Freezers Market – Trends Forecast Till 2030

Market Snapshot

Market Overview

The global Freezers Market size is projected to reach a CAGR of 6.4% from 2023-2030.

A freezer is a big vessel similar to a refrigerator in which temperature is maintained at a lower freezing point so that stock food inside is stored for a long time. They are commonly used to store meals, vegetables, meats, fish, drugs, and research samples. Though present freezers and refrigerators are usually part of a single appliance, they maintain distinct functional differences. Refrigerators are most suitable for perishables such as meats, and dairy and cooked food. In the instance of cooling, the idea is to sluggish microbial act to a crawl so that it takes food much longer time to spoil. In the case of freezing, the idea is to break microbial exploitation entirely. Frozen bacteria are wholly inactive.

Increasing demand for frozen food products and an increasing number of restaurants and supermarkets will drive the growth of the freezer market. Growing awareness about energy-efficient electronic products is another factor boosting for growth of the market. Contrarily, rising consciousness about damaging hothouse gases produced from conservative refrigeration systems is expected to boost the growth of the market. With the changing nutritional traditions and fast-paced routine, drinking frozen and treated diets has increased the growth of the freezers market across the world. Refrigeration plays an important role in various food production processes. The fast-growing food industry and the rise in demand for frozen food products are contributing to the growth of the freezer market. Freezers have been used by several nourishment manufacturing companies, and food vendors, to stock processed and cold nutriment products to increase their projection lifespan.

On the other hand, the existence of a big number of local players providing cheaper refurbished equipment can hamper the growth of the market.

Due to the spread of COVID-19, all businesses are facing risks including shifts in customer touchpoints, supply chain disruptions, unavailability of critical resources, and gaps in business continuity protocols. Because of a shift from physical to digital purchasing, there is a surge in transaction volumes and a precipitous decline in demand. There are workforce productivity challenges due to employees working remotely, associated with connectivity and security.

Delvens Industry Expert's Standpoint

With busy lifestyles and a growing number of dual-income households, there is a higher demand for convenient and ready-to-eat frozen foods that can be stored in freezers. This led to an increase in the sales of freezers in the coming years, as consumers seek to preserve their food for longer periods. Recent developments in the freezer market are increasing and companies are investing more in developing their freezer technology to include features such as Wi-Fi connectivity, temperature control, and energy-saving modes, which are attractive to consumers looking to save money on their energy bills. All these factors continue to grow the freezers market in the next coming years.

Market Portfolio

Key Findings

• The power source segment is further divided into Battery-Powered, hardwired with battery backup, and Hardwired without battery backup. The hardwired with battery backup is expected to reach the highest revenue share over the forecast period. These types of power source freezers are designed to be energy-efficient and consume less power, which is beneficial to consumers looking to save money on their energy bills and is expected to drive demand for this segment.
   
• The freezer’s smoke detectors types include Photoelectric Smoke Detectors and Ionization Smoke Detectors. Freezers have built-in smoke detectors or alarms as a layer of safety and protection against fire hazards is expected to dominate all other segments in terms of revenue generation over the forecast period. Detecting smoke and safety features are the major factor driving demand for this segment.
   
• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The North American region is expected to dominate the smoke detector market globally as North America has the highest number of fire accidents and deaths due to fire incidents which subsequently increases the need for a smoke detector in the region.
   
• Due to the spread of COVID-19, all businesses are facing risks including shifts in customer touchpoints, supply chain disruptions, unavailability of critical resources, and gaps in business continuity protocols. Because of a shift from physical to digital purchasing, there is a surge in transaction volumes and a precipitous decline in demand. There are workforce productivity challenges due to employees working remotely, associated with connectivity and security.

Regional Analysis

North America to Dominate the Market

• The North American region is expected to dominate the smoke detector market globally as North America has the highest number of fire accidents and deaths due to fire incidents which subsequently increases the need for a smoke detector in the region.
   
• U.S. dominates the Global smoke detector market owing to factors such as increasing cases of fire accidents in the country, strong fire protection laws, and the strong presence of major players in the country. The U.K. dominates the smoke detector market, owing to high cases of death due to fire accidents and surging government focus on fire safety.

Competitive Landscape

• Daihan Scientific
• ThermoFisher Scientific
• Haier Group Corporation
• AB Electrolux
• Hitachi Ltd.
• LG Electronics
• Liebherr Group
• Siemens Home Appliances
• Beverage-Air Corporation
• Brandt Electric  

Recent Developments

• In April 2021, Siemens AG’s Smart Infrastructure segment expands its offering for the small to medium-sized buildings market by launching a new version of the fire protection system, Cerberus FIT.
   
• In March 2021, Johnson launched their first microprocessor-based conventional fire detector 700 series, which can monitor and react rapidly to building fire conditions precisely.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and most suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
   
• Gain authentic and granular data access for Freezers Market so as to understand the trends and the factors involved in changing market situations.
   
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
   
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

Report Scope