Inverter Refrigerators: Introduction

  • Inverter refrigerators are manufactured with a compressor which fits with the inverter and refrigerator body. Inverter refrigerators can be operated at different speeds as per application.

Key Drivers of the Global Inverter Refrigerators Market

  • Invertor refrigerators are energy efficient, which is one of the major drivers of this market. Furthermore, inverter refrigerators also work with lower noise and higher compressor life.
  • LG Corporation was the first to launch single door inverter technology which became popular globally. Subsequently, other companies also started investing in this technology. Rising demand for energy efficient products at the global and regional level is expected to boost the inverter refrigerators market in the coming years.
  • Cost of inverter refrigerators is higher than normal refrigerators. Increasing middle class income in different emerging economies works as a favorable factor for the growth of this market. Companies are integrating inverter refrigerators with advanced technologies including smart connect and smart diagnosis through Wi-Fi and NFC connectivity. Premium and aesthetic look of these refrigerators are likely to create significant demand in the premium segment.
  • Covid-19 has significantly decreased demand for inverter refrigerators in 2020. However, the market is expected to witness substantial growth in 2021 and 2022.

Rising Demand from the Commercial Segment to Create New Market Opportunities

  • Demand for inverter refrigerators is increasing at a higher pace in the commercial segment. Large number of corporate and IT industries prefer to install small and medium sized inverter refrigerators for their employees. This trend is expected to create new opportunity in the inverter refrigerators market.

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Fluctuation in Raw Material Prices to Restrict Market Growth

  • Global metal price is changing every year. This factor is anticipated to restrict the growth of the inverter refrigerators market in the coming years.

Asia Pacific the Dominant Market for Inverter Refrigerators

  • Asia Pacific is projected to be the fastest growing inverter refrigerators market over the forecast period 2020 to 2030. Rising investment in several end-use industries coupled with increasing usage of inverter refrigerators in manufacturing industries of developing economies such as China and India is driving market growth.  Large number of small and medium scale manufacturers are present across China, India, Japan, and Korea, which is one of the key factors responsible for the Asia Pacific inverter refrigerators market growth.

Key Players Operating in the Global Market

The global Inverter refrigerators market is slightly fragmented in nature. Key market participants are signing strategic partnerships and taking strategic merger and acquisition decisions to increase their global market reach. Few of the key players operating in the global inverter refrigerators market are listed below:

  • Godrej Group
  • Haier Group Corporation
  • Hisense Group
  • Hitachi, Ltd.
  • LG Electronics Inc.
  • Midea Group
  • Mitsubishi Electric
  • Panasonic Corporation
  • Robert Bosch
  • The Samsung Group
  • The Whirlpool Corporation
  • Toshiba Corporation

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Global Inverter Refrigerators Market: Research Scope

Global Inverter Refrigerators Market, by Capacity

  • Below 200 L
  • 200L - 300 L
  • 300 L-400 L
  • 400 L-500 L
  • 600 L – 700 L
  • Above 700 L

Global Inverter Refrigerators Market, by Application

  • Residential Refrigerators
  • Commercial Refrigerators
  • Industrial Refrigerators

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Inverter Refrigerators Market

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