In 2022, LG held the leading position in the Indian refrigerator market with more than 30 percent of the market share. It was followed by Samsung with 29 percent of the market share. It was estimated that the revenue in this segment amounted to 14.74 billion U.S. dollars during the same year.

India Refrigerator Market is projected to reach USD 12.09 billion by 2033, growing at a CAGR of 9.37% from 2025-2033.

India Refrigerator Market was valued at USD 3.64 Billion in 2024 and is anticipated to grow with a CAGR of 10.2% through 2030.

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Market Size	2024: USD 3.64 Billion
Forecast Market Size	2030: USD 6.51 Billion
CAGR	2025-2030: 10.2%
Fastest Growing Segment	Smart
Largest Market	North
Key Players	1. LG Electronics India Private Limited 2. Samsung India Electronics Private Limited 3. Godrej & Boyce Manufacturing Company Limited 4. Whirlpool Of India Limited 5. Haier Appliances (India) Private Limited 6. Hitachi India Private Limited 7. Panasonic India Private Limited 8. Blue Star Limited 9. Bosch Limited 10. Siemens Limited

The production volume of refrigerators stood at over 12 million units across India in fiscal year 2020. That year, the market value of refrigerators across the south Asian country was forecast to be over 3.5 billion U.S. dollars. Refrigerators made up a share of 27 percent of the consumer appliance market. The domestic electronics industry was expected to increase at a compound annual growth rate of nine percent by 2022.

The growth of consumer durables

Increased electrification of rural areas created a higher demand for refrigerators and air conditioners across the subcontinent. The penetration rate of consumer goods was substantially lower in India than the global average. With huge potential for expansion in the rural areas and a 100 percent FDI possibility in the electronics manufacturing sector, significant investments from foreign players came through. A National Electronic Policy was also passed early 2019 to boost production.

Steady demand and supply

A growth rate of over five percent was observed in consumer durables production in fiscal year 2019. Recent FDI policies are likely to make better quality products available at lower prices by eliminating the middlemen from the supply chain. The demand for consumer durables is likely to remain unaffected by the coronavirus (COVID-19).

Household Side by Side Refrigerator Market Report is Segmented by Type (Under 15 Cu. Ft. , 15-20 Cu. Ft. , 20-25 Cu. Ft. , and Above 25 Cu. Ft. ), by End User (Residential and Commercial), by Distribution Channel (Multi Branded Stores, Supermarkets/ Hypermarkets, Exclusive Stores, Online and Other Distribution Channels), and by Geography (North America, the USA, Canada, and the Rest of North America). The Report Offers Market Size and Forecasts for the Household Side by Side Refrigerator Market in Value (USD) for all the Above Segments.

We asked Indian consumers about "Refrigerator ownership by brand" and found that "LG" takes the top spot, while "Hitachi" is at the other end of the ranking.These results are based on a representative online survey conducted in 2024 among 3,484 consumers in India. Looking to gain valuable insights about refrigerator owners across the globe? Check out our

In 2024, the Indian refrigerator and freezer market decreased by -1.3% to $4.1B, falling for the second year in a row after three years of growth. In general, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the market value increased by 9.5% against the previous year. Refrigerator and freezer consumption peaked at $4.5B in 2012; however, from 2013 to 2024, consumption failed to regain momentum.

Asia Pacific Household Side by Side Refrigerator Market Report is segmented on the basis of by type (under 15 cu.ft., 15-20 cu.ft., 20-25 cu.ft., and above 25 cu.ft.), by distribution channel (hypermarkets/supermarkets, specialty stores, online, and offline), by country (China, India, Japan, South Korea, Australia, and Rest of Asia-Pacific). The market size and forecasts are provided in terms of value (USD) for all the above segments.

Smart Refrigerator Market Share & Technology Market is Segmented by Types (French Doors, Side-By-Side Doors, Triple Doors, Double Doors, and Single Doors), by End-User (residential and Commercial), and by Geography (North America, South America, Asia Pacific, Europe, and the Middle East and Africa). The Market Size and Forecasts for the Smart Refrigerator Market are Provided in Terms of Value (USD) for all the Above Segments.

In 2017, the amount of compression-type built-in refrigerators imported into India amounted to X units, moving up by X% against the previous year. In general, compression-type built-in refrigerators imports continue to indicate a remarkable expansion. The growth pace was the most rapid in 2017, when it surged by X% from the previous year.

The minibar refrigerator industry is likely to undergo a notable growth, driven by the expanding trend of hospitality sector, progressive use of energy-efficient appliances, and evolving consumer choices. The market is anticipated to increase from USD 374 million in 2025 to USD 538 million by 2035, with a compound annual growth rate (CAGR) of around 3.7% during the forecast period.

Metric	Value
Industry Size (2025E)	USD 374 million
Industry Value (2035F)	USD 538 million
CAGR (2025 to 2035)	3.7%

Country-Wise Outlook

Country	CAGR (2025 to 2035)
United States	3.2%

Country	CAGR (2025 to 2035)
China	5.0%

Country	CAGR (2025 to 2035)
Germany	3.0%

Country	CAGR (2025 to 2035)
Japan	3.5%

Country	CAGR (2025 to 2035)
India	4.5%

Country	CAGR (2025 to 2035)
Australia	3.3%

Competition Outlook

Company Name	Estimated Market Share (%), 2024
Dometic	18-24%
Indel B SpA	14-20%
Minibar Systems	10-16%
ISM Makine Elektrik Sanayi	7-12%
Felix Starch (Summit Appliance)	5-10%
HISENSE	4-8%
TEFCOLD Group	3-7%
OMNITEC SYSTEMS S.L.	3-6%
Other Companies (combined)	30-40%

This statistic represents the penetration rate of refrigerator market in India from 2005 to 2016 with an estimate for 2026. The penetration rate of refrigerator market across the country is estimated to increase to 47.5 percent in 2026, up from about 27.3 percent in 2016.

