Refrigeration appliances in India underwent regulatory revisions in early 2023, mandating net capacity declaration and requiring separate star labelling of freezers and refrigerator provisioning units (storage part). This resulted in manufacturers investing in product redesign and advanced technologies to meet the new energy standards set by Bureau of Energy Efficiency (BEE). As manufacturers transitioned fully to the new regulatory norms in 2024, consumers faced relatively higher upfront costs,

In 2024, demand for refrigeration appliances in Germany continues to decline, driven by a mix of economic and demographic factors. Strong inflationary pressures have forced many households to reassess spending, prioritising essential purchases and cost-saving strategies. As a result, many consumers are choosing to extend the lifespan of their existing appliances or invest in refurbishments rather than purchasing new models. Additionally, reduced mobility among Germans is playing a critical role.

In 2024, refrigeration appliances in Ukraine continued to recover from the slump in demand due to the outbreak of war in February 2022. Indeed, overall retail volume sales of refrigeration appliances exceeded the 2021 level for the first time in 2024. This was due to the performances of freezers and fridge freezers. Despite growth in retail volume sales, the market sizes of fridges and electric wine coolers/chillers remained slightly below their 2021 level.

Retail volume sales of refrigeration appliances declined in Israel in 2024. Concerns over how to effectively recycle fridges and freezers hindered market growth during the year, not to mention the cost of replacing such large appliances. Many fridges and freezers are often illegally disposed of by being burnt, which disperses highly toxic fumes and is causing concern for consumers. There are some nascent moves to get Israeli companies to pick up appliances such as fridges, freezers and then recy

Refrigeration appliances in South Korea experienced declines in both retail current value and volume terms in 2022 and 2023, and this is set to continue in 2024. Although the rate of decline is expected to slow in 2024 compared with the previous year, the category continues to face challenges due to the ongoing economic downturn. In addition, during COVID-19 there was a significant increase in the number of consumers investing in refrigeration appliances to improve their home environment, result

Retail volume sales decreased in refrigeration appliances over 2024 due to weaker demand in the post-pandemic era. There was a spike in household purchases of refrigeration appliances at the height of the pandemic, but household spending priorities have shifted in the aftermath, with higher spending on activities, services and experiences in 2024. Investments in the kitchen are a relatively low priority by comparison. The weak economic climate has also been a hindrance to category performance, a

Sales of refrigeration appliances continued to see a significant decline in sales in retail volume terms in 2024 for the third straight year. One of the major factors contributing to this decline is the correlation between sales of built-in refrigeration appliances and the housing market. As built-in refrigeration appliances are typically installed in new or renovated homes, their sales often align with the number of houses being sold or renovated in any given year. In recent years, the Dutch ho

Consumer demand for refrigeration appliances rebounded well in 2024, although growth was still limited by market saturation and more cautious spending behaviour amid economic challenges. There was a notable recovery in volume sales of fridge freezers compared to separate fridges and freezers where sales continued to decline. The purchase of new appliances is still weakened by the slowdown in the housing market, as fewer people move home. Budgetary pressure on disposable income remains a key issu

In 2024, the steep fall in the demand for refrigeration appliances in Greece was heavily impacted by the fast increase in retail volume sales in 2023. The government offered subsidies in the form of vouchers for consumers to replace older refrigeration appliances with new, more energy-efficient models. The households that received the vouchers replaced their refrigeration appliances in 2023. In 2024 sales derived from new purchases by new households, home refurbishments or the replacement of a w

Retail volume sales of refrigeration appliances are set to fall in Hungary in 2024. At the same time, the category is expected to register a slight increase in value sales in current terms, mostly supported by increasing prices. However, these increases in price were significantly lower than in 2023, so that the impact on volume sales has been less marked than in the previous year.

Refrigeration appliances in Taiwan posted a weak sales performance in comparison to the highs seen during the pandemic, although there was a marked improvement year on year. Taiwan only began to recover from the COVID-19 pandemic following the reopening of its national borders towards the end of 2022. Many locals travelled aboard after being restricted for over two years and this reduced the spending allocated towards consumer appliances. The weak housing market only exacerbated this trend with

The year 2024 was the third consecutive year of volume sales decline for refrigeration appliances in Romania. With one of the highest inflation rates in the EU during 2023 and 2024 and consumer purchasing power in decline, Romanians have become more reluctant to spend on big ticket items, including refrigeration appliances. In addition, consumers have become more price sensitive and more inclined to purchase private label. In 2024, volume sales did not decline to the extent that was expected as

