0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
4 Description: The sale of global household appliances has been growing steadily from 2005 to 2014. In 2015 onwards there was a slowing and in some cases a decrease, in the sales of major domestic appliances around the world. The Coronavirus pandemic, forcing
people to stay at home, is likely to be the cause of further interest in outfitting homes as there has been a steady growth since 2019 in sales, culminating in a record sale in 2021 Read more
Note(s): Worldwide; 2005 to 2021; * Includes nine product groups - Washing machines, tumble dryers, dishwashers, refrigerators, freezers, cookers/ovens, hobs, hoods, microwave ovens. The 2016, 2017 and 2019 figures are calculated by Statista [...] Read more
Source(s): GfK
Revenue of the refrigerators market worldwide from 2018 to 2028 (in
billion U.S. dollars)
Revenue of the refrigerators industry worldwide 2018-2028
180
166.35
158.84
160 151.63
144.55
137.91
140 133.02
126.64 128.09
Revenue in billion U.S. dollars
118.81
120 110.6
108.12
100
80
60
40
20
0
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
5 Description: The global revenue in the 'Refrigerators' segment of the household appliances market was forecast to continuously increase between 2023 and 2028 by in total 33.3 billion U.S. dollars (+25.03 percent). After the tenth consecutive increasing year, the
indicator is estimated to reach 166.35 billion U.S. dollars and therefore a new peak in 2028. Notably, the revenue of the 'Refrigerators' segment of the household appliances market was continuously increasing over the past years. Read more
Note(s): Worldwide; 2018 to 2028; The market segment Refrigerators covers fridge freezers, vapor compressor refrigerators, and integrated vapor compressor refrigerators. Excluded are freezers, commercial appliances, and non-electric appliances.
Source(s): Statista Consumer Market Insights
Market size comparison for the global smart refrigerator market from
2018 to 2027 (in billion U.S. dollars)
Global smart refrigerator market size comparison 2018-2027
The Business Research Company (January 2021)* 360 Research Reports (January 2020)
Global Market Insights (December 2019) Globe News Wire (November 2022)
8.0 7.5
7.0
Revenue in billion U.S. dollars
6.0
5.0 4.56
4.0
2.9
3.0 2.5 2.5
1.96 1.9
2.0
1.0 0.65
0.64
0.0
2018 2020 2023 2024 2025 2026 2027
6 Description: The global smart refrigerator market is valued at around 2.5 billion U.S. dollars today, with some forecasts putting the market at a significantly lower value. There is concensus though that the smart refrigerator market is set for double digit growth over
the next few years. Read more
Note(s): Worldwide; 2018 to 2022; *Includes "sales of smart refrigerators and related services that are used in residential and commercial sectors" Read more
Source(s): 360 Research Reports; BRC; Global Market Insights; MarketWatch
Sales volume of the refrigerators industry Worldwide 2018-2028 (in million
U.S. dollars)
Sales volume of the refrigerators industry Worldwide 2018-2028
180,000
166,348.61
158,842.23
160,000 151,627.91
144,549.06
137,908.86
140,000 133,019.58
126,637.36 128,092.22
118,809.38
120,000 110,599.95
Unit sales in millions
108,122.55
100,000
80,000
60,000
40,000
20,000
0
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
7 Description: The global revenue in the 'Refrigerators' segment of the household appliances market was forecast to continuously increase between 2023 and 2028 by in total 33.3 billion U.S. dollars (+25.06 percent). After the tenth consecutive increasing year, the
indicator is estimated to reach 166.3 billion U.S. dollars and therefore a new peak in 2028. Notably, the revenue of the 'Refrigerators' segment of the household appliances market was continuously increasing over the past years. Read more
Note(s): Worldwide; 2018 to 2028; The market segment Refrigerators covers fridge freezers, vapor compressor refrigerators, and integrated vapor compressor refrigerators. Excluded are freezers, commercial appliances, and non-electric appliances.
