Dublin, June 27, 2025 (GLOBE NEWSWIRE) -- The "North America Refrigerator Market, By Country, Competition, Forecast and Opportunities, 2020-2030F" report has been added to ResearchAndMarkets.com's offering.
The North America Refrigerator Market was valued at USD 26.62 Billion in 2024, and is expected to reach USD 34.03 Billion by 2030, rising at a CAGR of 4.18%
Market growth is fueled by increasing consumer demand for energy-efficient and technologically advanced refrigeration solutions. Heightened awareness of energy conservation, reinforced by government regulations promoting eco-friendly appliances, is prompting innovation in smart features like inverter compressors, frost-free technology, and connectivity options. Urbanization and modern lifestyles are driving preference for high-capacity refrigerators tailored for diverse storage needs.
Additionally, the growing residential construction sector, along with rising disposable incomes, supports higher spending on household appliances. Improved cooling technology and enhanced food preservation capabilities further influence adoption, making refrigerators a crucial component in North American households.
Key Market Drivers
Increasing Homeownership Across the Region
Rising homeownership is a major contributor to refrigerator demand in North America. As of Q2 2024, 65.6% of Americans own homes, reflecting a strong base of consumers investing in household appliances. New homeowners typically seek modern, energy-efficient, and spacious refrigerators, especially when furnishing newly constructed homes or remodeling existing kitchens.
Features such as smart connectivity, customizable compartments, and aesthetic designs align with evolving lifestyle needs and are increasingly preferred. Urban and suburban development contributes to more household formations, while improved financing options and higher disposable incomes empower consumers to invest in premium models. This expanding base of homeowners ensures consistent market demand and encourages manufacturers to offer innovative, tailored refrigeration solutions.
Key Market Challenges
Stringent Government Regulation
Regulatory compliance is a significant hurdle in the North America refrigerator market. Agencies like the U.S. Department of Energy (DOE) and the Environmental Protection Agency (EPA) enforce stringent standards on energy use and environmental impact. To comply, manufacturers must adopt eco-friendly refrigerants and enhance appliance efficiency - often requiring substantial R&D investments and reengineering of production lines.
For example, the phasedown of hydrofluorocarbons (HFCs) under the AIM Act compels the adoption of alternative refrigerants, leading to increased costs and supply chain modifications. These regulatory demands can burden smaller players and influence overall product pricing, making regulatory alignment a complex and costly challenge for industry participants.
Key Market Trends
Rising Popularity of Smart Refrigerator
Smart refrigerators are gaining significant traction across North America, driven by consumer interest in connected living and advanced appliance functionality. Equipped with Wi-Fi, internal cameras, voice assistant compatibility, and touchscreen interfaces, these models enhance kitchen convenience. Users can track food inventory, receive maintenance alerts, adjust temperatures remotely, and integrate with broader smart home ecosystems.
This trend is especially prevalent among tech-savvy millennials and Gen Z homeowners. With the continued expansion of the IoT landscape, demand for smart appliances is expected to rise, pushing manufacturers to introduce AI-enabled, feature-rich refrigerators that align with digital lifestyles and connected home aspirations.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 132 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $26.62 Billion |
| Forecasted Market Value (USD) by 2030 | $34.03 Billion |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | North America |
Report Scope:
Key Market Players
- Midea Group Co. Ltd
- Panasonic Corporation
- Samsung Electronics Co., Ltd
- Hitachi Ltd
- Mitsubishi Electric Corporation
- LG Electronics Inc.
- Robert Bosch GmbH
- Whirlpool Corporation
- Godrej & Boyce Manufacturing Company Limited
- Liebherr-Hausgerate GmbH
North America Refrigerator Market, By Type:
- Top Freezer Refrigerator
- Bottom Freezer Refrigerator
- Side by Side Refrigerator
- French Door Refrigerator
North America Refrigerator Market, By Application:
- Household
- Commercial
North America Refrigerator Market, By Distribution Channel:
- Multi-Branded Stores
- Supermarkets/Hypermarkets
- Online
- Others
North America Refrigerator Market, By Country:
- United States
- Canada
- Mexico
For more information about this report visit https://www.researchandmarkets.com/r/nok5zs
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