Vertical Freezers Market - Introduction
Vertical freezer is a vertical storage unit that resembles an oversized refrigerator unit. Vertical freezers usually make use of one or two doors like a refrigerator, rather than a single lid that is raised on a chest freezer. A vertical freezer is more useful in the event of space constraint. It has vertical shelves, baskets, and door bins making it easy to find and organize food in the freezer. Probably the best convenience feature of a vertical freezer is its ability to better organize the frozen foods, making it easier to monitor and rotate content to keep frozen foods fresh. Some vertical models have versatile storage systems with removable and adjustable door storage sliding, bins, and adjustable shelving and pull out baskets or bins.
Increasing disposable income and increasing demand from middle class families in developing economies is anticipated to drive the demand for vertical freezers during the forecast period. However, availability of alternatives and higher energy conservation standards is expected to be key constraints for the growth of the vertical freezer market during the period of study.
Vertical Freezers Market –Competitive Landscape
LG Electronics was established in 1958 and has since pioneered the advanced digital era with technological expertise acquired by manufacturing many home appliances such as radios and TVs. The company operates through segments such as Home Appliance & Air Solution; Mobile Communications; Home Entertainment; Vehicle Components; LG Innotek Co., Ltd.; and Other. The Home Appliance & Air Solution segment provides refrigerators, freezers, cooking appliances, air conditioners, built-in appliances, vacuum cleaners, washing machines, air purifiers, dishwashers, dehumidifiers, and other products. The company operates through 119 local subsidiaries across the world.
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Haier Group Corporation
Haier Group Corporation was founded in 1984 and is headquartered in Qingdao, China. It manufactures home appliances such as refrigerators, washers, integrated kitchenware, and small scale electrical appliances. The company has expanded its range of products in a diversification move. In addition, it has pursued a globalization effort and built a sales network in more than 160 countries. It has presence in more than 38,000 retail outlets worldwide. The company markets and sells its products through various distribution channels in China and across the world. The Group’s products are sold in more than 150 countries
Electrolux is a global provider of appliance products to both consumers and businesses. The company’s operations are divided into six segments: Major Appliances Asia/Pacific; Major Appliances North America; Major Appliances Europe, Middle East, and Africa; Major Appliances Latin America; Home Care & SDA; and Professional Products. The company offers products such as refrigerators, washing machines, vacuum cleaners, dishwashers, cookers, air conditioners, and small domestic appliances. It offers its products under brands such as Electrolux, AEG, Zanussi, and Frigidaire. The company’s products are sold in more than 150 countries
Whirlpool Corporation manufactures products in 15 countries and markets them around the world under brand names such as Whirlpool, Indesit, Jenn-Air, Brastemp, Maytag, Amana, Consul, KitchenAid, Bauknecht, and Hotpoint. The company defines its operating segments based on geography. Whirlpool's operating segments consists of North America, Europe, Middle East & Africa, Latin America, and Asia. Whirlpool manufactures and markets a full line of major home appliances and related products. Its principal products are refrigerators and freezers, laundry appliances, dishwashers, cooking appliances, mixers, and other small domestic appliances. The company also produces hermetic compressors for refrigeration systems.
Midea is a provider of consumer appliances, HVAC systems, robotics & industrial automation systems, and smart supply chain solutions (logistics). The company offers diversified products and services, including consumer appliances centered on kitchen appliances, heating & ventilation systems; HVAC centered on residential air-conditioning, commercial air-conditioning, refrigerators, laundry appliances, and various small home appliances; and robotics and industrial automation systems. The company has established a global platform of around 200 subsidiaries. It has more than 60 overseas branches and 12 strategic business units.
Other prominent players operating in the vertical freezers market include Bosch, Sears Holdings, Samsung Electronics Co., Ltd, Kelvinator, and Frigidaire
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Vertical Freezers Market –Dynamics
Emerging Technologies to Shape the Growth of the Vertical Freezers Market
Changing consumer preferences and advances in technology have revolutionized the designs of kitchen and home appliances. Tech-savvy consumers prefer to use products which are energy-efficient and have a long lifespan. These technological developments are expected to act as a significant driver aiding the growth of the vertical freezers market. Furthermore, growing demand for renewable energies and energy saving alternatives with the rising adoption of environmental thinking appliances is further anticipated to facilitate the growth of the smart vertical freezers market.
Asia Pacific to Remain a Forerunner in the Demand for Vertical Freezers
Asia Pacific is expected to be the most lucrative market due to the strong vertical freezer manufacturer base and large number of households using vertical freezers in the region. Furthermore, the region is anticipated to expand at an impressive CAGR, owing to increasing number of small families requiring smaller freezing units to meet their daily needs, and rapidly expanding retail networks especially in major regional economies such as China and India.
Vertical Freezers Market –Segmentation
The vertical freezers market can be bifurcated based on:
- Defrost Type
Vertical Freezers Market Segmentation – By Capacity
Depending on capacity, the vertical freezers market can be classified into:
- Less than 1 cu.Ft.
- 2-5 cu.Ft.
- 5-8 cu. Ft.
- 8-11 cu. Ft.
- 11-14 cu. Ft.
- 14 above cu. Ft.
Vertical Freezers Market Segmentation – By Defrost Type
Based on defrost type, the vertical freezers market can be classified into:
- Frost Free
Vertical Freezers Market Segmentation – By Application
In terms of application, the vertical freezers market can be bifurcated into:
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