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Global Inverter Technology Refrigerators Market 2016-2020

Global Inverter Technology Refrigerators Market 2016-2020

About Inverter Technology

Inverter technology was developed in Japan and is being used in many household appliances such as air conditioners and refrigerators. Inverter compressors are mainly used in refrigerators to:

  • Vary the speed of the motor so as to control the cooling capacity as per requirement
  • Save more electricity (around 30%-50%) than conventional refrigerators available in the market
Technavio’s analysts forecast the global inverter technology refrigerators market to grow at a CAGR of 11.44% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global inverter technology refrigerators market for 2016-2020. To calculate the market size, the report considers the revenue generated from the retail outlets.

The market is divided into the following segments based on geography:
  • Americas
  • APAC
  • Europe
  • MEA
Technavio's report, Global Inverter Technology Refrigerators Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Hitachi
  • LG Electronics
  • Panasonic
  • Samsung Electronics
Other prominent vendors
  • Arçelik
  • Godrej
  • Haier
  • Hisense
  • Midea
  • Mitsubishi Electric
  • Robert Bosch
  • Toshiba
  • Whirlpool
Market driver
  • Energy savings with electronic variable speed drive motor
  • For a full, detailed list, view our report
Market challenge
  • Small market for inverter technology refrigerators in Europe and the US
  • For a full, detailed list, view our report
Market trend
  • Value added features to justify high cost of inverter refrigerators
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Inverter Technology Refrigerators Market 2016-2020

Technavio recognizes the following companies as the key players in the global inverter technology refrigerators market: Hitachi, LG Electronics, Panasonic, and Samsung Electronics.

Other Prominent Vendors in the market are: Arçelik, Godrej, Haier, Hisense, Midea, Mitsubishi Electric, Robert Bosch, Toshiba, and Whirlpool.

Commenting on the report, an analyst from Technavio’s team said: “one of the key trends for market growth will be inverter refrigerators showcasing green trend. Household appliances account for around 35% of the total power consumed in a household. This fact is leading many consumers to purchase new, energy-efficient refrigerators, and other major appliances. Moreover, as refrigerators mostly run 24 hours in a day and almost throughout the year, they consume the highest amount of electricity. Inverter technology has been able to reduce this high energy consumption by avoiding sudden inrush of current, which is typical of convention on-off mechanism refrigerators. Manufacturers are also focusing on eco-friendly refrigerants. The new refrigerants used such as isobutane lower the impact on global warming and has nearly zero potential in causing ozone depletion. Manufacturers are also showcasing green trend through choices of materials used in the refrigerator such as toughened glass over plastic shelves.”

According to the report, one of the key drivers for market growth will be innovative inverter technology creating opportunity for upgrade purchase. Noise-free, energy efficiency and superior performance along with style, sleeker design, and additional range of features such as two door refrigerator with separate frost-free chiller compartment, and sliding shelves, support the market’s growth by increasing upgrade purchases. As refrigerators are an essential and commoditized appliance (globally, an average of 85% households have at least one refrigerator), technology advancement and innovative features and designs, motivate consumers to upgrade their older models with newer ones.

Further, the report states that lack of standardization for interface and core frequency control algorithm will be a major challenge for the market. The adoption of inverter technology in household refrigerators has been low due to insufficient development and integration of components, poor reliability, high capital cost, and failure of demonstration installations that can produce the expected energy savings. Lack of standardization in core frequency control algorithm and lack of interface standardization of control are leading to poor compressor compatibility between different manufacturers. Also, components from different manufacturers cannot replace each other, and this has caused great difficulties for machine manufacturers.

Companies Mentioned

Hitachi, LG Electronics, Panasonic, Samsung Electronics, Arçelik, Godrej, Haier, Hisense, Midea, Mitsubishi Electric, Robert Bosch, Toshiba, Whirlpool.

  • Executive summary
  • Scope of the report
    • Market overview
    • Base year
    • By retail distribution channel (revenue)
    • By geography
    • Definitions/descriptions
    • Top-vendor offerings
      • Table Product offering
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
    • Mechanism of inverter technology refrigerator
      • Table Inverter fed variable frequency induction motor speed controlled drive
    • Comparison between conventional refrigerators and inverter technology refrigerators
    • Inverter technology applied to various types of compressors such as reciprocating, rotary, and linear
    • Top reasons for consumers to buy inverter technology refrigerators
      • Table Global electricity consumption on household cold appliances (refrigerators and freezers) by region in 2015 (%)
      • Table Global electricity usage (kwh) per annum by regular household appliances in 2015 (%)
  • Market landscape
    • Market overview
      • Market size and forecast
        • Table Global overall and inverter technology refrigerators market in 2015 ($billion)
        • Table Global overall and inverter technology refrigerators market in 2020 ($billion)
        • Table Global inverter technology refrigerator market 2015-2020 ($ billions)
        • Table Inverter refrigerator by type of doors, location of freezer, and capacity of refrigerator
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by retail distribution channels
    • Table Global inverter technology refrigerator market by retail distribution channels 2015
  • Geographical segmentation
    • Table Global inverter technology refrigerators market by geography 2015
    • Table CAGR by geographic segment 2016-2020
    • Inverter technology refrigerator market in APAC
      • Table Inverter technology refrigerators market in APAC 2015-2020 ($ billions)
      • Table Economic indicators of key leading countries in APAC for inverter technology refrigerators market in 2015:
    • Inverter technology refrigerator market in Europe
      • Table Inverter technology refrigerator market in Europe 2015-2020 ($ billions)
    • Inverter technology refrigerator market in Americas
      • Table Inverter technology refrigerator market in Americas 2015-2020 ($ billions)
    • Inverter technology refrigerator market in MEA
      • Table Inverter technology refrigerator market in MEA 2015-2020 ($ billions)
  • Market drivers
    • Superior performance achieved through variable motor drive (frequency conversion/control) and choice of suitable compressor
      • Table Comparison of different capacity control techniques at half load
      • Table Means of regulation and consumption of energy
      • Table Comparison of on/off mechanism with inverter mechanism in terms temperature
    • Attractiveness and sophistication of inverter refrigerators in terms of design
    • Innovative inverter technology creating opportunity for upgrade purchase
      • Table Product penetration 2015 (% of households)
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Lack of standardization for interface and core frequency control algorithm
    • High prices of inverter system owing to low mass production and heavy reliance on few brands
    • Low awareness of inverter technology and its benefits among consumers
    • Small market for inverter technology refrigerators in Europe and the US
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Value added features to justify high cost of inverter refrigerators
    • Inverter refrigerators showcasing green trend
  • Vendor landscape
    • Competitive landscape
    • Competitive assessment of key vendors
    • Hitachi
      • Table Hitachi: Business segmentation by revenue 2015
      • Table Hitachi: Geographical segmentation by revenue 2015
    • LG Electronics
      • Table LG Electronics: Business segmentation by revenue 2015
      • Table LG Electronics: Business segmentation by revenue 2014 and 2015 ($ billions)
      • Table LG Electronics: Geographical segmentation by revenue 2015
    • Panasonic
      • Table Panasonic: Business segmentation by revenue 2016
      • Table Panasonic: Business segmentation by revenue 2015 and 2016 ($ billions)
      • Table Panasonic: Geographical segmentation by revenue 2016
    • Samsung Electronics
      • Table Samsung Electronics: Business segmentation by revenue 2015
      • Table Samsung Electronics: Business segmentation by revenue 2014 and 2015 ($ billions)
      • Table Samsung Electronics: Geographical segmentation by revenue 2015
    • Other prominent vendors
  • Explore Technavio

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