The European Refrigerator & Freezer Market is very huge, involving numerous consumers and manufacturers. This article will give a brief analysis on the market on the basis of consumption, output, raw material, market outlook, and major customers.

I. Consumption

Europe is an economically developed region with a very high penetration rate of home appliances. The European sales of refrigerators and freezers were USD 15.92 billion and USD 2.53 billion, respectively, in 2022, and are projected to grow at a CAGR of 4% from 2023 to 2028, according to a report by market research firm Statista. Among the EU countries, Germany, U,K., France, Italy and Spain were the largest consumers of refrigerators and freezers.

II. Output

There are many manufacturers of refrigerators and freezers in Europe. Some of them have enjoyed important positions in the global market. The home appliance industry in Europe was valued at USD 92.38 billion in 2022, according to Statista. The main manufacturers of refrigerators and freezers in Europe include Bosch, Siemens, EFE, Haier, AEG and Whirlpool.

III. Raw Material

The most important thermal insulation material for refrigerators and freezers is polymeric MDI (PMDI), which is mainly used in the production of polyurethane foam. Polyurethane foam is an excellent insulation material that can maintain a low temperature environment in refrigerators and refrigerators to prevent food and drinks from spoiling. As shown in the table below, European PMDI imports from China reached 56,646 tonnes in January-February 2023, an increase of 213% year-on-year, which was undoubtedly a sharp increase compared to the poor performance in 2022.

Data Source: China Customs

IV. Market Outlook

Thanks to public awareness and knowledge of environmental protection and energy conservation, the market prospects for refrigerators and freezers in Europe are promising. In the coming years, consumers’ demand for more energy-efficient and eco-friendly products will further increase. With continuously growing living standards, consumers have made more requirements for refrigerators and freezers, such as larger capacity, higher cooling efficiency, and more intelligent.

V. Major Customers

The main customers of refrigerators and freezers in Europe include individual consumers and business customers. Individual consumers are the main customer group of the market. They buy refrigerators and freezers for home living. Business customers include supermarkets, restaurants, hotels, etc., who purchase refrigerators and freezers to store and display food and beverages. Among home appliance retailers and furniture manufacturers, well-known brands include Siemens, Bosch, Haier and so on. In the supermarket sector, major European supermarket chains include ALDI, LIDL, Tesco, Sainsbury’s, Carrefour, Auchan, etc.

Besides, the European refrigerator and freezer market is facing more challenges and opportunities. Many countries already have launched strict environmental regulations and energy standards that affect the product design and production of refrigerator and freezer manufacturers. The overall market is in fierce competitions and changing environment. However, with evolving technologies and varing consumer needs, European refrigerator and freezer market will continue to offer both opportunities and challenges.

Summary

The European refrigerator and freezer market is a large and growing market with great prospects and potential. Despite the fierce competition and ever-changing market environment, the market will continue to provide opportunities and challenges as technology advances and consumer needs keep changing. As environmental and energy efficiency requirements increase, manufacturers will need to continuously innovate and improve product designs to adapt to market changes and maintain a competitive edge.