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Report
Germany Household Side By Side Refrigerator - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029
Market Report I 2024-02-17 I 120 Pages I Mordor Intelligence
The Germany Household Side By Side Refrigerator Market is expected to register a CAGR of 5% during the forecast period(2024-2029).
Germany has a large domestic appliance market and is renowned for its manufacturing and engineering excellence. The refrigerator market in Germany is a reflection of this cultural focus on design and appearance. There is an increasing trend towards appliances that are energy efficient and eco-friendly in Germany. Consumers in Germany value functionality and practicality in their appliances. Refrigerators offer a wide range of features to meet their needs, such as storage space, shelving options, and easy-to-use organization systems. Germany is a country with a rich manufacturing tradition, and the refrigerator market reflects this. Manufacturers are known for their high-quality manufacturing processes, which demonstrate their expertise and attention to detail. German consumers like refrigerators with low noise levels and energy-saving modes, which allow them to adjust the operation of the refrigerator according to their usage patterns and reduce energy consumption. Low noise levels are especially important in kitchens and living spaces where there is a need for quiet operation.
The current market for side by side refrigerators is on the rise and is expected to grow significantly in the years to come. The demand for stylish and contemporary kitchen appliances is on the rise, as well as the need for larger storage capacity. Other factors that are driving the demand for side by side refrigerators are the increasing urbanization, the improvement in living standards, and the changing lifestyle of consumers. These factors, in turn, are leading to an increase in the demand for convenience, attractive kitchen appliances, and an increased focus on energy efficiency.
Moreover, it is anticipated that manufacturers will continue to introduce new product models with cutting-edge capabilities in order to draw in a broader customer base. Furthermore, the integration of artificial intelligence, smart home integration, and sustainable cooling technologies are expected to further contribute to the growth of the market. Furthermore, the growing focus on eco-friendly refrigeration systems and the advancement of energy-efficient technologies are expected to provide considerable growth opportunities in the future.
Germany Household Side-by-Side Refrigerator Market Trends
Raising Disposable Income in Germany is Driving the Market Growth
The disposable income per household is driving the refrigerator market growth. As the disposable income per household increases, the consumer demand for kitchen appliances like refrigerators increases. The German population is increasingly comprised of two-income households, which has led to an increase in the demand for a variety of refrigerating appliances due to their cost-effectiveness. This is due to the fact that per capita income is on the rise in Germany, the space for older models is limited, and the need for convenience is on the rise. Therefore, the demand for premium and high-quality products is also on the rise.
Moreover, new innovations in the side-by-side refrigerators products make the operation of kitchen appliances faster and more efficient. Technological progress has enabled the introduction of cutting-edge features, such as touchscreens, smart connections, and energy-efficient systems, which are contributing to the growth of the market. These developments have encouraged the need to purchase refrigerators. The surplus money and the increasing number of the working population in urban societies are expected to create a demand for high-quality products. With the increase in disposable income, several consumers have been able to purchase these advanced and innovative products offered by the manufacturers.
Online Segment is Dominating the Market
The online segment is projected to grow at a fast pace in the coming years due to the rise of the internet and smartphones, technological progress, digitalization, the variety of products available online, and the variety of discounts and offers available. Refrigerator manufacturers are also working with other companies to make sure their products are delivered and installed quickly after they've been sold online. Amazon and Otto are the two biggest online retailers in Germany, and the German population loves to shop online and get discounts and offers. Plus, there are lots of secure e-payment options available, so the German online market is sure to keep growing.
Germany Household Side-by-Side Refrigerator Industry Overview
Germany's household side by side refrigerator market is fragmented in nature as a large number of manufacturers are operating in this industry. Some prominent players are Siemens AG, Allgemeine Elektricitats-Gesellschaft AG, Bosch Group, Samsung, and Bauknecht Hausgerate GmbH, among others. The key manufacturers have been adopting mergers and acquisitions and new product development strategies to strengthen their presence and distribution channels and, thereby, gain a higher market share.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Internet Penetration and Rise in Urbanization are Driving the Market
4.3 Market Restraints
4.3.1 Rising Awareness on Environmental Protection to Hinder the Market Growth
4.4 Market Opportunities
4.4.1 Eco-friendly and Energy Efficiency Refrigerators
4.4.2 Introduction of New Products by Companies with Smart Technology
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Bargaining Power of Suppliers
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Impact of Technology in the Market
4.8 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Under 15 cu.ft.
5.1.2 15-20 cu.ft.
5.1.3 20-25 cu.ft.
5.1.4 Above 25 cu.ft.
5.2 By Distribution
5.2.1 Speciality Stores
5.2.2 Supermarkets/ Hypermarkets
5.2.3 Online Stores
5.2.4 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Siemens AG
6.2.2 Allgemeine Elektricitats-Gesellschaft AG
6.2.3 Bosch Group
6.2.4 Samsung
6.2.5 Bauknecht Hausgerate GmbH
6.2.6 General Electric Co
6.2.7 Haier Group
6.2.8 Liebherr-Hausger te Ochsenhausen GmbH
6.2.9 Midea
6.2.10 Gorenje
6.2.11 Liebherr
6.2.12 LG*
7 FUTURE OF THE MARKET
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