Source(s): Statista Consumer Market Insights
CHAPTER 02
Production
Production volume of household refrigerators in Thailand from October
2022 to April 2023 (in 1,000 units)
Monthly production volume of refrigerators Thailand 2022-2023
700 658.94
600 560.13
541.03
Production volume in thousand units
514.73 508.05
500 479.51
421.48
400
300
200
100
0
Oct '22 Nov '22 Dec '22 Jan '23 Feb '23 Mar '23 Apr '23
9 Description: In April 2023, approximately 508 thousand units of refrigerators were produced in Thailand. In that same period, around 4.9 billion Thai baht worth of household refrigerators were sold both in the country and internationally. Read more
Note(s): Thailand; October 2022 to April 2023
Source(s): Office of Industrial Economics (Thailand)
Industrial production volume of household refrigerators in China from
2011 to 2022 (in 1,000s)
Industrial production of household refrigerators in China 2011-2022
100,000
92,557.4 92,383
90,147 89,921
86,992.2 87,960.9 86,703 86,644
90,000 84,270
79,927.5 78,767 79,043
80,000
Production volume in thousand units
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
10 Description: In 2022, the industrial production volume of household refrigerators in China amounted to almost 87 million units. The country was one of the world's largest producers of consumer electronics. Read more
Note(s): China; 2011 to 2022
Source(s): National Bureau of Statistics of China
Production volume of electric refrigerators in Japan from 2014 to 2022 (in
million units)
Production volume of electric fridges in Japan 2014-2022
2.5
1.98
2.0 1.86
Production volume in million units
1.79 1.82
1.75
1.54
1.5
1.32 1.28
1.26
1.0
0.5
0.0
2014 2015 2016 2017 2018 2019 2020 2021 2022
11 Description: The production volume of electric refrigerators in the home appliances industry in Japan increased by 0.02 million units (+1.59 percent) in 2022. In total, the production quantity amounted to 1.28 million units in 2022. This increase was preceded by a
declining production quantity in this industry. Read more
Note(s): Japan; 2014 to 2022
Source(s): METI (Japan)
Production volume of household refrigerators and freezers in Vietnam
from 2016 to 2022 (in million pieces)
Production volume of refrigerators and freezers Vietnam 2016-2022
3.5
3.2
3.0
2.65 2.66
2.51
2.44
2.5
2.27
Volume in million pieces
2.0
1.6
1.5
1.0
0.5
0.0
2016 2017 2018 2019 2020 2021 2022*
12 Description: In 2022, the production volume of refrigerators and freezers amounted to approximately 3.2 million pieces in Vietnam, indicating an increase from the previous year. The production volume of this product decreased slightly in 2019 and 2020 after having
recorded year-on-year growth from 2016 to 2018. Read more
Note(s): Vietnam; 2016 to 2022; * Preliminary figures. Figures have been rounded. Read more
Source(s): General Statistics Office of Vietnam
Volume of household appliances production in Poland in 2022, by product
type (in million pieces)
Volume of production of household appliances in Poland 2022, by product type
7
6.3
6 5.6
Volume of production in million pieces
5 4.6
4 3.7
3.5
3.1
3 2.7
0
Washing machines Cookers, ovens, Dishwashers Refrigerators Clothes dryers Cooker hoods Small appliances
induction hobs
13 Description: In 2022, the production of domestic appliances in Poland included various types of products. Washing machines and kitchen equipment were produced in the greatest amount. Read more
Note(s): Poland; 2022
Source(s): APPLiA
Gross production of domestic refrigerators manufacturing in Mexico from
January 2019 to December 2022 (in 1,000 Mexican pesos)
Mexico: domestic refrigerators production value 2019-2022
7,000,000
Value in thousand Mexican pesos
6,000,000
5,000,000
4,000,000
3,000,000
2,000,000
1,000,000
0
Oct '19
Oct '20
