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UK refrigeration appliances market witnessing encouraging signs of recovery

Press Release   •   Jul 17, 2012 15:56 BST

The UK refrigeration appliances market witnessed encouraging signs of recovery in 2011, with refrigeration appliances seeing its first annual volume growth for some time.

Sales rose at a compound annual growth rate (CAGR) of 1%, in contrast to a decline of 20% since 2006. This 1% volume and 6% current value growth from 2010 meant market value reached £918 million and units hit 3.1 million in 2011.

This return to growth was largely encouraged by the use of price promotions and by environmental and energy concerns. Rising energy bills and concerns over the environment thus encouraged many to opt for new refrigeration appliances.

Freestanding fridge freezers were the market segment that saw the strongest volume growth in 2011 over the previous year, with sales rising by 3%. Fridge freezers accounted for 49% of volume sales in 2011 and were the focus on most major new product development and price promotions within refrigeration appliances.

Indesit and Electrolux have been the leading players in the UK refrigeration appliances market since 2006 and accounted for 20% and 18% volume share respectively in 2011. Both companies benefit from strong distribution and branding, with Indesit offering the Hotpoint and Indesit brands and Electrolux benefiting from the strength of its eponymous brand.

The UK refrigeration appliances market is forecast to experience a 3% volume and constant value CAGR through to 2016. Fridge freezers are expected to continue to see the strongest growth, with a volume CAGR of 4%. This product area will dominate sales, accounting for 57% of overall volume in refrigeration appliances in through to 2016.

For more information on the UK refrigeration appliances market, see the latest research: UK Refrigeration Appliances Market Report

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