Global Demand for Refrigerators: A Look at the Residential and Commercial Sectors

The global refrigerators market is projected to reach a valuation of USD 167.17 billion by 2033, growing at a 6.5% compound annual growth rate (CAGR) from USD 89.06 billion in 2023, according to the latest market research report.
The demand for refrigerators has surged across both residential and commercial sectors, fueled by technological advancements, rising living standards, urbanization, and the increasing preference for energy-efficient home appliances. As the global population grows, especially in emerging economies, refrigerators are becoming indispensable in homes, hotels, restaurants, and healthcare settings. This shift towards innovative, energy-saving, and smart refrigeration systems is expecte