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Global Minibar Refrigerators Market Size study & Forecast, by Technology (Absorption, Thermoelectric/ Peltier and Compression) by End-use (Transportation, Hospitality, Offices, Household and Others) and Regional Analysis, 2023-2030
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Global Minibar Refrigerators Market is valued approximately USD 330.57 million in 2022 and is anticipated to grow with a healthy growth rate of more than 4.57% over the forecast period 2023-2030. The burgeoning hospitality sector, particularly the hotel industry, serves as a primary catalyst for the robust growth of the minibar refrigerators market. Hotels, renowned for their distinctive designs, tailored services, and immersive themes, are driving the surge in demand for minibar refrigerators. This momentum is underscored by data from the Q4 year-end global construction pipeline trend report by Lodging Econometrics (LE), revealing a substantial uptick in hotel construction activities. As of 2022, the global construction pipeline for hotels reached an impressive count of 14,267 establishments, encompassing 2,298,846 rooms-an increase of 4% year-over-year. In response to the evolving preferences of discerning guests, these properties are prioritizing the curation of high-quality minibar offerings that resonate with their brand identity. This strategic approach caters to guests seeking exclusivity and premium amenities, thereby fortifying the market's expansion trajectory.
The evolution of minibar refrigerators has been propelled by technological advancements, elevating them from basic cooling devices to sophisticated appliances equipped with state-of-the-art features. Smart minibar refrigerators exemplify this transformation, offering remote control, monitoring, and restocking capabilities. These advanced functionalities empower hotels to streamline operations and enhance guest experiences while providing valuable consumption data for optimized restocking and reduced wastage. Furthermore, market players are prioritizing energy efficiency, exemplified by offerings like Dometic Group AB's HiPro series. These premium minibars boast energy-saving capabilities and are free from chromate, a corrosion inhibitor recently flagged by the EU. The Dometic HiPro minibar refrigerators are designed for rapid drink chilling without excessive cooling. Their transparent door racks accommodate 1.5L bottles, while adjustable and removable shelves offer versatility for storing various products. Moreover, Changing consumer preferences and the availability of alternative amenities, such as vending machines or on-demand delivery services, could impact the demand for minibar refrigerators in hospitality settings.
The key regions considered for the Global Minibar Refrigerators Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe emerged as a dominant force in the global minibar refrigerator market in 2023, driven by the increasing demand for convenience, energy efficiency, and connectivity features among European consumers. This preference has spurred companies to innovate and introduce new refrigerator models equipped with advanced functionalities such as touch screens, remote monitoring, energy-saving capabilities, and integration with smart home systems. Asia Pacific is poised to experience highest CAGR through 2023-2030. This growth trajectory is primarily attributed to the flourishing travel and tourism industry in the region, coupled with the presence of renowned hotel chains such as Oberoi and Four Seasons.
Major market player included in this report are:
- ISM Makine Elektrik Sanayi ve Ticaret A.S.
- Dometic
- Felix Storch (Summit Appliance)
- Minibar Systems
- Indel B SpA
- HISENSE
- OMNITEC SYSTEMS S.L.
- Royal Minibars
- TEFCOLD Group
- Kollatron Corporation
Recent Developments in the Market:
- In September 2021, Dometic made a strategic acquisition by purchasing Igloo, a prominent company known for its passive cooling boxes and drinkware. This acquisition bolstered Dometic's distribution network, particularly in North America, enhancing its market presence and product offerings in the region.
- In May 2022, Dometic advanced to the next phase of its sustainability initiative by achieving a significant milestone. All of its European plants and production facilities have successfully transitioned to operating solely on 100% renewable electricity.