Fridge freezers, the dominant category in refrigeration appliances in Egypt, continued to see positive retail volume growth in 2024, supported by organic growth in the population and number of households. As currency valuation stabilised during 2024, after the sharp devaluation on the black market in January 2024, product prices remained high, but cooled appreciably compared with January. The double-digit increase in the average retail current unit price in 2024 was more than one half lower than

Despite another fall in retail volume sales of refrigeration appliances in Australia, overall demand in 2024 remains higher than pre-pandemic levels. There is a trend towards greater awareness of healthy eating and cooking at home. As consumers’ expenditure restricts their visits to foodservice establishments due to an unstable economy, and as there is still a strong presence of remote and hybrid working environments, many Australians continue to cook eat and cook more frequently at home. This i

Demand for freezers and fridges in Hong Kong continues to decline significantly in 2024 due to the prevalent trend of small living spaces in the city. This is in addition to the population’s preference for refrigeration appliances that have combined cooling and freezing functions, as they can free up useful living space for other appliances. This trend is being accelerated by the plateauing of Hong Kong’s population as birth rates decline, while there is as an increase in local citizens emigrati

Refrigeration appliances were negatively affected by the maturity of refrigeration appliances in 2024 and the high level of replacement during the pandemic years. Economic uncertainty and financial constraints resulted in consumers avoiding major investments unless they were completely necessary. In the current climate, mid-priced brands have been impacted with Bosh particularly affected. BSHP Electrodomésticos Lda has seen a drop in volume share as consumers switched to premium offers or traded

Retail volume sales of refrigeration appliances are set to fall in Norway in 2024. The expected fall in sales is reflective of a weak immediate need for households to purchase refrigeration appliances given the length of replacement cycles and the strong volume sales seen at the height of the COVID-19 pandemic, when people spent more time at home and focused on home cooking and stocking up on food, which needed to be kept fresh for longer. In addition, the lack of alternative spending options me

Whilst refrigeration appliances are considered an essential by most middle- and upper-income groups in Morocco, the slump in the housing market over 2024 dented sales of new refrigeration appliances and particularly built-in appliances. Although built-in appliances are considered very trendy and are highly sought after among middle- and upper-income groups, rising house prices led to a slowdown in the number of people moving house. The rising cost of electricity and raw materials led to a genera

Over 2023-2024, refrigeration appliances in Vietnam continued to see a decline in retail volume sales. This owed much to the reduced demand for upgrades among households in the country. The category has reached saturation in fridge freezers, offering few growth opportunities, and limiting the need for other types of refrigeration appliances. While the household penetration rates of fridges and freezers remained tiny and negligible, respectively, in 2024, fridge freezers recorded a triple-digit r

Sales of refrigeration appliances saw steady growth in retail volume terms in 2024, with similar growth rates to the previous year. The demand for refrigeration appliances in Singapore is intricately linked to the launch of Housing and Development Board (HDB) Built-to-Order (BTO) flats and condominiums. When new HDB BTO flats and condominiums are launched, they often come equipped with modern amenities and well-designed kitchen spaces. As prospective homeowners explore these newly built residenc

Refrigeration appliances is expected to continue to see growth in retail volume terms in 2024, driven by rapid urbanisation and the increasingly busy lifestyles of urban consumers. As more people move to cities and adopt hectic schedules, the demand for reliable and efficient refrigeration solutions has risen. These appliances are essential for preserving food and beverages, making them indispensable in modern urban households. The expanding urban population and the need for convenience have bee

Refrigeration appliances in the US is set to see another year of decline in 2024, with all categories expected to face falling retail volume sales. This is due to a continued trend of normalisation after a period of robust expansion during the pandemic, primarily fuelled by the heightened consumer demand for food storage solutions during prolonged time spent at home. In addition, the increased spending on refrigeration appliances, particularly in 2021, is still a relevant factor in 2024 for anot

Retail volume sales of refrigeration appliances in the United Arab Emirates continue to rise, with overall demand recovering to pre-pandemic levels in 2024. However, there have been varied performances across the category. Built-in refrigeration appliances continues to rebound with robust retail volume growth, driven by consumer preferences for integrated kitchen designs, particularly in high-end residential projects, but demand still lags behind 2019 levels. On the other hand, freestanding refr

Despite rising average prices in 2024, consumers continued to purchase refrigeration appliances in Nigeria. Essential items such as freezers proved popular due to economic uncertainty and fear that prices will continue to increase. With high costs of living still plaguing consumers and limiting disposable income, consumers chose to buy now to get more value for their money. There was also financial support from some provincial governments, which helped consumers to purchase freezers and ease cos