Wine Cooler Refrigerator Market Size and Forecast till 2030 (2023)

FAQs

What is the market size of refrigerators? ›

Revenue in the Refrigerators segment amounts to US$16.04bn in 2023. The market is expected to grow annually by 4.65% (CAGR 2023-2028).

On the basis of storage capacity, the global household refrigerator market is segmented into small storage capacity refrigerators (<100L), medium storage capacity refrigerators (100L-200L), large storage capacity refrigerators (200L-300L) and others (>300L).

The global refrigerator market size was valued at USD 64.17 billion in 2018 and is projected to reach USD 103.95 billion by 2026, exhibiting a CAGR of 6.3% during the forecast period. Refrigerators are widely used across households and commercial places to provide convenient and safe means of food preservation.

The global market size for refrigerators reached a value of more than USD 113.05 billion in 2021.

Household Appliances - United States

The market's largest segment is the segment Major Appliances with a market volume of US$30.72bn in 2023. In global comparison, most revenue is generated in China (US$166.20bn in 2023).

Refrigerators today average 22.5 cubic feet, up from 19.6 cubic feet in 1980, according to the Association of Home Appliance Manufacturers.

LG is one of the leading players in the India refrigerator market, offering a wide range of refrigerators catering to different segments of consumers. The company has a strong brand image and a well-established distribution network, which has helped it gain a significant market share.

Around 215 million refrigerators are sold each year worldwide, generating more than 125 billion U.S. dollars in annual market revenue.

Revenue in the Refrigerators segment amounts to US$8.32bn in 2023. The market is expected to grow annually by 0.07% (CAGR 2023-2028).

The six types of fridge configurations are top or bottom freezer, French door, side-by-side, undercounter, and quad door refrigerators. Most refrigerators are freestanding but you can find built-in fridges and counter depth models among the types of refrigerators.

What is the best platform to sell refrigerator? ›

Digi2l gives you the best price for your old appliances. It is a very easy process with very prompt responses and amazing customer service.

The maximum retail price (MRP) is pre-determined by manuafacturer (brand itself) and thereby margin is too known to retail shop. Big appliances like TV, Fridge, washing machine would have gross margin of around 20–30% which again depends on the product type, brand, technology, etc.

Longer lifespan: Superior construction, vigorous testing and excellent service mean high-end refrigerators can last years beyond standard models. This longer lifespan could even translate to comparable costs per year when compared to a standard refrigerator.

Shortages have hit all kinds of major appliances: dishwashers, dryers, dehumidifiers, even some of the microwaves. That's because the pandemic threw a monkey wrench into both their supply and demand. The stage was set by a springtime run on freezers, followed by refrigerators with freezers.

Largest Appliance Manufacturers Research Summary

The largest appliance manufacturer in the world is Panasonic, with a 2021 annual sales of $62.969 billion and 259,385 employees. As of 2021, the global appliance industry has a market size of $502.28 billion.

The home appliance market has evolved to meet new consumer needs and has been driven by trends such as sustainability, design, smart functionality and sanitisation.

Another uncertain period ahead for the appliances industry

Moving into 2023, inflation is expected to stay above-trend. For the appliances industry, energy prices and labour costs are expected to remain the key inflation drivers.

Revenue in the Refrigerators segment amounts to US$133.00bn in 2023. The market is expected to grow annually by 4.57% (CAGR 2023-2028).

Typically, the standard size for a professional-grade refrigerator falls between 30 to 36 inches width, 67 to 70 inches in height, and 29 to 35 inches in depth. When it comes to the interior, the refrigerator itself should provide you with 14 to 20 cubic feet of space.

Who is the largest refrigeration company? ›

Samsung Electronics is the largest HVAC company in the world, with a revenue of $221.5 billion. The South Korean manufacturer makes everything from refrigerators and washing machines to computer chips and smartphones.

1 Global Major Appliances Brand for the 14th consecutive year. New Delhi [India], February 6 (ANI/BusinessWire India): Haier, the global leader in Home Appliances & Consumer Electronics has been recognized as the World's No. 1 brand globally in major appliances in 2022 for the 14th consecutive year in a row.

For a refrigerator bought for Rs. 12000 and sold for Rs. 13500, the profit is $ 13500-12000=1500 $ .

Most refrigerators are designed to last between 10 and 20 years. If you're having any of the other problems on this list and the fridge is over ten years old, you'll probably save more money in the long run by simply replacing it. Otherwise, you could sink money into repairs for a fridge that's already on its way out.

More than 99.8% of American homes own at least one refrigerator.

In 2021, the top exporters of Refrigerators were China ($17.6B), Mexico ($6.21B), Italy ($4.07B), South Korea ($3.7B), and Germany ($3.16B).

The global food service market size was valued at USD 2,323.29 billion in 2021 and is projected to grow from USD 2,540.05 billion in 2022 to USD 5,194.60 billion by 2029, exhibiting a CAGR of 10.76% during the forecast period.

