Mobile Refrigerators Demand to Grow 8.3% Annually By 2031 Driven by Increasing Need of E-commerce Delivery: PMR
NEW YORK, Aug. 11, 2021 /PRNewswire/ -- Global sales of mobile refrigerators are expected to top US$ 2.9 Bn by 2031. According to the report by Persistence Market Research, the market is estimated to register a healthy CAGR of around 8.3% over the forecast period of 2021-2031.
Technological advancements have led to a number of innovations, and the introduction of Bluetooth features in portable refrigerators is one of them. Portable refrigerators are characterized by advanced features such as voice recognition, touchscreen, as well as Bluetooth connectivity, offering greater convenience to users, which is driving market growth.
Manufacturers have developed their own apps that are available on Apple and Android app stores. Portable fridges can easily get connected to personal devices such as smartphones and tablets, which allows users to set the temperature of the camping fridge and freezer directly from a smartphone, and monitor the fridge temperature, voltage, and power use over time.
Manufacturers are even developing mobile refrigerators with unique designs and additional features. For instance, Kickass Products Pty Ltd has introduced a mobile portable refrigerator with unique design & additional features such as dual climate zones, integrated 3 stage battery protection, digital thermostats, and a dedicated app to control and monitor the fridges.
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Key Takeaways from Market Study
- Increasing demand for car-equipped refrigerators from end users is expected to drive the market over the forecast period.
- Built-in refrigerators have a substantial market share, as they allow better inside visibility than typical free-standing refrigerators. They are available in a variety of widths, allowing users to make the most of the refrigerator space while also personalising the kitchen.
- In terms of application, mobile refrigerators are highly preferred in the commercial sector as they are widely used in RVs, caravans, motorhomes, campervans, and vanity vans.
- The online retail sales channel is expected to be the fastest-growing segment from 2021 to 2031. Factors such as ease of shopping, convenience, and easy product accessibility, irrespective of geographic boundary lines, help promote the scope for these channels.
- Thermoelectric technology is experiencing the largest growth rate since it is more condensed, requires less maintenance, has lower levels of vibration and noise, and allows for more precise temperature control.
- In terms of price range, premium refrigerators are expected to witness noteworthy growth as more consumers are looking for premium quality and branded products.
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"Multifunctional products are predicted to increase in popularity as the number of Internet users continues to rise across the world," says an analyst at Persistence Market Research.
Key Market Players
The report underlines ground-breaking insights into the competitive scenario of the mobile refrigerator market, along with highlights of differential strategies used by manufacturers.
Some of the key players identified across the value chain include Indel B S.p.a, Dometic Group AB, WHYNTER LLC, Guangzhou Boju Technology Co., Limited, Alpicool Inc., AB Electrolux, Siemens AG, Evakool, Engel Australia Pty Ltd, Kickass Products Pty Ltd, ARB, Tropicool Car Gadgets Pvt. Ltd, Triton Mechanical, ICECO, and Aspenora.
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Know More about Report Inclusions
Persistence Market Research published a new market report on the mobile refrigerator market, covering global industry analysis of 2016-2020 and forecasts for 2021 to 2031. This research report provides compelling insights on the basis of product type, build, application, technology, price range, sales channel, capacity, and region.
The report also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the global market. It also addresses the restraints that are projected to hinder market growth, along with the latest trends and potential opportunities in this space.
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About Persistence Market Research:
Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.
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SOURCE Persistence Market Research Pvt. Ltd.
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