Mobile Refrigerator Market Segmented By Portable Refrigerators, Built-in Refrigerators Product Type with Compressor Technology, Absorption Technology, Thermoelectric Technology
Industry: Consumer Goods
Published Date: January-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 300
Report ID: PMRREP32623
The global mobile refrigerator market is projected to expand at ~8.4% CAGR and reach ~US$ 3,140.2 million by the end of 2033, up from its current market size of ~US$ 1,391.2 million.
| Attributes | Key Insights |
|---|---|
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Global Mobile Refrigerator Market Size (2022A) |
~US$ 1,391.2 million |
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Global Mobile Refrigerator Market Size (2023E) |
~US$ 1,494.5 million |
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Projected Sales of Mobile Refrigerator Market (2033F) |
~US$ 3,140.2 million |
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Value CAGR (2023 to 2033) |
~8.4% |
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Collective Value Share: Top 3 Countries (2022) |
~31% |
The idea behind mobile refrigeration is to offer refrigeration and freezing in a portable format. The benefits of using a mobile refrigerator include precise temperature control, reduced noise levels, and effective battery protection. Applications for mobile freezers in the chemical supply and manufacturing industries, wine and vintner storage, inventory overflow storage, the biomedical & pharmaceutical industries, hotels, restaurants, and caterers are just a few examples.
Long-distance transportation of perishable goods including meat, dairy products, and fruit became possible with the development of mobile refrigeration units in freight cars and trucks. One of the most recent industry innovations is the increase in manufacturing of portable refrigerators of various sizes and forms that can be transported both on foot and in cars by the major manufacturers. In addition, it is anticipated that increased camping activities will stimulate the market.
Sales of mobile refrigerators are expected to grow at a 5.6% CAGR between 2017 and 2022, with the United States, Canada, Germany, and the United Kingdom accounting for a sizeable portion of the global industry. East Asia is probably going to have the largest portable refrigerator market over the next ten years and the quickest rate of market expansion.
They are employed in the hospitality sector to keep food and drinks cold, and modern offices have started to adopt them as a space-saving solution. These products are in high demand for recreational vehicles, tiny homes, and mobile home designs. Demand for mobile refrigerators is probably driven by changing consumer preferences for affordable and energy-efficient refrigeration for outdoor activities. Growing travel and tourism could increase demand for mobile refrigerators.
Governments are also developing new regulations to reduce the energy usage of equipment. These regulations encourage the use of and production of electronic products that use less energy, helping to preserve the environment. This will increase demand for cold storage equipment that is energy-efficient.
Globally, millennials' rising interest in outdoor recreational activities has led to an increase in fitness consciousness, which is anticipated to encourage the usage of mobile freezers to preserve the freshness of food and beverages.
Furthermore, it is anticipated that rising interest in outdoor activities, such as picnics and camping, among consumers of various age groups, will fuel an increase in demand for compact, mini, and portable fridges in recreational and personal cars.
Due to the potential of e-commerce sites to provide a large selection of products with unique discounts and prices, consumers are increasingly using them to buy electronics items, including mobile refrigerators. E-commerce websites additionally assist in deliver the goods in accordance with the client's unique requirements, even if the item is not readily available in the market in the client's region. Leading e-commerce platforms like Alibaba and Amazon provide a wide selection of goods from around the globe. The channel for purchasing goods like mobile refrigerators is promoted by elements like simple product accessibility, convenience, and simplicity of buying regardless of geographic presence.
Metal and plastic are the primary materials used to create cooling machines. Aside from metal and plastic, cooling appliances also include a number of hazardous and toxic materials. In addition to ozone-depleting substances (ODSs) and potent greenhouse gases, this equipment uses CFCs or hydro chlorofluorocarbons (HCFCs). Several governments and environmental protection organisations have phased out these gases progressively. Furthermore, the use of plastic materials in these items, which are not biodegradable and have recently become a significant ecological concern, may have an impact on consumer awareness, which in turn may have an impact on consumer uptake.
Moreover, High repair and maintenance costs associated with high-end portable freezers are expected to stifle market expansion among consumers with less incomes. Furthermore, the limited availability of home appliance maintenance services deters the purchasing of portable freezers.
Portable freezers also require regular maintenance because they are frequently used in abrasive environments, such as while camping and in automobiles, where there is a risk of damage to the freezer. These considerations result in greater maintenance costs. Furthermore, increased competition in the electric appliance business to produce better products could create an entry barrier for new entrants.
How Big is the Opportunity in the U.S. Portable Fridges Market?
With approximately 25.2% of global sales of portable fridges in 2022, North America is anticipated to be the market with the highest volume. The market is growing as portable refrigerator usage increases in the commercial sector.