Oct '21
Oct '22
Feb '19
Feb '20
Feb '21
Feb '22
Sep '19
Dec '19
Sep '20
Dec '20
Sep '21
Dec '21
Sep '22
Dec '22
Nov '19
Nov '20
Nov '21
Nov '22
May '19
May '20
May '21
May '22
Mar '19
Mar '20
Mar '21
Mar '22
Jul '19
Jul '20
Jul '21
Jul '22
Jan '19
Jun '19
Jan '20
Jun '20
Apr '19
Apr '20
Jan '21
Jun '21
Jun '22
Apr '21
Jan '22
Apr '22
Aug '19
Aug '20
Aug '21
Aug '22
14 Description: In December 2022, gross production value of fridges larger than 11 cubic feet amounted to over 4.5 billion Mexican pesos, whereas the value for fridges 7 to 11 cubic feet large had a production value of nearly 223 million pesos. In the previous year, major
appliances had a total gross production value of nearly 11.6 billion pesos. Read more
Note(s): Mexico; January 2019 to December 2022
Source(s): INEGI
CHAPTER 03
Companies
Revenue of the refrigerator segment of Haier Smart Home from 2016 to
2022 (in billion yuan)
Refrigerator segment revenue of Haier Smart Home 2016-2022
60
50.76
50
44.13
Segment revenue in billion yuan
41.74
40
33.31 34.39
32.75
30
20
10
0
2016 2017 2018 2019 2020 2021
16 Description: In 2022, Haier Smart Home generated a revenue of 43 billion yuan from its refrigerator segment. In total, the company's domestic home applications division had a turnover of around 126 billion yuan in the previous year. Read more
Note(s): China; 2016 to 2022
Source(s): Haier Smart Home
LG Electronics' production volume of refrigerators from 2015 to 2022 (in
millions)
LG Electronics' refrigerator production volume 2015-2022
14
12 11.52
9.77
Production volume in millons
10 9.62 9.53
9.32
8.86
8.48
8.03
8
0
2015 2016 2017 2018 2019 2020 2021 2022
17 Description: In 2022, the production volume of refrigerators by LG Electronics amounted to around 9.77 million. LG Electronics' refrigerators were manufactured in South Korea, India, Mexico and China. Next to washing machines and air conditioners, refrigerators are
among the leading household appliances of LG Electronics. Read more
Note(s): Worldwide; 2017 to 2022
Source(s): DART; LG Electronics
LG Electronics' home appliances & air solution segment revenue from 1st
quarter 2017 to 4th quarter 2022 (in billion U.S. dollars)*
LG Electronics revenue from home appliances & air solution segment Q1 2017-Q2 2022
7
6.32 6.39
5.92
6 5.6
5.32 5.4
5.17 5.06
4.88
Revenue in billion U.S. dollars
5 4.84
4.33 4.29 4.39
4.17 4.22 4.09
3.99 3.9
3.79 3.85
4 3.66
3.57
3.32 3.43
0
1Q '172Q '173Q '174Q '171Q '182Q '183Q '184Q '181Q '192Q '193Q '194Q '191Q '202Q '203Q '204Q '201Q '212Q '213Q '214Q '211Q '222Q '223Q '224Q '22
18 Description: In the fourth quarter of 2022, LG Electronic's revenue from its home appliances & air solution segment amounted to around 5.06 billion U.S. dollars. Over the years the home appliances & air solutions segment of LG Electronics has shown consistent
growth until the second quarter, when it dropped from 6.39 billion U.S. dollars generated in the second quarter. Read more
Note(s): Worldwide; 2017 to 2022; *Figures for 2017 onwards were converted from KRW to USD at an exchange rate of 1 KRW - 0.00079 USD (December 31, 2022). Read more
Source(s): LG Electronics
Revenue of Midea Group Co., Ltd. from 2016 to 2022, by segment (in
billion yuan)
Midea Group revenue 2016-2022, by segment
HVAC air conditioners Consumer electronic applicances Robots and automated systems
350
300
27.28 29.93
250 21.59
Revenue in billion yuan
25.19
25.68
27.04 131.87 125.28
200
109.49 113.89
102.99
150 98.75
100 76.54
141.88 150.63
109.39 119.61 121.22
50 95.35
68.73
0
2016 2017 2018 2019 2020 2021 2022
19 Description: The statistic shows the revenue of Midea from 2016 to 2022, by segment. In 2022, Midea had generated a revenue of about 30 billion yuan from robots and automated systems. Read more
