Refrigeration Appliances

Following a year of healthy growth in 2022, the demand for refrigeration appliances slowed in 2023 due to inflationary pressures and unfavourable weather conditions. Sporadic rain during the summer months disrupted sales for cooling products such as…

Following the outbreak of COVID-19, Taiwan reopened the national border at the end of 2022, leading many consumers to travel abroad after having restrictions in place for over two years. In addition to a shift from spending on goods to experiences,…

Refrigeration appliances remains in a slight volume slump in 2023, albeit showing an improvement compared to the steeper declines seen in 2022. This is cited as an organic decline following the previous sales boost seen during the era of the…

Demand for refrigeration appliances was at a low in 2023, recording a retail volume decline for the third consecutive year. Sales were high during COVID-19, with consumers purchasing refrigeration appliances in line with heightened time spent in the…

Post-pandemic the demand for refrigeration appliances has dropped in Malaysia, largely thanks to the decrease in purchases of freestanding fridge freezers, a segment that had previously seen significant growth. The decrease was a result of a…

Refrigeration appliances registered a stronger volume decline in 2023, compared to the previous years, as consumer confidence remained suppressed. Portugal’s high rate of inflation has resulted in further retail price growth, alongside the…

Sales in refrigeration appliances have crept back into small positive volume growth, after the category’s previous years of slumps. This is in part attributed to the hot summer season in Vietnam, driving demand for refrigeration appliances which…

While many consumers continued to face financial pressures at the end of the review period, customisation gained importance as higher-income consumers wanted personalised products that fit with their design and aesthetic requirements. Thus,…

Refrigeration appliances remains in a volume slump in 2023, following the boost to sales seen in the earlier review period, supported by the cocooning and home-renovation trends seen during the era of the pandemic. For example, freezers were popular…

Retail volume sales of refrigeration appliances witnessed further decline in 2023 as consumers grappled with higher costs of living. The purchase of new appliances has been weakened by the slowdown in the housing market, as fewer people moved homes.…

In 2023, refrigeration appliances experienced a significant decline in volume terms due to challenging economic conditions, despite being among the most essential categories in Nigeria's consumer appliances sector. Although 2022 had already faced…

In 2023, retail volume growth in refrigeration appliances gathered momentum, with sales moving well above pre-pandemic levels. Consumers are no longer able to delay replacing their old refrigeration appliances and have had to make the investment.…

The year 2023 saw a notable downturn in the sales of refrigeration appliances, primarily influenced by the sluggish state of the housing market. This downturn marked a continuation of the negative trend observed in 2022. Despite the decline in volume…

There was a slight decline in retail volume sales noted in refrigeration appliances in 2023, with sales of freezers falling. These products significantly consume energy, and with the substantial price increase seen in 2023, most consumers were not…

Freestanding is the most popular format within refrigeration appliances, with 92% of overall volume in 2023. Built-in refrigeration appliances did not experience the same boom as freestanding refrigeration appliances did during COVID-19, as these…

There is a noteworthy emergence of a niche market consisting of high-income customers who own modern homes and view refrigeration appliances as a fusion of functionality and home decoration. High-income customers, who can afford to invest in modern…

Saudi Arabia boasts one of the largest home appliances markets in the Middle East region, owing to consumers’ enhanced lifestyles and strong purchasing power, thanks to thanks to increasing job security, more women and youth in the workforce, and the…

Refrigeration appliances in Mexico has sustained a positive trajectory throughout 2022 and into 2023 in terms of volume sales growth, buoyed by the enduring trend of remote working and hybrid work models that encourage Mexicans to spend increased…

The government scheme, Recycle, Replace Appliances, was launched in Greece in 2022, offering up to EUR500 subsidies for replacing old refrigeration appliances by upgrading to more energy-efficient models. This scheme has contributed to huge growth in…

Since February 2023, there have been repeated currency devaluations in Egypt alongside high inflation rates. This has led to a sharp increase in unit prices of refrigeration appliances, rising by 70% in 2022 and another 45% in 2023. The short-term…