Over the course of the nineteenth century, ice went from a luxury to a necessity for the vast majority of Americans and has remained so ever since. In the early twentieth century, the market for ice developed into a market for large refrigerators to keep all the foodstuffs that ice once preserved.

Inverter Compressors are about 30% more energy efficient compared to conventional compressors. Although the refrigerators with this technology are comparatively expensive but in the long run they will help save a lot on your electricity bill.

What is the most common fridge design? ›

Here's a look at the most popular refrigerator styles and the benefits of each. The top freezer style refrigerator is the most commonly found model in American homes. The main reasons are because of its low price point and storage size.

Historically, fridges with freezers on top or bottom tend to last the longest, and those from well-known refrigerator brands like Whirlpool and LG tend to top lists for most reliable. The fewer parts that can fail translates into a model that could potentially last longer and cost less to repair.

In 2022, Costco had the highest score for household appliances retailers in the United States with a score of 870.

But here are the basics: The top shelf and door tend to be the warmest "zones", while the middle and bottom shelves get progressively cooler. So, you should keep condiments in the door, dairy products, eggs and spreads on the upper shelves, meats and milk on the lowest shelf and fruits and vegetables in the crisper.

In terms of predicted reliability, the best built-in brands are Bosch and Thermador. They're the only brands to earn an excellent rating. They also received a very good owner satisfaction rating.

All Refrigerator Brands: Latest refrigerator from Top Brands like Blue Star, Voltas, Hitachi, LG, Onida, Whirlpool, and more in India - NDTV Gadgets 360.

So are Bosch refrigerators reliable? The answer is yes, you won't be disappointed with such Bosch counter depth fridge because of its cutting-edge features, gorgeous design, and powerful and reliable cooling capacity. Already, Bosch makes the industry's top dishwashers.

You may be asking yourself, “what is a good profit margin?” A good margin will vary considerably by industry, but as a general rule of thumb, a 10% net profit margin is considered average, a 20% margin is considered high (or “good”), and a 5% margin is low.

An NYU report on U.S. margins revealed the average net profit margin is 7.71% across different industries. But that doesn't mean your ideal profit margin will align with this number. As a rule of thumb, 5% is a low margin, 10% is a healthy margin, and 20% is a high margin.

Is a 50% profit margin too much? ›

What is a good gross profit margin ratio? On the face of it, a gross profit margin ratio of 50 to 70% would be considered healthy, and it would be for many types of businesses, like retailers, restaurants, manufacturers and other producers of goods.

You can expect reliability and longevity from luxury appliances since they are built with expert craftsmanship and high-quality parts, which contribute to lower maintenance, less repairs, and a overall longer lasting appliance.

Compared to their lower-cost counterparts, luxury appliances are built with superior materials for a higher quality performance meant to last a lifetime. Additionally, advanced testing during development and production means you won't be let down.

"It definitely pays to negotiate," says Martin Lachter, a senior research associate in Consumer Reports' survey department. "Most customers shopping for a major appliance don't haggle over the price, but 73 percent of those who do are successful, saving a median of $97."

Standard refrigerator sizes range from around 24 to 40 inches in width, 62 to 72 inches in height and 29 to 36 inches in depth.

Typically, the standard size for a professional-grade refrigerator falls between 30 to 36 inches width, 67 to 70 inches in height, and 29 to 35 inches in depth. When it comes to the interior, the refrigerator itself should provide you with 14 to 20 cubic feet of space.

Largest Appliance Manufacturers Research Summary

The largest appliance manufacturer in the world is Panasonic, with a 2021 annual sales of $62.969 billion and 259,385 employees. As of 2021, the global appliance industry has a market size of $502.28 billion.

An American style fridge freezer is different to most tall fridge freezers as they feature double doors that open from the middle outwards, rather than a single door. This is why they're sometimes referred to as 'side by side American fridge freezers' or a 'double door fridge freezer'.

What type of refrigerator is most popular? ›

LG refrigerators seem to make the most owners the happiest, at least among major-brand models, which usually cost less than $4,000. Whirlpool and GE are pretty good, too. Among the most popular fridge styles, the French-door design (with half-width fridge doors and a pull-out bottom freezer) is the most beloved type.

Shortages have hit all kinds of major appliances: dishwashers, dryers, dehumidifiers, even some of the microwaves. That's because the pandemic threw a monkey wrench into both their supply and demand. The stage was set by a springtime run on freezers, followed by refrigerators with freezers.

Better organization and less food waste.

Research shows that a lot of food is wasted simply because it's forgotten somewhere in the fridge behind other food items. A bigger fridge will enable you to organize its contents and have a better overview over them, so you'll always know what's on stock.

For a family of 2 to 4, I recommend a fridge capacity of 200-500L. Alternatively, a family of 4 will ideally need a fridge capacity of around 500L. Families larger than 4 members will need a fridge with an even bigger capacity.

What Size is an RV Refrigerator? If you will be replacing your RV fridge, it is important to keep size in mind. While most household refrigerators measure between 18 and 21 cubic feet, a typical RV refrigerator will be between only 4 and 12 cubic feet.