Portable Godrej Mini Fridge Market Set for Rapid Growth

Godrej mini-fridge  According to the report published by Allied Market Research, the global portable mini fridge market is expected to attain $. billion by , growing at a CAGR of % during the forecast period, -.

The growth of the global portable mini fridge market is driven by the need for cold storage in commercial vehicles, growing demand from residential customers, and the unprecedented growth of hospitality industry & medical services. In addition, the growing adoption of mobile living fueled innovation in terms of design and is set to provide lucrative opportunities to emerging market players in the near future. However, high cost associated with portable mini fridge, limited cooling efficiency & storage, and lower demand for luxury cars and RVs in developing economies act as restraints for the growth of the market.

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Among types, the – . cu. ft. segment is likely to grow at the fastest CAGR of .% during the forecast period, owing to the growth of adventure sports and camping, which has fueled the need for portable mini fridges pertaining to such size. Nonetheless, the – cu. ft. segment is expected to maintain dominance throughout the forecast period, as they are widely used in medical & hospitality sector to store drugs, drinks, and food items.

Among applications, the commercial use segment is likely to grab over three-quarter of the market share through , owing to the growing medical and hospitality industry that adopts portable mini fridges. Moreover, the portability of such fridges makes them an important addition in caravans, tug boats, and yatches. However, the home use segment is likely to grow at the fastest CAGR of .% through .

Asia-Pacific is likely to remain the largest and fastest growing region through the forecast period. This is due to the increased adoption of portable mini fridges to support the growing activities such as adventure sports, fishing, and camping, along with the growth of the hospitality and medical industry.

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The prime market players analyzed in the report include ARB, Danby, Dometic Group AB, EdgeStar Living Direct, ., Engel Australia Pty Ltd., Haier , Koolatron, LG Electronics, Godrej Group, and Whynter. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.

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Allied Market Research AMR is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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