Market Overview:
The global inverter refrigerators market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy-efficient appliances, rising disposable income, and growing awareness about environment-friendly products. In terms of volume, the global inverter refrigerators market is projected to reach 234 million units by 2030. In terms of type, the global inverter refrigerators market has been segmented into 185-200L, 200-300L, 300-400L 400-500L and 600-700L segments. Among these segments, the 400–500 L segment is expected to account for a major share of the global inverter refrigerator market in terms of volume during the forecast period. This can be attributed to their growing popularity among consumers due to their high efficiency and low power consumption as compared with other types of refrigerators available in the market.
Product Definition:
An inverter refrigerator is a type of refrigerator that uses an inverter to convert DC power to AC power. This allows the refrigerator to use less energy and run more efficiently. Inverter refrigerators are important because they can help save money on energy costs, and they are more environmentally friendly than traditional refrigerators.
185-200L:
The inverter-based refrigerator market is expected to grow at a significant rate on account of the growing demand for energy-efficient appliances. The growth in this segment can be attributed to the need for cooling and freezing functions in smaller storage sizes along with large capacity refrigerators.
200-300L:
200-300L is the capacity of inverter based refrigerators. It’s a range between 200L to 300L which can be used in an inverter based refrigerator. Inverter technology helps in providing power to all the electrical equipment connected including the compressor, LED display and other electronic devices. The compressor works on electricity and hence it needs an uninterrupted supply of electricity from the utility company for its functioning properly otherwise it may break down due to short circuit or overload etc.
Application Insights:
The household application segment led the global inverter refrigerators market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing urbanization, which has resulted in an increased demand for residential construction across various developing countries including India, China and Brazil. In addition, growing purchasing power in these regions results in higher spending on appliances including refrigerators that fulfill basic needs such as food storage and ice making capability.
Commercial application was the second-largest segment accounting for 49% share of the total revenue in 2017 owing to rising adoption of commercial spaces by companies offering cold storage facilities for their products along with convenient access to frozen foods from their retail stores or supermarkets. Growing number of restaurants & hotels have been fueling demand for commercial space equipment including cooling systems that use inverter technology along with other energy-efficient technologies resulting in high product penetration across this sector over recent years.
Regional Analysis:
Asia Pacific dominated the global inverter refrigerators market in 2017. The region is expected to witness significant growth over the forecast period owing to increasing demand for energy-efficient products coupled with rising disposable income of consumers and urbanization. In addition, growing penetration of organized retail chains and improving standards of living are anticipated to drive product demand further.
North America accounted for a significant share in terms of revenue in 2017 on account of high consumer awareness regarding quality, performance, features, price range and availability associated with inverter based refrigeration systems along with their installation options at homes or businesses. Moreover, presence of major manufacturers such as LG Electronics Inc.; Samsung Group; Haier Inc.; Electrolux AB; Sanyo Electric Co., Ltd.; Panasonic Corporation; Mitsubishi Electric Corporation; Fujitsu General Ltd.; Hitachi, Toshiba Corporation; Whirlpool Corp., Inverter Technology LLC among others is also likely to boost regional growth over the next eight years or so.
Growth Factors:
- Increasing demand for energy-efficient appliances: Inverter refrigerators are more energy efficient as compared to traditional refrigerators, which is driving their demand in the market.
- Rising disposable income of consumers: The increasing disposable income of consumers is resulting in an increase in the demand for premium and luxury products, including inverter refrigerators.
- Growing awareness about the benefits of inverter technology: Inverters offer several benefits such as reduced electricity bills, longer product life, and better performance than traditional compressors. This is resulting in an increase in the adoption of inverter technology among consumers worldwide.
