Germany Refrigeration Appliances Market 2022-2028

Germany Refrigeration Appliances Market 2022-2028

MARKET OUTLOOK

The Germany refrigeration appliances market is anticipated to progress with a revenue CAGR of 3.52% over the forecast years from 2022 to 2028. The market (by category) is also expected to grow with a volume CAGR of 1.29% in this duration.

An important factor contributing to the continued demand for high-capacity refrigeration units is the increased need for food storage for several German households since the onset of the COVID-19 pandemic. This increased the popularity of energy-efficient refrigeration appliances, and has positively impacted the growth of the refrigeration appliances market in Germany. Further, the uncertainty brought on by the pandemic resulted in greater savings for Germans due to less travel and socializing. This also increased their purchasing power.

Moreover, built-in fridge freezers and electric wine coolers/chillers are anticipated to outperform their freestanding equivalents during the forecast period. This has provided an excellent growth opportunity to businesses offering excellent quality and premium brands. Additionally, manufacturers of refrigeration appliances are anticipated to incorporate smart hardware, such as cameras, in their products. Such novel developments would be a key part of their growth strategy.

COMPETITIVE OUTLOOK

Some of the key players that have established themselves in the German refrigeration appliances market include C Bomann GmbH, Haier Group Corporation, Miele, Liebherr Group, and BSH Hausgerate GmbH.