Refrigeration Appliances in Canada

PROSPECTS

Slow housing market set to continue to hamper growth

Refrigeration appliances continued to decline in retail volume terms in 2019. The US government’s import tariffs from July 2018 led to higher prices.

More consumers value the convenience of connected appliances

The availability of connected refrigeration appliances continues to increase, and alongside, the share of connected appliances within overall sales of fridge-freezers. Consumers are showing increasing interest in owning smart appliances, even if they have to pay premium prices.

Models of fridge-freezers with three doors or even more gain popularity

Multidoor fridge-freezers are becoming increasingly popular, with 3-door appliances seeing a rising share of sales. Multiple doors offer consumers flexibility in terms of storage options.

COMPETITIVE LANDSCAPE

No changes in the top 10, with Whirlpool maintaining its lead

The top 10 players in refrigeration appliances maintained the same positions in volume terms in 2019. Whirlpool Canada remained the leading company and even managed to increase its share, with both its Whirlpool and KitchenAid brands seeing volume increases.

Only three of the top five players offer connected refrigeration appliances

Of the top five players, only three currently have smart offerings. Whirlpool, Electrolux and Samsung all offer connected units.

The slow economy could affect producers with high costs

However, with rising prices and an uncertain economic future in Canada in the forecast period, consumers’ willingness to pay high prices for premium large appliances such as connected refrigeration appliances is in doubt. Producers with high unit costs, such as LG and Samsung, may bear the brunt of consumers saving for a rainy day.

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