- Technological advancements: The technological advancements taking place within the refrigerator industry are leading to the development of more energy-efficient and advanced inverter models, thereby propelling market growth further. 5) Emerging markets offering untapped potential: A large number of emerging markets such as India and China offer significant growth potential for inverter refrigerator manufacturers due to rising consumer incomes and growing awareness about these appliances
Scope Of The Report
Report Attributes
Report Details
Report Title
Inverter Refrigerators Market Research Report
By Type
185-200L, 200-300L, 300-400L, 400-500L, 600-700L, Above 700L
By Application
Household, Commercial, Industrial
By Companies
Haier, Panasonic, Hitachi, LG, Samsung, Arçelik, Godrej, Hisense, Midea, Mitsubishi Electric, Bosch, Whirlpool
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
164
Number of Tables & Figures
115
Customization Available
Yes, the report can be customized as per your need.
Global Inverter Refrigerators Market Report Segments:
The global Inverter Refrigerators market is segmented on the basis of:
Types
185-200L, 200-300L, 300-400L, 400-500L, 600-700L, Above 700L
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Household, Commercial, Industrial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Haier
- Panasonic
- Hitachi
- LG
- Samsung
- Arçelik
- Godrej
- Hisense
- Midea
- Mitsubishi Electric
- Bosch
- Whirlpool
Highlights of The Inverter Refrigerators Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- 185-200L
- 200-300L
- 300-400L
- 400-500L
- 600-700L
- Above 700L
- By Application:
- Household
- Commercial
- Industrial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Inverter Refrigerators Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An inverter refrigerator is a type of refrigerator that uses an electric motor to turn the compressor instead of using gas or oil. This type of refrigerator is often more energy efficient and can be more affordable than traditional refrigerators.
Some of the major companies in the inverter refrigerators market are Haier, Panasonic, Hitachi, LG, Samsung, Ar§elik, Godrej, Hisense, Midea, Mitsubishi Electric, Bosch, Whirlpool.
The inverter refrigerators market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Inverter Refrigerators Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Inverter Refrigerators Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Inverter Refrigerators Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Inverter Refrigerators Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Inverter Refrigerators Market Size & Forecast, 2020-2028
4.5.1 Inverter Refrigerators Market Size and Y-o-Y Growth
4.5.2 Inverter Refrigerators Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 185-200L
5.2.2 200-300L
5.2.3 300-400L
5.2.4 400-500L
5.2.5 600-700L
5.2.6 Above 700L
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Household
6.2.2 Commercial
6.2.3 Industrial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Inverter Refrigerators Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Inverter Refrigerators Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 185-200L
9.6.2 200-300L
9.6.3 300-400L
9.6.4 400-500L
9.6.5 600-700L
9.6.6 Above 700L
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Household
9.10.2 Commercial
9.10.3 Industrial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 185-200L
10.6.2 200-300L
10.6.3 300-400L
10.6.4 400-500L
10.6.5 600-700L
10.6.6 Above 700L
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Household
10.10.2 Commercial
10.10.3 Industrial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 185-200L
11.6.2 200-300L
11.6.3 300-400L
11.6.4 400-500L
11.6.5 600-700L
11.6.6 Above 700L
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Household
11.10.2 Commercial
11.10.3 Industrial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 185-200L
12.6.2 200-300L
12.6.3 300-400L
12.6.4 400-500L
12.6.5 600-700L
12.6.6 Above 700L
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Household
12.10.2 Commercial
12.10.3 Industrial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 185-200L
13.6.2 200-300L
13.6.3 300-400L
13.6.4 400-500L
13.6.5 600-700L
13.6.6 Above 700L
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Household
13.10.2 Commercial
13.10.3 Industrial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Inverter Refrigerators Market: Competitive Dashboard
14.2 Global Inverter Refrigerators Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Haier
14.3.2 Panasonic
14.3.3 Hitachi
14.3.4 LG
14.3.5 Samsung
14.3.6 Arçelik
14.3.7 Godrej
14.3.8 Hisense
14.3.9 Midea
14.3.10 Mitsubishi Electric
14.3.11 Bosch
14.3.12 Whirlpool
