Global Portable
Mini Fridge market report offers the latest
industry trends, technological alteration and forecast data. A deep-dive view
of the industry based on its size, growth, development plans, and opportunities
is offered by this report. The forecast information, SWOT analysis, Portable
Mini Fridge barriers, and feasibility study are the vital aspects evaluated in
this report.
The scope of
the global Portable Mini Fridge Market was appreciated at US$ 918.6 million in
2018. The range is projected to touch US$ 1.3 billion by 2025, growing at a
CAGR of 5.2% for the completion of the prediction period.
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Some of the
major objectives of this report:
1. To provide
detailed analysis of the market structure along with forecast of the various
segments and sub-segments of the global Portable Mini Fridge Market.
2. To provide
insights about factors affecting the market growth. To analyze the Portable
Mini Fridge Market based on various factors- price analysis, supply chain
analysis, porter five force analysis etc.
3. To provide
historical and forecast revenue of the Portable Mini Fridge Market segments and
sub-segments with respect to four main geographies and their countries- North
America, Europe, Asia, and Rest of the World.
4. Country
level analysis of the market with respect to the current market size and future
prospective.
5. To provide
country level analysis of the market for segment by application, product type
and sub-segments.
6. To provide
strategic profiling of key players in the market, comprehensively analyzing
their core competencies, and drawing a competitive landscape for the market.
7. Track and
analyze competitive developments such as joint ventures, strategic alliances,
mergers and acquisitions, new product developments, and research and
developments in the global Portable Mini Fridge Market.
Drivers:
Growing
interest for out-of-doors entertaining actions between the millennials at the
global level such as an outcome of increasing alertness about better health is
likely to indorse the usage of portable mini fridges for keeping the freshness
of food & beverages. Furthermore, increasing demand for the compact and
portable fridge in private means of transportation and recreational vehicles
(RV) between the fans of adventure is likely to encourage the usage of a number
of potable mini fridges during the following a small number of years.
During the
previous a small number of years, partaking in out-of-doors fun events
comprising courageous trips by road, camp out, hiking and day out, between the
customers of diverse age crowds has boosted the demand for portable mini
fridges. These mini fridges ingest low energy, are light in weight and
compacted in dimensions. These are perfect for storage of food & beverages,
and medications also, for the open-air journeys. Aforesaid benefits are growing
the acceptance of portable mini fridges between the buyers.
In line with
the American Camper Report, published in 2017, 40.5 million people in the U.S.A
took part in camp out such as an open-air activity. People had an inclination
for cabins, RVs and tents, for their camp out, where these portable mini
fridges discover the significant use for maintaining freshness in a number of
food & beverages. Furthermore, growing reputation of moveable homes and
micro home because of ever-changing emphasis concerning suitability and luxury
for the duration of the adventure journeys comprising camp out is likely to
increase the possibility for the portable mini fridges.
These portable
mini fridges are likewise extensively utilized in the segment of hospitality
comprising suits and rooms in hotel, where they increase amenity for the
duration of staying in the hotel. During the previous a small number of years,
the segment of hospitality has developed by a substantial percentage.
Consistent with the information delivered by the International Hotel &
Restaurant Association (IH&RA), the business of hospitality adds US$ 950
billion each year to the international economy. This most important calculation
of the income within the economy is likely to upsurge the sum of hotel chains,
as a consequence indorsing the usage of portable mini fridge during the period
of forecast.
Regional
Lookout:
By Region the
global portable mini fridge industry can be classified as North America,
Europe, Asia Pacific, Central & South America, and Middle East &
Africa. Asia pacific region is projected to be the speedily developing market.
It is expected to develop by a CAGR of 6.0% during 2019 to 2025 due to the
increasing interest for trekking, camping and additional open-air activities of
entertainment between the young generations of this region. Furthermore,
flourishing business of hotel is likely to motivate the portable mini fridge
market within the region. Such as, Radisson Hotel Group released a deluxe 230
room hotel ‘Radisson Ningbo Beilun’ in Ningbo’s Beilun district, China in November
2018. In the same way, Hyatt Hotels Corporation released 348 rooms in ‘Hyatt
Regency Wangjing’ in Beijing, in June 2018.
North America
was the biggest provincial market for portable mini fridge. It was responsible
for the share of 30.7% of the global income, in 2018. Augmented contribution by
millennials in the activities of out-of-doors entertainment, together with
solid position of the hospitality segment comprising hotels, is estimated to
persist an important reason in motivating the portable mini fridges industry.
The state is one of the biggest market for travel & tourism in the world.
As stated by the information delivered by the International Trade
Administration (ITA), U.S. Department of Commerce, in 2017, overseas travelers
paid out over and above US$ 300 billion on hotel lodgings. The optimistic point
of view concerning the hotel business within the region is expected to
encourage the usefulness of portable mini fridge during the period of forecast.
Companies:
Some of the
important companies for portable mini fridge market are: Danby, Whirlpool
Corporation, ARB, Electrolux AB, Haier Inc., Midea Group., Whynter, Koolatron,
Engel, Edge Star, Dome tic.
Additional
notable companies are: XElectron, U-Line, Sears Holdings Company, MCA Corporation,
LG Electronics, Igloo, Felix Storch, Go Urmia, Avanti Products, Vinotemp
International, Uber Appliance, Panasonic, Indel B, Fridge Freeze, Kegco,
Coleman, and AGA Marvel.
Know
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