A recent report published by Infinium Global Research on portable mini fridge market provides an in-depth analysis of segments and sub-segments in the global as well as regional portable mini fridge market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional portable mini fridge market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global portable mini fridge market. According to the report, the global portable mini fridge market is projected to grow at a CAGR of 5.0% over the forecast period of 2019-2025.
The major players in the portable mini fridge market are adopting strategies such as merger, acquisition, and new product launches to maximize their market share. Companies are investing in research and development to innovate new designs and new models with additional features.
The growing tourism and hospitality sector drive the growth of portable mini fridge market. Nowadays people often go for picnics and outings. A portable mini fridge is required in a picnic to maintain the freshness of food. The rising demand for cold storage in commercial vehicles boost the growth of portable mini fridge market. The portable mini fridge has low power consumption and it is lightweight that provides convenience. The increasing awareness about the advantages of a portable mini fridge propels the portable mini fridge market. In addition, these portable mini fridges are useful in small homes and for small families. Technological advancements encourage new efficient models that promote the growth of portable mini fridge market. The rising demand for adventure sports and camping fuel the growth of a portable mini fridge market. On the other hand, portable mini fridges have some disadvantages such as limited storage and cooling efficiency that hampers the growth of portable mini fridge market. Moreover, growing research and development stimulate innovations that create new opportunities for the growth of a portable mini fridge market.
On the basis of geography, the global portable mini fridge market is classified into North America, Asia-Pacific, Europe, and the Rest of the World. The Asia-Pacific region is expected to be dominant in the global portable mini fridge market. The increasing number of picnics, camping, and rising demand for adventure sports in the Asia-Pacific region contribute to the growth of the Asia-Pacific portable mini fridge market. Europe is anticipated to be the second largest region in the global portable mini fridge market. The rising adoption of smart and energy saving appliances propel the growth of Europe portable mini fridge market.
The report on global portable mini fridge market covers segments such as type, and application. On the basis of type, the sub-markets include less than 1 cu. ft., 1 - 1.9 cu. ft., 2 - 2.9 cu. ft., 3 - 3.9 cu. ft., and 4 - 5 cu. ft.. On the basis of application, the sub-markets include commercial use, and home use.
The report provides profiles of the companies in the market such as ARB, Danby, Dometic Group AB, Living Direct, Inc., Engel Australia Pty Ltd., Haier Group, Koolatron, Godrej Group, Whynter, LG Electronics Inc., and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of portable mini fridge market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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