Market Size of United States Household Refrigerators Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 0.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Household Refrigerators Market Analysis
The US household refrigerator market is expected to register a growth, in the upcoming years. Refrigerators and freezers hold a prominent position in the home appliance segment. A household refrigerator is an appliance that is primarily used for food storage and for protecting the food from contamination.
The market size of the refrigerator manufacturing industry in the United States remained steady in 2019, as compared to another consumer goods sector. The rise in disposable income, growing investment in innovation of refrigerator units, coupled with a decline in product prices, are some of the key factors driving the growth of household refrigerator appliances. Some of the other factors influencing the market are replacement due to necessity, the credit market for consumers, and the general wellbeing of the economy.
The headwind for the growth of the market in the United States is high competition from imports of the product. The demand for smart refrigeration appliances, such as those connected with the internet, touch screen, sensors, etc., are gaining popularity in the market. Moreover, government regulation is also driving the transformation in the industry with more energy-efficient and less electricity consumption products being promoted, in order to meet environmental concerns.
