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Inverter Refrigerators Market

Inverter Refrigerators Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

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.

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

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
Inverter Refrigerators Market

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