About 83% of the households in Romania have a refrigerator, slightly fewer than in 2008, the last year of economic boom, when people used to buy lots of computer and electronics products because of relaxed consumer lending conditions.
The only computer, electronics and home appliances segment where penetration rate exceeds 90% in Romania is the cooker segment.
The leading refrigerator company is local manufacturer Arctic, with its two brands, Arctic and Beko. The manufacturer accounts for 38% of the market in volume, followed by Electrolux with 19%. The sales figures include refrigerators, freezers and fridge freezers.
As appetite for consumer loan-fueled home appliance purchases has returned, the market has increased. The growth is also because of the lower home appliance penetration rates in Romania, which leaves room for growth. Moreover, most of the large appliances were purchased about a decade ago so they are near the end of their lifespan and will need replacement.
“Volume sales of refrigeration appliances started to rise again after two years of consecutive decline and about 30% drop in market size during the financial crisis period. The increase in sales derived from replacement purchases boosted by the reinvigorated consumer credit market,” Euromonitor representatives say.
The upward trend should continue this year, with a 3% increase in sales volume and a 5% increase in sales value, at constant prices. All market segments, refrigerators, freezers and fridge freezers will see growth, according to Euromonitor.
“The most popular category, fridge freezers, is expected to have the highest volume growth over the forecast period, with 3%, and 5% growth in value at constant 2014 prices. Fridge freezers are one of the basic domestic appliances people need in their households, along with cookers, vacuum cleaners and irons.”
(English version by Loredana Fratila-Cristescu)