Note(s): China; 2016 to 2022
Source(s): Midea
Whirlpool's net sales by product category from 2008 to 2022, by segment
(in billion U.S. dollars)
Sales revenue of Whirlpool worldwide 2008-2022, by segment
Laundry Appliances Refrigerators and freezers Cooking appliances Dishwashing Compressors Spare parts and warranties Other
25
0.47
0.16 1.19
20 1.03 0.19
1.13 0.98 0.42 1.89 0.54
Net sales in billion U.S. dollars
5.76 5.35 5.44 5.6 5.44 5.44 5.37 6.06 5.8 5.95 6.2 6.19 5.68 6.12 5.13
0
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
20 Description: Whirlpool Corporation's sales in the refrigeration appliances product category, which includes refrigerators and freezers, generated revenue of around 5.13 billion U.S. dollars in 2022. This is the largest product category of Whirlpool in that year. Read
more
Note(s): Worldwide; 2008 to 2022; * Values for the years before 2021 were taken from previous financial reports. Read more
Source(s): Whirlpool Corporation
Electrolux's total revenue from 2001 to 2022 (in billion U.S. dollars)*
Total revenue of Electrolux 2001-2022
14
13.02 12.77 12.94
11.89 11.84 11.61 11.58 12.05
12 11.57 11.41
11.07 11.12
10.47 10.55 10.47 10.75
9.96 10.04 10.05 10.2
9.74
Revenue in billion U.S. dollars
10 9.66
0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
21 Description: Swedish appliance manufacturer Electrolux brought in around 12.94 billion U.S. dollars in revenue in 2022. The company has reported relatively stable revenue figures for the past few years with the overall number floating between 10 and 13 billion
dollars. Read more
Note(s): Worldwide; 2001 to 2022; * Figures were converted from SEK to USD at the exchange rate of 1 SEK - 0.09590 USD (December 31, 2022) Read more
Source(s): Electrolux
CHAPTER 04
Consumption: Refrigerators
ownership
Refrigeration appliances retail unit volume worldwide from 2015 to 2024,
by region (in million units)
Global refrigeration appliances retail unit volume 2015-2024, by region
Australia & New Zealand Middle East & Africa North America Latin America Europe Asia
200
180
160
Retail volume in million units
140
120
100
80
60
40
20
0
2015 2016 2017 2018 2019 2020* 2021* 2022* 2023* 2024*
23 Description: The global retail volume of refrigeration appliances grew steadily from 2015 to 2019, mostly driven by the steady growth in the Asian, North American, and European markets. Although there was a drop in retail volume in 2020 due to the COVID-19 global
pandemic, in 2022 the volume is anticipated to resume previous levels and maintain steady growth onwards. By 2024, the Asian market is forecast to be at 98.5 million units. Read more
Note(s): Worldwide; 2015 to 2020; *Forecast Read more
Source(s): Euromonitor; Haier Smart Home; HKExnews
Refrigeration appliances retail value worldwide from 2015 to 2024, by
region (in billion U.S. dollars)
Global refrigeration appliances retail value 2015-2024, by region
Australia & New Zealand Middle East & Africa North America Latin America Europe Asia
120
100
Retail value in billion U.S. dollars
80
60
40
20
0
2015 2016 2017 2018 2019 2020* 2021* 2022* 2023* 2024*
24 Description: The global retail value of refrigeration appliances grew steadily from 2015 to 2019, mostly driven by the steady growth in the Asian, North American, and European markets. Although there was a drop in retail value in 2020 due to the COVID-19 global
pandemic, in 2022 the value is anticipated to surpass previous levels and maintain steady growth onwards. By 2024, the Asian refrigeration appliances market is forecast to produce a retail value of 46 billion U.S. dollars. Read more
Note(s): Worldwide; 2015 to 2020; *Forecast Read more
Source(s): Euromonitor; Haier Smart Home; HKExnews
Most popular refrigerator brand in 2023, by country
