Analysis of European Refrigerator Freezer Market

The refrigerator and freezer market in Europe is a very large market involving many consumers and manufacturers. This article will analyze the refrigerator and freezer market in Europe in terms of consumption, production, upstream demand, market outlook and major customers.

1. Consumption

Europe is an economically developed region, and the penetration rate of household appliances is very high. According to a report released by the market research company Statista, the total sales of the European refrigerator and freezer market in 2022 will be 15.92 billion and 2.53 billion US dollars, respectively, and the compound annual growth rate is expected to be 4% in 2023-2028. Among them, Germany, the United Kingdom, France, Italy and Spain are the largest consumers in the European refrigerator and freezer market.

Second, output

There are many refrigerator and freezer manufacturers in Europe, some of which have important positions in the global market. According to data released by Statista, the sales of home appliance manufacturing in Europe in 2022 will be 92.38 billion US dollars, including the manufacture of refrigerators and freezers. Major refrigerator and freezer manufacturers in Europe include Bosch, Siemens and KitchenAid in Germany, Effie in Italy, Haier in France, Iger in Sweden and Whirlpool in the UK.

3. Upstream requirements

The most important insulation material for refrigerators and freezers is polymeric MDI, which is mainly used to produce polyurethane foam. Polyurethane foam is an excellent thermal insulator that maintains cold temperatures in coolers and refrigerators to prevent food and drink from spoiling. According to the figure below of polymeric MDI imports from China by European countries, the polymeric MDI exported from China to Europe from January to February 2023 will reach 56,646 tons, an increase of 213% year-on-year. Compared with the sluggish economic situation in 2022, this is undoubtedly a huge significant growth.

Data source: China Customs data collation

Fourth, market prospects

European refrigerator and freezer market prospects are promising, thanks to European people's emphasis on environmental protection and energy conservation. Consumer demand for more energy-efficient and environmentally-friendly products will continue to increase in the coming years. In addition, with the continuous improvement of people's living standards, the requirements for refrigerators and freezers are getting higher and higher, such as larger volume, higher cooling efficiency, and smarter control.

5. Main customers

The main customers of refrigerators and freezers in Europe include individual consumers and commercial customers. Individual consumers are the major customers of the market, who purchase refrigerators and freezers for their home use. Commercial customers include supermarkets, restaurants, hotels, etc. who purchase refrigerators and freezers for storing and displaying food and beverages. Among home appliance retailers and furniture dealers, well-known brands include Siemens, Bosch, Haier, etc. In the field of supermarkets, major European supermarket chains include ALDI and LIDL in Germany, Tesco and Sai in the UKnsbury's, Carrefour and Auchan in France, etc.

In addition, as consumers increasingly demand for environmental protection and energy efficiency, the European refrigerator and freezer market will also face more challenges and opportunities. Many countries have enacted strict environmental regulations and energy standards, and these regulations and standards will also affect the product design and production of refrigerator and freezer manufacturers. Overall, the European refrigerators and freezers market is facing intense competition and changing market conditions. However, with the continuous development of technology and the changing needs of consumers, this market will continue to provide opportunities and challenges.

Conclusion

The European refrigerator and freezer market is a large and growing market with broad prospects and potential. Despite the fierce competition and ever-changing market environment in the market, the market will continue to provide both opportunities and challenges as technology advances and consumer demands change. With increasing demands for environmental protection and energy efficiency, manufacturers will need to continuously innovate and improve product designs to adapt to market changes and demands in order to maintain a competitive advantage.