New Study: Refrigeration Appliances in South Korea

Since 2014, the leading player, Samsung Electronics Co Ltd, started to introduce the top-tier brand, Chef Collection products, as the next-generation growth engine. In 2015, the company strengthened its portfolio of this premium range by adding 20 new products. These new products were available in the brands of Chef Collection, T9000, and Food Showcase, which all had favourable market responses. The main features of Samsung’s premium line of products include metal cooling, triple cooling with three evaporators, chef pantry to store meat and fish, and up to 1,000 litre capacity. The price range for these products was Won4-7 million per unit.

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Competitive Landscape

In 2015, Samsung Electronics Co Ltd retains its leading position with a 42% volume share of total refrigeration appliances. LG Electronics Inc also had a 42% volume share as the company managed to see slightly higher volume growth compared to Samsung. The two companies maintained a very small gap in terms of total volume sales in the review period due to strong competition.

Industry Prospects

Refrigeration appliances is expected to have a volume CAGR of 1% in the forecast period based on the new demand from the growing number of single households and replacement demand to upgrade to more premium refrigerators. One of the major motivations to upgrade home appliances is moving to a new house. The recent boom in housing construction and the increased number of moves will create higher demand for new refrigerators in the forecast period. Advanced features and larger capacity are the main attractions to reduce the replacement cycle of refrigeration appliances.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Refrigeration Appliances industry in South Korea with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Refrigeration Appliances industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.

The Refrigeration Appliances in South Korea market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
* Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

* What is the market size of Refrigeration Appliances in South Korea?

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