Global Chest and Upright Freezer Market 2016-2020

An overview of the chest and upright freezer market

Technavio’s market research analyst predicts the global chest freezer market to grow steadily at a CAGR of over 3% while the upright freezer market is expected to grow at a CAGR of over 4% during the forecast period. One of the major drivers for the growth of the market is the growth in sales of frozen food products. Evolving economic, social, and demographic scenarios worldwide have influenced the perception of frozen food, thereby making it conducive to the rapid expansion of the global frozen food industry.

The boom in new residential construction and kitchen remodeling projects will also drive the market during the forecast period. With the increase in disposable income and improvement in standards of living, consumers are investing more on renovating their kitchens, opting for sophisticated, minimalistic, and practical designs. This has created a high demand for built-in appliances and innovative designs like modular kitchens, thereby motivating vendors to add built-in cold appliances to their portfolio to fulfill the needs of consumers. This trend is expected to follow over the years, thus leading to the growth of the overall market.

Product segmentation and analysis of the chest and upright freezer market

• Upright freezers
• Chest freezers

The convenience of use of upright freezers has led to its dominance during 2015 with a market share of almost 66%. Unlike chest freezers, the ergonomic design of upright freezers eliminates the need to bend or reach out to get food. Additionally, upright freezers are more space-efficient compared to chest freezers, as they need lesser floor space.

Geographical segmentation and analysis of the chest and upright freezer market

• APAC
• Europe
• North America
• ROW

Europe accounted for close to 37% of the market share during 2015 and is expected to grow at a CAGR of nearly 4% during the forecast period. Freezers are gaining popularity in Europe, with countries like Germany, Finland, and the UK showing promising growth rates. Moreover, the emerging markets of Eastern Europe and Latin America are also expected to grow during the forecast period.

Competitive landscape and key vendors

Leading players in the home appliance industry dominate at present, the global chest and upright freezer market. The market also marks the presence of other prominent vendors who are based mostly in Europe and the US. Competition among leading companies and the other prominent vendors is intense as there is little variation in the product offerings. The vendors in the market compete on price, quality, innovation, service, reputation, distribution, and promotion.

The leading vendors in the market include -

• Bosch
• Danby
• Electrolux
• Qingdao Haier
• Sears Holdings
• Whirlpool

Other prominent vendors analyzed in this market study are Avanti Products, Midea Group, Miele, Fisher and Paykel, Summit Appliance, and Sunpentown.

Key questions answered in the report

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global chest and upright freezer market?
• What are the key market trends impacting the growth of the global chest and upright freezer market?
• What are the challenges to market growth?
• Who are the key vendors in the global chest and upright freezer market?
• What are the market opportunities and threats faced by the vendors in the global chest and upright freezer market?
• What are the trending factors influencing the market shares of APAC, Europe, North America, and ROW?
• What are the key outcomes of the five forces analysis of the global chest and upright freezer market?

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