NEW YORK, October 10, 2018 /PRNewswire/ --
MarketResearch.biz announces publication of its most recently generated research report titled, "Global Portable Fridges Market By Type (Compressor Portable Fridges, Absorption Portable Fridges, Thermoelectric Portable Fridges), By Application(Automotive, Ship, Office, Home) And Region - Global Forecast To 2026", which offers a holistic view of the global portable fridges market through systematic segmentation that covers every aspect of the target market. According to report global portable fridges market was valued at US$ 2,792.8 Million in 2016 and is projected to reach US$ 3,480.7 Million in 2026 at a CAGR of 3.8% from 2017 to 2026.
Portable fridges are ideal for carrying in recreational vehicles (RVs), on cruise liners, leisure yachts, recreational fishing boats, commercial transport vehicles and premium passenger vehicles, and for medical applications such as transporting blood, donor organs, and vaccines etc.
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Global Portable Fridges Market: Market Dynamics
According to the report, rising demand for convenient and compact refrigerators to carry food & beverages, medical supplies, pharmaceuticals, and other products that are required to be kept constantly cool or chilled, coupled with increasing use of portable fridges in the healthcare industry - due to ease of storing and transporting medicines - are some other key factors driving growth of the global portable fridges market. Design and color of portable fridges have become important factors that influence purchasing decision of customers. Customers currently purchase products that not only offer more functionality, but also focus on aesthetic appeal that suits their individual tastes. Moreover, new products that offer additional features such as WI-Fi enabled portable fridges with inner cabinet LED lighting, coupled with inclusion of a rugged and durable exterior capable of withstanding extreme weather conditions are major factors expected to drive growth of the global portable fridges market over the forecast period.
However, high cost of portable fridges, limited product lifespan, and high plastic content are some major factors restraining growth of the global portable fridges market.
A major and growing trend, especially in developed countries, is increasing number of individuals, families, and groups opting for leisure, recreational, and adventure-related activities such as camping, hunting, boating, exploring, recreational vehicle adventures, fishing, traveling, or other outdoor activities.
This trend is expected to create wider scope for potential opportunities for key players in the market in future. Manufacturers can capitalize on these opportunities by developing battery powered portable fridges that are more power efficient and reduce compressors noise and vibrations.
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Global Portable Fridges Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global portable fridges market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global portable fridges market is expected to expand at a moderate CAGR of 3.8% during the forecast period.
Global Portable Fridges Market: Segmental Snapshot
The market report has been segmented on the basis of type, application, and region. The type segments include compression portable fridges, absorption portable fridges, and thermoelectric portable fridges. Application segments include automotive, ship, office, home, and others. The regions and countries covered in the analysis are North America, Europe, China, Japan, Southeast Asia, and India.
According to portable fridges market infographics published on MarketResearch.biz, market projected to register a CAGR of 3.8% from 2017 to 2026.
By type: Compressor portable fridge segment is estimated to register a CAGR of over 3.5%, thereby accounting for highest revenue share among the type segments.
By application: Automotive portable fridge segment is estimated to account for highest revenue share among the application segments, registering a CAGR of over 4% over the forecast period.
By region: The market in North America accounted for highest revenue share in the global portable fridge market in 2016, and is expected to record highest CAGR of over 4.2% between 2017 and 2026.
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Global Portable Fridges Market: Competitive Analysis
The research report on the global portable fridges market includes detailed competitive analysis on major companies such as Arb Corporation Ltd., Dometic Group, Sawafuji Electric Co., Ltd., Living Direct, Inc., Whynter LLC, Newell Brands, Haier Inc., Indel B. s.p.a., Evakool, DP Refrigeration Ltd., Fridgefreeze Inc., and Gourmia.
The Global Portable Fridges Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017-2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global portable fridges market for 2017-2026.
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