In financial year 2020, the offline market for refrigerators in India reached 220 billion Indian rupees. The more popular type of fridge was direct cool with more than 130 billion Indian rupees at 61 percent of the market. The dominant players of this market were LG and Samsung, followed by Whirlpool, Godrej, and Haier.

The mini refrigerator market is estimated to be valued at US$ 1.47 billion in 2023 and is expected to reach US$ 3 billion by 2033. The adoption of mini refrigerator is likely to advance at a CAGR of 7.4% during the forecast period.

Attribute	Details
Estimated Market Size 2023	US$ 1.47 billion
Projected Market Size 2033	US$ 3 billion
CAGR through 2023 to 2033	7.4%

Report Scope

Attribute	Details
Market Value in 2023	US$ 1.47 billion
Market Value in 2033	US$ 3 billion
Growth Rate	CAGR of 7.4% from 2023 to 2033
Base Year for Estimation	2022
Historical Data	2018 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in US$ billion and CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Product Price Range Capacity End-User Sales Channel Region
Regions Covered	North America Latin America Western Europe Eastern Europe South Asia and Pacific East Asia Middle East & Africa
Key Countries Profiled	United States Canada Brazil Mexico Germany United Kingdom France Spain Italy Poland Russia Czech Republic Romania India Bangladesh Australia New Zealand China Japan South Korea GCC Countries South Africa Israel
Key Companies Profiled	The Whirlpool Corporation Samsung Electronics Videocon Industries Godrej Appliances LG Electronics Haier Group Corporation Electrolux AB Panasonic Corporation Sieens AG AB Company Highsense Infotech Zhongke Meiling Cryogenics Co. Ltd Danby Appliances Inc. Whynter LLC Engel Koolatron Corporation Dometic Group AB EdgeStar Appliances Company Midea Group Uber Appliance Company
Customization& Pricing	Available upon Request

The Indian refrigerator compressor market rose rapidly to $1.7B in 2024, growing by 7.8% against the previous year. Over the period under review, consumption showed a strong increase. Over the period under review, the market reached the peak level at $1.7B in 2021; afterwards, it flattened through to 2024.

In 2017, approx. X units of household-type refrigerators were imported into India; moving up by X% against the previous year. Overall, household-type refrigerators imports continue to indicate a remarkable growth. The most prominent rate of growth was recorded in 2017, when it surged by X% against the previous year.

The Indian refrigerator or freezer market skyrocketed to $17M in 2024, jumping by 22% against the previous year. Overall, consumption, however, recorded a mild decline. Over the period under review, the market reached the maximum level at $22M in 2015; however, from 2016 to 2024, consumption remained at a lower figure.

The Indian Home Appliance Market is Segmented by Major Appliances (Refrigerators, Freezers, Dishwashing Machines, Washing Machines, Cookers, and Ovens), Small Appliances (Vacuum Cleaners, Small Kitchen Appliances, Hair Clippers, Irons, Toasters, Grills and Roasters, and Hair Dryers), and Distribution Channel (Multi-Branded Stores, Exclusive Stores, Online, and Other Distribution Channels).

The portable fridges market size is projected to be valued at US$ 1,813.6 million in 2023 and is expected to rise to US$ 3,385.9 million by 2033. The sales of portable fridges are expected to grow at a significant CAGR of 6.4% during the forecast period.

Attributes	Details
Portable Fridges Market CAGR	6.4%
Portable Fridges Market Valuation (2023)	US$ 1,813.6 million
Portable Fridges Market Valuation (2033)	US$ 3,385.9 million

How The Market Progressed till June 2022?

Market Statistics	Details
H1,2021 (A)	6.4%
H1,2022 Projected (P)	6,5%
H1,2022 Outlook (O)	7.2%
BPS Change: H1,2022 (O) - H1,2022 (P)	(+) 65 ↑
BPS Change: H1,2022 (O) - H1,2021 (A)	(+) 72 ↑

Scope of Report

Attribute	Details
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	US$ Billion for Value
Key Countries Covered	USA, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa
Key Segments Covered	Size Price Range Functionality End User Sales Channel, Region
Key Companies Profiled	Whirlpool Corporation ARB Corporation Danby Dometic Group AB EdgeStar (Living Direct Inc.) Engel Australia Pty Ltd. Haier Inc. Koolatron Whynter AB Electrolux Samsung Electronics Co. Ltd. Others
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing	Available upon Request

The global biomedical refrigerator and freezer market is anticipated to be worth US$ 6,053.8 million by 2034. According to the estimates, the market is projected to clock a 5.60% CAGR until 2034. In 2024, the biomedical refrigerator and freezer market size is valued at US$ 3,510.65 million.

Attributes	Details
Biomedical Refrigerator and Freezer Market Size, 2023	US$ 3,305.7 million
Biomedical Refrigerator and Freezer Market Size, 2024	US$ 3,510.65 million
Biomedical Refrigerator and Freezer Market Size, 2034	US$ 6,053.78 million
Value CAGR (2024 to 2034)	5.60%

Historical Performance of the Biomedical Refrigerator and Freezer Market (2019 to 2023) Vs. Forecast Outlook (2024 to 2034)

Attributes	Details
Biomedical Refrigerator and Freezer Market CAGR (2019 to 2023)	4.60%

Category-wise Insights

Segment	Plasma Freezers (Product)
Value Share (2024)	29%

Segment	Pharmacies (End User)
Value Share (2024)	28.60%

Country-wise Insights

Countries	Value CAGR (2024 to 2034)
India	7.60%
Germany	7.00%
China	7.80%
Japan	4.60%
Australia	2.90%