Drawer Refrigerator Market: Global Industry Analysis and Forecast (2023-2029)

Drawer Refrigerator Market was valued at US$ 1.69 Bn. in 2022. Global Drawer Refrigerator Market size is estimated to grow at a CAGR of 9.36% during the forecast period.
Drawer Refrigerator Market Overview:
Drawer refrigerators are used to store drinks, dairy products, meats, and vegetables. It provides convenience features to consumers. It is becoming an essential part of traditional kitchen designs and modular kitchens. The Drawer refrigerators have high demand scope for commercial applications like pubs, bars, restaurants, hotels, recreational vehicles (RVs), marines, consumer and passenger vehicles (CPVs), and quick service restaurants (QSRs). Key players operating in the market are focusing on deployment of drawer refrigerators with customized and fit in stainless-steel cabinets with different panel options. With the customization, they also concentrate on additional storage space to consumers. To know about the Research Methodology :- Request Free Sample Report
Drawer Refrigerator Market Dynamics:
Drawer refrigerators consist of drawer panels instead of doors. An increase in preference for energy-efficient drawer refrigerators is one of the key factors, which is expected to drive growth of the global drawer refrigerator market. Consumers are gradually opting for products, which are environment-friendly and deliver high energy-efficiency. A shift in consumer lifestyles, the demand for energy-efficient and innovative appliances, and product premiumization are some of the prominent factors behind the growth of the market.

An expansion of commercial refrigeration is expected to grow continuously because of the growing importance of food preservation. The drawer refrigerator market growth is driven by the factors like rise in nuclear families, disposable income, and focus on enhanced lifestyle products. The refrigerators such as drawer refrigerators can last between 8 and 10 years, depending on how well they're maintained and how often they're used. Drawer refrigerators are specialized equipment, which is generally meant to be built for kitchen application. It has a cost more than a freestanding refrigerator.

Energy-Efficient Drawer Refrigerators: Driving the market growth

Refrigerators are becoming an integral part of the mainstream of households. An increase in consumer focus on energy efficiency exerts and growing influence on the development of drawer refrigerators are expected to boost its adoption. The demand for energy-efficient and energy management devices are increasing at a rapid rate. the consumer inclination towards the advancement of existing refrigerator infrastructure have positively influenced the industry outlook. An efficient electricity consumption, reducing the electricity bills, opportunities to realize efficiency gains, and the potential to lower carbon emissions are some of the key factors that driving massive global investment in the drawer refrigerators infrastructure. An increase in awareness towards the environment and eco-friendly products are expected to boost production of drawer refrigerators.
Drawer Refrigerator Market Segment Analysis:
The commercial application segment is expected to share more than 45% share in the global drawer refrigerator market. The rapid expansion of the number of hotels, pubs, bars, QSRs, is expected to contribute to major market share during the forecast period. The presence of high residential and commercial sector across developing countries like India are expected to drive the demand for drawer refrigerator during the forecast period. The policies of the Indian government are bringing investments from international players, and international technology into drawer refrigerator market. The drawer refrigerator demand is driven by the escalating consumer preferences towards connected home appliances, which have enhanced capabilities and features. Drawer Refrigerator are expected to represent a high growth potential because of their ability to deliver convenient side opening for the minimization of user efforts. Drawer Refrigerators provide aesthetic appeal to kitchens.
Drawer Refrigerator Market Regional Insights:
The Asia Pacific region is projected to be leading position by 2029

The Asia Pacific region is projected to be the leading position in the global drawer refrigerator market. The leading position in the market is attributed to the shift in consumer lifestyle and expansion of the commercial sectors across developing countries like China and India. The prominent manufacturers are focusing to manufacture energy-efficient products to supply the requirements of the consumers. The rapid urbanization across commercial and residential sector and high disposable income are expected to boost regional market growth. A consumer inclination toward an expenditure on kitchen electrical appliances, technology developments in consumer electronics products, an increase in the number of product innovations are some of the driving factors, which are expected to increase the demand for drawer refrigerators in the near future.

The governments of numerous countries across the globe are also presenting regulations like guidelines for manufacturers and are also focusing to increase awareness on the supreme usage of natural resources to limit pollution. With the growing government regulations, the demand for energy-efficient drawer refrigerators is expected to increase during the forecast period. Key players operating in the drawer refrigerator market are focusing on the development of innovative refrigerators by opting for newer freezing technologies, which offer key advantages in terms of improvement in food quality. The report covers the detail analysis of the regional insight of North America, Europe, Asia Pacific, Middle East& Africa and South America region.

Some of the prominent key players like Haier, Whirlpool, Middle by Corporation, dometic group ab, And Felix Storch are contributing more than 75 % market share in the total Drawer Refrigerator Market growth by deploying number of refrigerator unit across the globe. If new entrants have to make a significant investment and build their position, they will eventually lead to strong rivalry in the global drawer refrigerator market during the forecast period. New entrants are expected to form their robust footprint across the globe by following number of federal, state, local and multi-national regulations related to labelling, packaging, pricing, marketing and advertising. On the other hand, established players like Haier, Whirlpool, Middle by Corporation, Dometic Group AB, and Felix Storch are defining the standards regularly, which is expected to reduce the window of extraordinary profits for new players in the drawer refrigerator market. Brand loyalty of the prominent key players are expected to increase the buying power.

The objective of the report is to present a comprehensive analysis of the global Drawer Refrigerator Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Drawer Refrigerator Market dynamic, structure by analyzing the market segments and projecting the Drawer Refrigerator Market size. Clear representation of competitive analysis of key players by Application, price, financial position, product portfolio, growth strategies, and regional presence in the Drawer Refrigerator Market make the report investor’s guide.
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Global Drawer Refrigerator Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 1.69 Bn.


Forecast Period 2023 to 2029 CAGR:
9.36%
Market Size in 2029:
US $ 3.17 Bn.


 Segments Covered:
by Distribution Channel
• Offline
• Online


by Application
• Commercial
• Residential



Drawer Refrigerator Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Drawer Refrigerator Market Key Players are:
• Middleby Corporation
• Whirlpool
• Indel Webasto Marine
• Dometic Group Ab
• Felix Storch
• Haier
• Perlick Corporation
• Robert Bosch GmbH
• SUB-ZERO Group
• Vitrifrigo S.r.l
• Meneghini La Cambusa Refrigerator
• Northland Primary Series
• Panasonic
• Midea
• Electrolux
• Bosch

Frequently Asked Questions:

1] What segments are covered in the Drawer Refrigerator Market report?
Ans. The segments covered in the Drawer Refrigerator Market report are based on Distribution Channel and Application.

2] Which region is expected to hold the highest share in the Drawer Refrigerator Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Drawer Refrigerator Market.

3] What is the market size of the Drawer Refrigerator Market by 2029?
Ans. The market size of the Drawer Refrigerator Market by 2029 is US$ 3.17 Bn.

4] What is the forecast period for the Drawer Refrigerator Market?
Ans. The forecast period for the Drawer Refrigerator Market is 2023-2029.

5] What was the market size of the Drawer Refrigerator Market in 2022?
Ans. The market size of the Drawer Refrigerator Market in 2022 was US$ 1.69 Bn.