Freezers Market: IoT Enabled Consumer Electronics a Fruitful Trend

The market for freezers has been expanding leaps and bounds in the past couple of decades on the back of the prosperity of the food and beverage industry and mushrooming of restaurant and supermarkets across the world. Freezers, which primarily are devices that enable storage of products below the freezing point of water, also find extensive applications in commercial, residential, and industrial purposes.

According to this business and commerce publication, the demand in the global freezers market will increment at a CAGR of 5.0% during the forecast period of 2017 to 2025. In terms of revenue, the analysts of the report have estimated that the global freezers market will be worth US$18,300.6 mn by the end of 2025, substantially more than it’s evaluated worth of US$12,350.8 mn in 2017.

Besides gaining traction from the food and beverage industry, the freezers market is expected to gain new opportunities in the near future due to the advent of energy-efficient freezers. A number of governments are emphasizing on electronic products that help in reducing energy consumption and vendors of this market are obliging with innovative products.

Request Sample to Know Quantitative Market Analysis, Current and Future Trends

Chest Freezers Most Prominent Product-type Segment

The freezers market has been segmented on the basis of product type, application, capacity and door type. On the basis of product type, the market has segmented into chest freezers, upright freezers, and others. In 2016, the segment of chest freezers held the largest market share of approximately 37% of the total freezer market and is also expected to continue its dominance throughout the forecast period of 2017 to 2025.

Get TOC of This Report @

https://www.transparencymarketresearch.com/report-toc/40385

Revenue-wise, Asia Pacific to Emerge as Most Lucrative Region

Asia pacific region, which is estimated to provide for a demand worth of US$6,456.7 mn by 2025, is the major adopter of freezers, specifically by the commercial and industrial sectors. Furthermore, the Middle East & Africa as well as South America are rated as emerging markets, primed to create new opportunities for the global freezer market during the forecast period.

Key Players

Some of the key players in the global freezers market are: Daihan Scientific, ThermoFisher Scientific, Haier Group Corporation, AB Electrolux, Hitachi Ltd., LG Electronics, Liebherr Group, Siemens Home Appliances, Beverage-Air Corporation, Brandt Electric, Hengel Industries, Whirlpool Corporation and Panasonic Corporation among others.