European Built-in Refrigerator Market Size

European Built-in Refrigerator Market Analysis

The market's growth is influenced by the increasing consumer inclination toward smart appliances for the household, including refrigerators. Moreover, high disposable income, high penetration of smartphones, and access to high-speed internet will also foster the adoption of advanced featured refrigerators across the region, thus, driving the market growth. Sales of the household refrigerators through specialist distribution formats, such as electronics and appliance specialist retailers, but also home and garden specialist retailers, have tended to decline through the review period, with e-commerce fast gaining retail volume shares. Concerning refrigeration appliances, it is easy and convenient for consumers to peruse models online or via showrooms, then buy via e-commerce, especially for freestanding items. The market's growth is influenced by the increasing consumer inclination toward smart appliances for the household, including refrigerators. Moreover, high disposable income, high penetration of smartphones, and access to high-speed internet will also foster the adoption of advanced featured refrigerators across the region, thus, driving the market growth. Due to modernization and urbanization, the demand for Household & Built-in Refrigerators is increasing in the country with a CAGR of 3.59% over the forecast period.

Retail volume sales of refrigeration appliances declined for the first time in 2020. The economic shock of COVID-19 harmed consumer confidence, which led some to postpone purchases of big-ticket items. Freestanding freezers were by far the top performer in refrigeration appliances during 2020, with their growth rate in retail volume sales accelerating slightly from the previous year. Demand for these appliances was boosted because some households sought to stockpile food during the early stages of the pandemic due to the perceived risk of shortages. Liebherr-Hausgeräte Ochsenhausen GmbH continued to lead refrigeration appliances in countries in Europe during 2020. It enjoys a strong reputation as a specialist offering an extremely wide array of high-quality, durable refrigeration appliances of all types and good value for money, with its frost-free fridge freezers, particularly popular.