Global Minibar Refrigerators Market Report Scope:
- Historical Data - 2020 - 2021
- Base Year for Estimation - 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Technology, End-use, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Rest of the World
- Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Technology:
- Absorption
- Thermoelectric/ Peltier
- Compression
By End-use:
- Transportation
- Hospitality
- Offices
- Household
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of the World
Table of Contents
Chapter 1.Executive Summary
- 1.1.Market Snapshot
- 1.2.Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Million)
- 1.2.1.Minibar Refrigerators Market, by Region, 2020-2030 (USD Million)
- 1.2.2.Minibar Refrigerators Market, by Technology, 2020-2030 (USD Million)
- 1.2.3.Minibar Refrigerators Market, by End-use, 2020-2030 (USD Million)
- 1.3.Key Trends
- 1.4.Estimation Methodology
- 1.5.Research Assumption
Chapter 2.Global Minibar Refrigerators Market Definition and Scope
- 2.1.Objective of the Study
- 2.2.Market Definition & Scope
- 2.2.1.Industry Evolution
- 2.2.2.Scope of the Study
- 2.3.Years Considered for the Study
- 2.4.Currency Conversion Rates
Chapter 3.Global Minibar Refrigerators Market Dynamics
- 3.1.Minibar Refrigerators Market Impact Analysis (2020-2030)
- 3.1.1.Market Drivers
- 3.1.1.1.Growing hospitality sector across the world
- 3.1.1.2.Rising Travel and Tourism industry
- 3.1.2.Market Challenges
- 3.1.2.1.High Cost of Minibar Refrigerators
- 3.1.2.2.Energy Consumption Concerns
- 3.1.3.Market Opportunities
- 3.1.3.1.Integration of smart technologies, such as IoT sensors for inventory management and remote monitoring
- 3.1.3.2.Growing demand for eco-friendly and energy-efficient minibar refrigerators
Chapter 4.Global Minibar Refrigerators Market Industry Analysis
- 4.1.Porter's 5 Force Model
- 4.1.1.Bargaining Power of Suppliers
- 4.1.2.Bargaining Power of Buyers
- 4.1.3.Threat of New Entrants
- 4.1.4.Threat of Substitutes
- 4.1.5.Competitive Rivalry
- 4.2.Porter's 5 Force Impact Analysis
- 4.3.PEST Analysis
- 4.3.1.Political
- 4.3.2.Economical
- 4.3.3.Social
- 4.3.4.Technological
- 4.3.5.Environmental
- 4.3.6.Legal
- 4.4.Top investment opportunity
- 4.5.Top winning strategies
- 4.6.COVID-19 Impact Analysis
- 4.7.Disruptive Trends
- 4.8.Industry Expert Perspective
- 4.9.Analyst Recommendation & Conclusion
Chapter 5.Global Minibar Refrigerators Market, by Technology
- 5.1.Market Snapshot
- 5.2.Global Minibar Refrigerators Market by Technology, Performance - Potential Analysis
- 5.3.Global Minibar Refrigerators Market Estimates & Forecasts by Technology 2020-2030 (USD Million)
- 5.4.Minibar Refrigerators Market, Sub Segment Analysis
- 5.4.1. Absorption
- 5.4.2.Thermoelectric/ Peltier
- 5.4.3.Compression
Chapter 6.Global Minibar Refrigerators Market, by End-use
- 6.1.Market Snapshot
- 6.2.Global Minibar Refrigerators Market by End-use, Performance - Potential Analysis
- 6.3.Global Minibar Refrigerators Market Estimates & Forecasts by End-use 2020-2030 (USD Million)
- 6.4.Minibar Refrigerators Market, Sub Segment Analysis
- 6.4.1. Transportation
- 6.4.2. Hospitality
- 6.4.3.Offices
- 6.4.4.Household
- 6.4.5.Others
Chapter 7.Global Minibar Refrigerators Market, Regional Analysis
- 7.1.Top Leading Countries
- 7.2.Top Emerging Countries
- 7.3.Minibar Refrigerators Market, Regional Market Snapshot
- 7.4.North America Minibar Refrigerators Market
- 7.4.1.U.S. Minibar Refrigerators Market
- 7.4.1.1.Technology breakdown estimates & forecasts, 2020-2030
- 7.4.1.2.End-use breakdown estimates & forecasts, 2020-2030
- 7.4.2.Canada Minibar Refrigerators Market
- 7.5.Europe Minibar Refrigerators Market Snapshot
- 7.5.1.U.K. Minibar Refrigerators Market
- 7.5.2.Germany Minibar Refrigerators Market
- 7.5.3.France Minibar Refrigerators Market
- 7.5.4.Spain Minibar Refrigerators Market
- 7.5.5.Italy Minibar Refrigerators Market
- 7.5.6.Rest of Europe Minibar Refrigerators Market
- 7.6.Asia-Pacific Minibar Refrigerators Market Snapshot
- 7.6.1.China Minibar Refrigerators Market
- 7.6.2.India Minibar Refrigerators Market
- 7.6.3.Japan Minibar Refrigerators Market
- 7.6.4.Australia Minibar Refrigerators Market
- 7.6.5.South Korea Minibar Refrigerators Market
- 7.6.6.Rest of Asia Pacific Minibar Refrigerators Market
- 7.7.Latin America Minibar Refrigerators Market Snapshot
- 7.7.1.Brazil Minibar Refrigerators Market
- 7.7.2.Mexico Minibar Refrigerators Market
- 7.8.Rest of The World Minibar Refrigerators Market
Chapter 8.Competitive Intelligence
- 8.1.Key Company SWOT Analysis
- 8.2.Top Market Strategies
- 8.3.Company Profiles
- 8.3.1. ISM Makine Elektrik Sanayi ve Ticaret A.S.
- 8.3.1.1.Key Information
- 8.3.1.2.Overview
- 8.3.1.3.Financial (Subject to Data Availability)
- 8.3.1.4.Product Summary
- 8.3.1.5.Recent Developments
- 8.3.2. Dometic
- 8.3.3.Felix Storch (Summit Appliance)
- 8.3.4.Minibar Systems
- 8.3.5.Indel B SpA
- 8.3.6.HISENSE
- 8.3.7.OMNITEC SYSTEMS S.L.
- 8.3.8.Royal Minibars
- 8.3.9.TEFCOLD Group
- 8.3.10.Kollatron Corporation
Chapter 9.Research Process
- 9.1.Research Process
- 9.1.1.Data Mining
- 9.1.2.Analysis
- 9.1.3.Market Estimation
- 9.1.4.Validation
- 9.1.5.Publishing
- 9.2.Research Attributes
- 9.3.Research Assumption
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