A comprehensive breakdown and segmentation of the global chest and upright freezer market by product (chest and upright freezers). It also outlines the market shares of key regions such as, Europe, North America, APAC and ROW. The report further presents the major trends influencing market growth and a detailed study of the top vendors in the market, including Bosch, Danby, Electrolux, Haier, Sears Holding, and Whirlpool.
Technavio’s market research analysts estimate the global chest and upright freezer market to grow at a CAGR of 4% between 2016 and 2020. Booming frozen food market and increase in kitchen renovations for space saving solutions are major factors boosting the demand for chest and upright freezers. Europe dominates the global market for chest and upright freezers, occupying 37% of the total market share. Much of this region’s growth comes from the rising demand for frozen food products that have increased the demand for cold appliances like chest and upright freezers.
The new market research report from Technavio provides a breakdown and analysis of the chest and upright freezer segments by technology.
“Vendors are incorporating advanced features in freezers such as auto fast-freeze and manually adjustable thermostats. They are also equipping freezers with interior LED freezer lights, anti-bacterial coatings on shelves and baskets, child-safety locks, rollers for easy portability, and reversible doors. Some manufacturers are also developing freezers with adaptive technology that monitor the usage patterns and adjust the energy consumption accordingly,” says Jhansi Mary, Lead Analyst, Education, Technavio Research.
Consumers preferably opt for upright freezers, which account for 65% of the total market share, owing to their ergonomic design. These freezers are more space-efficient compared to chest freezers, as they need lesser floor space. Moreover, upright freezers include both manual and automatic defrost options. Vendors like GE have introduced built-in varieties of upright freezers.
The leading vendors in the global chest and upright freezer market include Bosch, Danby, Electrolux, Haier, Sears Holding, and Whirlpool. This market is well-diversified with the presence of various international and domestic vendors. Intense competition prevails in this market, as vendors constantly aim towards product innovations and technological developments. The market is expected to witness increase in consolidation during the forecast period.
A more detailed analysis is available in the Technavio report, Global Chest and Upright Freezer Market 2016-2020.
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