Portable Mini Fridge Market to Grow During the Forecast Period
Increasing
demand in commercial sector, rising awareness on energy efficient products and
increasing outdoor recreation activities are driving the market growth of Portable
Mini Fridge market in the forecasted period.
According to
TechSci Research report, “Portable Mini Fridge Market – Global Industry Size,
Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”
The multi-branded stores
distribution channel in the global portable mini fridge market is rising at a
robust growth owing to the availability of various brand options. In addition, consumers’
feasibility to compare prices among various brands is driving the demand for
portable mini-fridges in different countries.
The market for portable mini
fridge is expanding with theexpansion of t travel and tourism sector,
along with rising interest in sports and adventure activities. Over the
past few years, the market for portable mini-fridges has seen a significant
growth in the commercial vehicle segment.
Compact compressors,
heat-exchanging pipes coiling outside the fridge, expansion valves, and
refrigerants are among the few components of mini refrigerators.. To keep the goods
fresh for longer, they are mounted in recreational vehicles (RVs), mobile
homes, and tiny residences. They are also used to store pharmaceuticals and
cosmetics. As a result, portable small fridges can be found in medical
transport units, passenger, business
vehicles, leisure yachts, and vanity vans.
One of the main factors
propelling the market's expansion is the rising demand for cold storage systems
in luxury vehicles around the world. Additionally, mobile homes are becoming
more popular among consumers as an inexpensive choice for frequent travellers
and first-time homeowners. Portable small fridges are used for on-the-go
cooling that uses little energy and keeps food products fresh. In keeping with
this, the market is also expanding as a result of the rising demand for
high-capacity mini-fridges for the storage of pharmaceuticals that require
special storage conditions due to their sensitivity to temperature. The
introduction of variants with adjustable automatic battery protection systems
to stop vehicle battery rundown are promoting market expansion. The market is
expected to grow as a result of a number of other factors, such as consumers'
growing preference for outdoor recreational activities like picnics, camping,
hiking, and adventurous road trips. These factors, along with the widespread
use of mini fridges in high-end hotels to enhance guest experiences, are also
anticipated to have a positive impact on the market.
The North America region dominated the global
portable mini-fridge market owing to multiple benefits such as rising camping
activities, trekking, and rise in demand of recreational vehicles in different
countries. For instance, , approximately more than 1 million of America’s
population live in RV’s and the number of RVs in United States has grown from
7.9 million households in 2005 to over 9 million in 2021. Thus, this is one of
the factors propelling the rise in demand for portable mini fridge in the United
States Market.
The demand of portable mini fridge is witnessing a
surge in the commercial sector owing to the growth of tourism sector. as ease
in lockdown guidelines is attracting foreign tourist to kick start their
tourism sector. Thus, to provide convenient stays, many hotels have installed
portable mini fridges in hotel rooms providing consumers space to store their
beverages for longer shelf life.
Browse over xx market data
Figures spread through xx Pages and an in-depth TOC on the "Global Portable Mini Fridge Market."
The portable mini fridge
market based on capacity is segmented into Less Than 1 cu. ft.,1-1.9 cu.
ft.,2-2.9 cu. ft., 3-3.9 cu. ft., 4-5 cu. ft. The 4-5 cu. Ft is dominating the
market as they are mostly used in commercial sectors. They are also used in
hospitals for strong drugs, medicines, vaccines for efficient cooling and
longer product life.
Key market players in the portable
mini fridge market include:
- Midea Group
- Haier Inc.
- Whirlpool
Corporation
- Godrej Group
- Electrolux AB
- Living Direct,
Inc.
- ARB USA
- Danby Products
Limited
- LG Electronics
- Whynter LLC
Many companies have introduced technologically
sophisticated items to draw customers to gain a sizable market share in the
portable mini-fridge industry. For instance, mini fridges that can fit in cars
for travel. Such
as, LG Electronics launched a mini fridge equipped with separate freezer
compartment and with a capacity of 1.58 cu. ft. for feasible use in bedroom or
for travelling purposes.
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"The increasing
popularity of compact household items, rising recreational activities,
increasing demand of recreational vehicles for the families living in mobile
homes and the boosting hospitality sector in different countries will influence
the demand of global portable mini fridge market.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Portable Mini Fridge Market
By Capacity (Less Than 1 cu. ft.,1-1.9 cu. ft.,2-2.9 cu. ft., 3-3.9 cu. ft.,
4-5 cu. ft.), By Door Type (Single Door, Double Door, Reversible Door) By End
User (Residential, Commercial) By Sales Channel (Multi-Branded Stores,
Supermarkets/Hypermarkets, Online and Others (Institutional Sales, Exclusive
Stores)), By Region, Competition, Forecast & Opportunities, 2018-2028F” has evaluated the future growth potential of portable
mini fridge market
and provides statistics and
information on market structure, size, share, and future growth. The report is
intended to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges and opportunities
present in portable mini fridge globally.
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