Global Freezers Market: Snapshot
The market for freezers has been expanding leaps and bounds in the past couple of decades on the back of the prosperity of the food and beverage industry and mushrooming of restaurant and supermarkets across the world. Freezers, which primarily are devices that enable storage of products below the freezing point of water, also find extensive applications in commercial, residential, and industrial purposes. According to this business and commerce publication, the demand in the global freezers market will increment at a CAGR of 5.0% during the forecast period of 2017 to 2025. In terms of revenue, the analysts of the report have estimated that the global freezers market will be worth US$18,300.6 mn by the end of 2025, substantially more than it’s evaluated worth of US$12,350.8 mn in 2017.
Besides gaining traction from the food and beverage industry, the freezers market is expected to gain new opportunities in the near future due to the advent of energy-efficient freezers. A number of governments are emphasizing on electronic products that help in reducing energy consumption and vendors of this market are obliging with innovative products. On the other hand, substantial total cost of operation (TCO) of freezers is keeping the products out of the range of small retailers and curtailing the potential of the market for the same.
Chest Freezers Most Prominent Product-type Segment
The freezers market has been segmented on the basis of product type, application, capacity and door type. On the basis of product type, the market has segmented into chest freezers, upright freezers, and others. In 2016, the segment of chest freezers held the largest market share of approximately 37% of the total freezer market and is also expected to continue its dominance throughout the forecast period of 2017 to 2025. The expansion of the chest freezer segment is mainly driven by increasing adoption in the commercial sector as well as by the industrial sector in order to store packaged foods and beverages. Chest freezer doors seal are tighter and are more energy efficient, so food stays colder during power outages. Based on application, the market has been segmented into residential, commercial, and industrial. On the basis of capacity, the market is segmented into 200 & below, 200-300, 300-500 and 500 & above. Moreover, based on door type, the market is segmented into 1 Door, 2 Doors, 3 Doors, and 4 Doors & above.
Revenue-wise, Asia Pacific to Emerge as Most Lucrative Region
From a geographical standpoint, North America and Europe are the lucrative regions, and the adoption of freezers across these two regions is expected to increase further in the near future. The North America freezers market is estimated to be worth US$5,481.9 mn by 2025. This is primarily due to the increasing number of consumers becoming aware of the importance of living a healthier lifestyle and increase in disposable income of urban populations. Asia pacific region, which is estimated to provide for a demand worth of US$6,456.7 mn by 2025, is the major adopter of freezers, specifically by the commercial and industrial sectors. Furthermore, the Middle East & Africa as well as South America are rated as emerging markets, primed to create new opportunities for the global freezer market during the forecast period. Penetration of smart and solar powered commercial refrigerators in Asia Pacific is offering new opportunities for key players operating in the global freezers market. The high wattage consumed by these devices have resulted in the development of solar-powered commercial refrigerators and freezers.
Some of the key players in the global freezers market are: Daihan Scientific, ThermoFisher Scientific, Haier Group Corporation, AB Electrolux, Hitachi Ltd., LG Electronics, Liebherr Group, Siemens Home Appliances, Beverage-Air Corporation, Brandt Electric, Hengel Industries, Whirlpool Corporation and Panasonic Corporation among others.
Global Freezers Market: Overview
Freezers market report provides analysis for the period 2015 – 2025, wherein the period from 2017 to 2025 is the forecast and 2016 is the base year. The report covers all the major trends and technologies playing influential role in the market’s growth over the forecast period. It also highlights the drivers, restraints, and opportunities for the analysis of market growth during the said period. The study provides a complete perspective on global freezers market’s evolution throughout the above mentioned forecast period in terms of revenue and volume (US$ Mn and Thousand Units).
The market overview section of the report demonstrates the market dynamics such as the drivers, restraints, and opportunities that influence the current nature and future status of this market, key indicators and trends of market. Further, key market indicators included in the report provide significance of the factors which are capable of changing the market scenario. These indicators are expected to define the market position during the forecast period and provide an overview about the global freezers market. A market attractiveness analysis has also been provided for every segment in the report, in order to provide a thorough understanding of the overall scenario in the Freezers market. The report also provides an overview of various strategies adopted by the key players present in the market.
This report provides all the essential information required to understand the key developments in the freezers market, growth trends of each segment and region. It also include companies’ strategies, financial information, and developments under the company profile section. Also, the report provides insights related to trends and their impact on the market. Furthermore, Porter’s Five Forces analysis explains the five forces namely buyers bargaining power, suppliers bargaining power, threat of new entrant, threat of substitute and degree of competition in the freezers market. This report also provides the comprehensive value chain analysis for the freezers market. It explain the various participants including raw material supplier, component manufacture, OEMs, third party distributors and end users of the value chain operating in the market.
Global Freezers Market: Segmentations
The freezers market has been segmented on the basis of product type, application, capacity and door type. On the basis of product type, the market is segmented into chest freezers, upright freezers and others. Based on application, the market is segmented into residential, commercial and industrial. On the basis of capacity, the market is segmented into 200 & below, 200-300, 300-500 and 500 & above. Moreover, based on door type, the market is segmented into 1 Door, 2 Doors, 3 Doors and 4 Doors & above. The report provides in-depth segment analysis of the global Freezers market, thereby providing valuable insights at the macro as well as micro levels.
Global Freezers Market: Competitive Landscape
The report also highlights the competitive landscape of the global freezers market, positioning all the major players according to their presence in different regions of the world and recent key developments initiated by them in the freezers market. The comprehensive freezers market estimates are the result of our in-depth secondary research, primary interviews and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, and technological factors along with the current market dynamics affecting freezers market growth.
Some of the key players profiled in the freezers market report include Daihan Scientific, ThermoFisher Scientific, Haier Group Corporation, AB Electrolux, Hitachi Ltd., LG Electronics, Liebherr Group, Siemens Home Appliances, Beverage-Air Corporation, Brandt Electric, Hengel Industries, Whirlpool Corporation and Panasonic Corporation among others.
The global Freezers Market is segmented as below:
Global Freezers Market, By Product Type
- Chest Freezer
- Upright Freezer
Global Freezers Market, By Door Type
- 1 Door
- 2 Door
- 3 Door
- 4 Door
Global Freezers Market, By Capacity
- 200 & below
- Less than 50
- 500 & Above
Global Freezer Market: By Application
Global Freezers Market, By Geography
- North America
- The U.S.
- Rest of North America
- The U.K
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Rest of MEA
- South America
- Rest of South America