Malaysian Refrigerator Appliances Market Gains from New Launches

As per Triton's report, the Malaysia refrigeration appliances market gained $252.80 million in 2021. It is expected to advance with a CAGR of 1.89% in revenue by 2028.

A recent by Triton Market Research titled includes the Malaysia Refrigeration Appliances Market Analysis and Forecasts by Distribution Channel (Home and Garden Specialist Retailers, Electronics and Appliance Specialist, Department Stores, Hypermarkets, E-Commerce, Other Distribution Channels), and Category (Fridge Freezers, Fridges, Freezers).

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Refrigeration appliances refer to cooling systems that preserve food for a longer period. These systems are categorized into fridges and freezers, majorly used to prevent spoilage.

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Triton's report states that the Malaysia refrigeration appliances market will obtain revenue worth $279.99 million by 2028, growing at a CAGR of 1.89% in revenue and 1.61% in volume during the forecast period 2022-2028.

Several companies are developing new products that are expected to drive the refrigeration appliances market over the forecast period. For instance, Hisense Malaysia launched energy-saving refrigerators. Further, Samsung Malaysia Electronics launched Bottom Mount Freezer (BMF) with high-quality features, including robust cooling performance. Thus, these factors widen the Malaysia refrigeration appliances market scope.

On the other hand, it is anticipated that the absence of a technical staff will impede the growth of the refrigeration appliances market in Malaysia.

Distribution channel and category are the two divisions used to segment the refrigeration appliances market in Malaysia. It is divided into sections based on distribution channels, including department stores, hypermarkets, e-commerce, home and garden experts, electronics and appliance specialists, and others. There are three divisions in the category section: freezers, fridges, and fridge freezers.

Several consumers are opting for high-end appliances despite financial constraints caused by COVID-19. This growth across the country is anticipated to expand over the forecast period, leading to high consumer spending on refrigerators for more storage. Estimates indicate refrigerator freezers recorded a major share in 2021, witnessing high sales volume. Therefore, such developments are supporting the market's development in Malaysia.

Toshiba Sales & Services SDN BHD, Panasonic Malaysia SDN BHD, Samsung Malaysia Electronics SDN BHD, LG Electronics (M) SDN BHD, and Haier Electrical Appliances (M) SDN BHD are major companies in the Malaysia refrigeration appliances market.

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Question & Answer: Malaysia Refrigeration Appliances Market

Question 1: What factors widen the scope of the Malaysia refrigeration appliances market?
Answer: Several companies are developing new products that are expected to drive the refrigeration appliances market over the forecast period. For instance, Hisense Malaysia launched energy-saving refrigerators. Further, Samsung Malaysia Electronics launched Bottom Mount Freezer (BMF) with high-quality features, including robust cooling performance. Thus, these factors widen the Malaysia refrigeration appliances market scope.

Question 2: What factors restrict the refrigeration appliances market's progression across Malaysia?
Answer: The lack of a technical workforce is expected to restrict the refrigeration appliances market's progression across Malaysia.

Question 3: What is the refrigeration appliances market outlook in Malaysia?
Answer: Several consumers are opting for high-end appliances despite financial constraints caused by COVID-19. This growth across the country is anticipated to expand over the forecast period, leading to high consumer spending on refrigerators for more storage. Estimates indicate refrigerator freezers recorded a major share in 2021, witnessing high sales volume. Therefore, such developments are supporting the market's development in Malaysia.

Question 4: Which are the major companies in the Malaysia refrigeration appliances market?
Answer: Toshiba Sales & Services SDN BHD, Panasonic Malaysia SDN BHD, Samsung Malaysia Electronics SDN BHD, LG Electronics (M) SDN BHD, and Haier Electrical Appliances (M) SDN BHD are major companies in the Malaysia refrigeration appliances market.

Related Report:

Global Portable Air Purifier Market-
https://www.tritonmarketresearch.com/reports/portable-air-purifier-market

Triton's report on the global portable air purifier market is expected to advance at a 9.12% CAGR during the forecast period 2019-2028.

A portable air purifier helps maintain appropriate indoor air quality by eliminating pollutants. These pollutants include soot & dust and fumes & smoke.

The market's growth is supported by factors such as health disorders caused due to air pollution, along with government support measures. Besides, the high demand for air filtration in the healthcare industry is anticipated to create opportunities for the studied market.

However, the high cost of these systems may restrict their adoption in various industries, thereby hampering the overall market's development worldwide.

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This release was published on openPR.