Most owned refrigerator brands 2023, by country
India: LG 35%
25 Description: As of 2023, the most popular refrigerator brand in Germany and Austria was AEG, while Electrolux was the most popular brand in Sweden and Brazil. In South Korea, LG refrigerator dominated in 2023, with around 49 percent of respondents who
reported owning an LG refrigerator. Read more
Note(s): Argentina, Austria, Canada, France, Germany, Italy, Japan, Russia, Spain, Turkey, United Kingdom, United States; Apr. 2022 to Mar. 2023; 2,086 - 5,050 (varies by country); 18-64 years; respondents who have a refrigerator in their household (split sample)
Source(s): Statista Consumer Insights
Household ownership rate of refrigerators and freezers in selected
countries in Europe in 2023
Ownership rate of refrigerators and freezers in Europe 2023, by country
80%
60% 55%
51%
freezers
49% 50%
50%
40%
40% 34%
30% 27%
20%
10%
0%
Poland Italy Spain Germany France Belgium United Kingdom Sweden Netherlands
26 Description: Romania, Portugal, and Italy are the countries with the highest household ownership rate of refrigerators amongst the European countries shown in the breakdown in 2023. Sweden and Belgium have the highest household ownership rate of freezers with
65 and 64 percent, respectively, according to the Statista Global Consumer Survey. Read more
Note(s): Belgium, Czechia, France, Germany, Greece, Italy, Netherlands, Poland, Portugal, Romania, Spain, Sweden, United Kingdom; 1Q 2023; 1,048 - 4,035 (Count of respondents differs by country); 18-64 years
Source(s): Statista Consumer Insights
Refrigerator ownership by brand in the U.S. as of June 2023
Refrigerator ownership by brand in the U.S. 2023
Share of respondents
0% 2% 4% 6% 8% 10% 12% 14% 16% 18%
Frigidaire 17%
GE 17%
LG 12%
Whirlpool 11%
Samsung 10%
Kenmore 7%
KitchenAid 3%
Maytag 2%
Beko 1%
Bosch 1%
Electrolux 1%
Haier 1%
Hitachi 1%
Other 3%
27 Description: We asked U.S. consumers about "Refrigerator ownership by brand" and found that "Frigidaire" takes the top spot, while "Hitachi" is at the other end of the ranking. Read more
Note(s): United States; July 2022 to June 2023; 8100 respondents; 18-64 years; respondents who have a refrigerator in their household (Housing & household equipment, Internet & devices)
Source(s): Statista Consumer Insights
Ownership rate of smart appliances in the United States in 2022*
Ownership rate of smart appliances in the United States 2022
28 Description: According to a 2022 Statista survey, 13 percent of households in the United States own a major smart appliance. Small smart appliances are also owned by 13 of respondents. In turn only 10 percent of the survey respondents owned a vacuum or mowing
robot. Read more
Note(s): United States; Q4 2022; 59,934 respondents; 18-64 years; Own a smart home device; *Multiple answers were possible. Read more
Source(s): Statista Consumer Insights
Household ownership rate of major appliances in selected countries
worldwide in 2023
Ownership rate of major household appliances in selected countries 2023
29 Description: Major appliances such as ovens, dishwashing machines, freezers, microwaves, refrigerators, vacuum cleaners, and washing machines are owned by many households across the world according to the Statista Global Consumer Survey 2023. There are
differences in the ownership rate though when comparing individual countries. Cookers/ovens for example are owned by many households in the United States, Spain, the UK, Italy, Russia, and Turkey where more than 90 percent of [...] Read more
Note(s): Argentina, Austria, Canada, France, Germany, Italy, Japan, Russia, Spain, Turkey, United Kingdom, United States; 1Q 2023; 509 - 10,006 (Count of respondents differs by country); 18-64 years
Source(s): Statista Consumer Insights
Sources
30