Additionally, the penetration of e-commerce platforms in the U.S. is aiding the market expansion for portable refrigerators. It is anticipated that the rising number of cabs, RVs, and truckers in the United States will foster a favourable atmosphere for the market's expansion. Because portable refrigerators may be used in RVs and trucks, manufacturers are increasing production and adding modern features like an additional cooling chamber. The U.S. market is anticipated to grow as a result.
Will China's Regional Brands Keep Their Market Dominance?
From 2017 to 2022, the market in China expanded by 10.6%. China has been utilising cutting-edge technology more and more in its fight against COVID-19.
Small appliances and white goods are highly sought-after in the Chinese market. In the market for electronic appliances, consumer brand awareness is rising, with a focus more on features and design than on price sensitivity. Demand for environmentally friendly and energy-efficient products is rising as consumers become increasingly concerned about the environment.
The JP60Pro portable fridge, freezer, and cooler by ICECO was introduced in 2021. It has removable wheels, a cutting board that can be linked to the fridge so that you may chop fruits and vegetables while camping, a bottle opener/fish measurement ruler, and a built-in water release. Customers who enjoy camping are expected to be drawn to refrigerators with such advanced features. As a result, China will still be a lucrative market in East Asia for mobile refrigerators.
Are Mobile Refrigerators Attracting the Attention of Indian Consumers?
India accounted for ~30% of South Asia's mobile refrigerator demand in 2022, and it is anticipated that it would continue to expand quickly. Major companies are reducing expenses and releasing new models with high-end features and innovative designs.
Due to the hot and humid weather, consumers have been more concerned about food rotting, which has increased the demand for effective refrigerators. Consumers choose refrigerators because they are convenient, require less human labour, and save time. Because of their increased purchasing power, greater living standards, and desire for comfort, consumers are replacing their old appliances with newer, smarter models, which will certainly boost the country's market value.
Which Type of Mobile Refrigerators are Most Popular in the Market?
The portable refrigerators category is anticipated to grow at a CAGR of nearly 5.7% throughout the forecast period. The hospitality and healthcare industries' growing use of these refrigerators is anticipated to drive the segment's expansion.
In addition to providing the essential chilling function, portable freezers use less power. The demand is being driven by the availability of modern refrigerators with semi-automatic operation, particularly at affordable and mid-range rates. Due to this, the automatic and semi-automatic category is anticipated to generate most profit throughout the projection period.
Which Sector Holds Lucrative Avenues for Mobile Refrigerator Manufacturers?
The commercial sector now uses mobile refrigerators the most, while the sector contributed major share of almost 74% in the global mobile refrigerator market.
The use of refrigerators has expanded in both the medical and hospitality sectors as a result of their rapid expansion. These have also grown in popularity as an alternative in contemporary offices and delivery vans due to their adaptability to fit almost anyplace and reduced power consumption than conventional refrigerators.
Which Sales Channel is Estimated to Gain Traction in the Forecast Period?
Online retailing is anticipated to lead with a highest CAGR of 12%, according to the market study. As a result of the COVID-19 epidemic, consumer preferences have changed, and they are moving from offline to online shopping, which is motivating players to increase their online market presence. The availability of a variety of mobile refrigerators, including WI-FI enabled portable refrigerators and the Electric iCooler, is one of the key factors boosting online sales channels.
The majority of the businesses covered in the report have prioritised new product launches and growing their manufacturing footprint in underdeveloped areas. Innovation, partnerships, strategic alliances, working with key actors, and bolstering local and international distribution networks are all examples of strategies.
For Instance:
| Attribute | Details |
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2017-2022 |
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Market Analysis |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Customization & Pricing |
Available upon Request |
Mobile Refrigerator Market by Technology:
Mobile Refrigerator Market by Product Type:
Mobile Refrigerator Market by Application:
Mobile Refrigerator Market by Build Type:
Mobile Refrigerator Market by Capacity:
Mobile Refrigerator Market by Price Range:
Mobile Refrigerator Market by Sales Channel:
Mobile Refrigerator Market by Region:
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The global Mobile Refrigerator market reached a valuation of US$ 1494.2 million at the end of 2023.
Between 2017 and 2022, global sales of Mobile Refrigerator increased at ~5.6% CAGR.
North America leads the global market and accounted for highest share in 2022.
Some of the leading manufacturers of Mobile Refrigerator are Indel B S.p.a, Dometic Group AB, AB Electrolux, Siemens AG, Evakool, Engel Australia Pty Ltd., Kickass Products Pty Ltd., ARB, Tropicool Car Gadgets Pvt. Ltd., Triton Mechanical, ICECO, Aspenora, Alpicool Inc., Guangzhou Boju Technology Co., Limited, WHYNTER LLC among others.
The global market for Mobile Refrigerator is expected to expand at ~8.4% CAGR through 2033.
